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Property profile & analytics
FOR SALE
Commercial real estate
3329 University Ave Southeast Minneapolis, MN 55414
Individually Owned
1-yr Hold
Free & Clear
Property ID
US46-0750923
For Sale
1 / 17
$2,580,650
3329 University Ave Southeast, Minneapolis, MN 55414
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1958
Construction
CONCRETE
Total area
12,180 SF
Lot
0.49 ac (21,344 SF)
Zoning code
C1
APN
30-029-23-41-0054
UPID
US46-0750923
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
ᐯᗩᕼᗩᒪᒪᗩ Hospital
-
Valhalla Place Medical Clinic
-
Alliance Clinic Medical Clinic
-
Evans Mary L Physician Medical Clinic
-
Ernest Lampe Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
Michael Bundy · 1 yrs held
Michael Bundy
since 2025
3 recorded transactions
Zoning & alternative use
C1 · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$103 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$50,123
Tax year 2023
Assessed value
$1,671,800
Assessed 2023
Previous assessed
$1,492,700
+12.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$740,300
Assessed improvement
$931,500
Land market value
$740,300
Improvement market value
$931,500
Total market value
$1,671,800
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1958
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
12,180 SF
Lot
0.49 ac (21,344 SF)
Zoning code
C1
APN
30-029-23-41-0054
UPID
US46-0750923
Jurisdiction
HENNEPIN
Zoning & alternative use
C1 · Minneapolis, MN
Zoning C1 · permitted uses
C1 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
Michael Bundy
Individual
Free & Clear · 1 yrs held
Mailing address
5001 SPG VLY RD STE #600, DALLAS, TX 75244-3946
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2025
—
Michael Bundy
3329 University LLC
Warranty Deed
—
May 25, 2001
$900,000
Alliance Clinic LLC
Miller,whitney W & Nancy J
Grant Deed
$700,000 · Sunrise Community Banks
—
—
3329 University LLC
—
Deed Of Trust
related
$521,238 · Highland Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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