Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3240 Washington N Ave Minneapolis, MN 55412-2640

    • Commercial real estate
    • 5,000 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1032098
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rivera Booths / Production Facility / Furniture & Home Goods
    • A Rivera & Associates Inc / Construction Company / General Contractor
    • Mi Pueblo Travel / Travel Agency
    • Englund Roofing & Sheet Metal / Roofing Company / General Contractor
    • TPMC / Electronics & Wireless Store

    Property Details for 3240 Washington N Ave

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.20 lot acres
    Property size
    5,000 SF
    Zone code
    I2
    Property type
    Commercial real estate
    APN
    10-029-24-24-0035
    APU
    1002924240035

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $540,000
      Market price range: $311k - $840k
      AI Estimate
      $428,000
      Market price range: $252k - $671k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2814
    Latitude
    45.0145
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,572
    $43,800
    $515,000
    $558,800
    -
    $43,800
    $515,000
    $558,800

    Comparable in this City

    • Value Estimation by Request
      1,619 SF

      3954 Thomas N Ave

      COMMERCIAL (GENERAL) • 1,619 SF
      3954 Thomas N Ave, Minneapolis, MN 55412-1807
      View Details
    • Value Estimation
      $1,240,000
      11,548 SF

      4150 Dupont N Ave

      COMMERCIAL (GENERAL) • 11,548 SF
      4150 Dupont N Ave, Minneapolis, MN 55412-1615
      View Details
    • Value Estimation
      $565,000
      3,570 SF

      4435 Lyndale N Ave

      COMMERCIAL (GENERAL) • 3,570 SF
      4435 Lyndale N Ave, Minneapolis, MN 55412-1436
      View Details
    • Value Estimation by Request
      2,200 SF

      3401 4th St

      COMMERCIAL (GENERAL) • 2,200 SF
      3401 4th St, Minneapolis, MN 55412-2617
      View Details
    • Value Estimation
      $730,000
      6,814 SF

      3254 Penn N Ave

      COMMERCIAL (GENERAL) • 6,814 SF
      3254 Penn N Ave, Minneapolis, MN 55412-2340
      View Details
    • Value Estimation
      $11,800,000
      110,000 SF

      3329 Penn N Ave

      COMMERCIAL (GENERAL) • 110,000 SF
      3329 Penn N Ave, Minneapolis, MN 55412-2341
      View Details

    Similar Nearby for Sale

    • $2,400,000
      29,099 SF

      4011 Washington Ave, Minneapolis, MN 55412

      Investment properties • 29,099 SF
      4011 Washington Ave, Minneapolis, MN 55412
      View Details
    • $39,900
      0.12 Acres

      Minneapolis Vacant Land For Sale

      Vacant land in Minneapolis, ideal for builders and developers.
      3318 Oliver Ave N, Minneapolis, MN 55412
      View Details
    • $109,900
      0.18 Acres

      Mixed-Use Development Site Opportunity

      Mixed-use development site along the 94 corridor in Minneapolis.
      4631 Lyndale Ave N, Minneapolis, MN 55412
      View Details
    • $224,900
      0.15 Acres

      Mixed-Use Property in Minneapolis

      Investment property with storefront and residential units in Minneapolis.
      1307 44Th Ave N, Minneapolis, MN 55412
      View Details
    • $30,000
      0.10 Acres

      Minneapolis Land For Sale

      Residential lot available in Minneapolis, build your dream home!
      422 33Rd Ave N, Minneapolis, MN 55412
      View Details
    • Contact for pricing
      5,100 SF

      Camden Office Building - 5,000 SF

      Prime Camden location, vacant office building, great signage.
      800 42Nd Ave, Minneapolis, MN 55412
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,100 SF

      Stand-Alone Office Building in Camden

      Two-story office building with parking in Camden neighborhood.
      800 North 42Nd Ave, Minneapolis, MN 55412
      View Details
    • $18 SF/Yr
      5,100 SF

      800 N 42nd Ave Office Building

      Camden, MN Office Space Available
      800 42Nd Ave, Minneapolis, MN 55412
      View Details
    • $12 SF/Yr
      7,500 SF

      Commercial Space in Shopping Plaza

      Shopping plaza with space suitable for various commercial uses.
      2201 37Th Ave NE, Columbia Heights, MN 55412
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3240 Washington N Ave
    Minneapolis, MN 55412-2640
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.