Add Listing
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

    3340 Gorham Ave St Louis Park, MN 55426-4225

    • Industrial properties
    • 76,704 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2023
    $2,435,000
    Value Estimations
    $2,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0945051
    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

    • Minvalco Inc / General Contractor

    Property Details for 3340 Gorham Ave

    Year built
    1958
    Construction
    CONCRETE BLOCKS
    Lot size
    0.44 lot acres
    Property size
    76,704 SF
    Property type
    Industrial properties
    APN
    17-117-21-42-0078
    APU
    1711721420078

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,440,000
      ML approach
      $2,515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,513,000
      Market price range: $1.02M - $1.67M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,980,000

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

    Location Insight

    • Map
    • Local Demand
    City
    St Louis Park
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3673
    Latitude
    44.9398
    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
    $32,286
    $153,000
    $1,082,000
    $1,235,000
    -
    $153,000
    $1,082,000
    $1,235,000

    Comparable in this City

    • Value Estimation by Request
      1.31 Acres

      675 Rhode Is S Ave

      INDUSTRIAL (GENERAL) • 1.31 Acres
      675 Rhode Is S Ave, Golden Valley, MN 55426-1608
      View Details
    • Value Estimation
      $3,400,000
      264,216 SF

      3938 Meadowbrook Rd

      INDUSTRIAL (GENERAL) • 264,216 SF
      3938 Meadowbrook Rd, St Louis Park, MN 55426-4506
      View Details
    • Value Estimation
      $3,160,000
      386,100 SF

      7201 Lk St

      INDUSTRIAL (GENERAL) • 386,100 SF
      7201 Lk St, St Louis Park, MN 55426-4320
      View Details
    • Value Estimation
      $1,370,000
      99,204 SF

      3230 Gorham Ave

      INDUSTRIAL (GENERAL) • 99,204 SF
      3230 Gorham Ave, St Louis Park, MN 55426-4294
      View Details
    • Value Estimation
      $1,615,000
      157,590 SF

      6980 Oxford St

      INDUSTRIAL (GENERAL) • 157,590 SF
      6980 Oxford St, St Louis Park, MN 55426-4522
      View Details
    • Value Estimation by Request
      1.81 Acres

      750 Pennsylvania S Ave

      INDUSTRIAL (GENERAL) • 1.81 Acres
      750 Pennsylvania S Ave, Golden Valley, MN 55426-1603
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      157,500 SF

      Industrial Property in Brooklyn Park

      157,500 SF industrial property in Brooklyn Park, Minnesota.
      Highway 169 N, Brooklyn Park, MN 55426
      View Details
    • Contact for pricing
      181,436 SF

      Brooklyn Park Manufacturing and Warehouse

      Manufacturing and warehouse space with highway access in Brooklyn Park.
      9435 Winnetka Ave N, Brooklyn Park, MN 55426
      View Details
    • Contact for pricing
      5,500 SF

      Accessible Warehouse and Office Space

      Warehouse and office suites with dock and drive-in access.
      3260 Gorham Ave, St Louis Park, MN 55426
      View Details
    • Contact for pricing
      51,577 SF

      Office Space with Glass Offices

      Office space featuring large glass offices, conference room, and reception.
      8800 Highway 7, St Louis Park, MN 55426
      View Details
    • $299,000
      0.25 Acres

      Residential Land in Saint Louis Park

      Double lot zoned for up to a triplex in demand area.
      1464 Idaho Ave S, Saint Louis Park, MN 55426
      View Details
    • Contact for pricing
      9,436 SF

      Retail Building For Sale/Lease

      9,436 SF building available for sale or lease.
      7035 Wayzata Blvd, St Louis Park, MN 55426
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,850 SF

      St Louis Park Flex Space

      Flex space in shell condition with central location.
      6409-6441 Goodrich Ave, St Louis Park, MN 55426
      View Details
    • Contact for pricing
      191,120 SF

      Industrial Space with Outdoor Storage

      63,768 SF building addition with outdoor storage permitted.
      7509 Boone Ave N, Brooklyn Park, MN 55426
      View Details
    • Contact for pricing
      4,200 SF

      Industrial Space with Drive-In Door

      Industrial space featuring a drive-in door and new epoxy floors.
      6501-6521 Cambridge St, St Louis Park, MN 55426
      View Details
    • $7 SF/Yr
      22,000 SF

      3260 Gorham Ave

      Distribution centers • 22,000 SF
      3260 Gorham Ave, Minneapolis, MN 55426
      View Details
    • Contact for pricing

      Office/Warehouse Space in St Louis Park

      Office and warehouse space with flexible layout and easy access.
      3343 Gorham Ave, Minneapolis, MN 55426
      View Details
    • Contact for pricing
      10,000 SF

      Functional Building in Great Location

      Functional building located north of Methodist Hospital with local management.
      3855 Edgewood Ave S, St Louis Park, MN 55426
      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.
    3340 Gorham Ave
    St Louis Park, MN 55426-4225
    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.
    Sign Up Successful!
    You now have access to more from Realmo!