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    3510 Belt Line Blvd Minneapolis, MN 55416
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    3510 Belt Line Blvd Minneapolis, MN 55416

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    • Retail space
    For Lease
    $24 SF/Yr
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    Retail/Office Space in Luxury Building For Lease
    $24 SF/Yr

    Retail/Office Space in Luxury Building

    Shell space in new luxury apartment building, suitable for retail/office.

    3510 Beltline Blvd, Minneapolis, MN 55416
    View Listing
    Property ID
    US46-1852915
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Risor of St. Louis Park / Apartment Complex / Apartment Building

    Property Details for 3510 Belt Line Blvd

    Property type
    Retail space
    Property subtype
    Office Units

    Description

    Retail or office shell space available in a newly developed 55+ luxury apartment building. Located on Beltline Blvd, this corner unit features abundant natural light, an open floor plan, and can be built out for a variety of uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.3411672
    Latitude
    44.9398649

    Comparable in this City

    • $24 SF/Yr
      4,000 SF

      Retail/Office Space in Luxury Apartments

      Shell space in new luxury apartment building, flexible terms.
      3510 Belt Line Blvd, St Louis Park, MN 55416
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      20,000 SF

      Commercial Space For Lease

      20,000 SF commercial space available for lease.
      3285 Belt Line Blvd, St Louis Park, MN 55416
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      High Image Office/Showroom Space

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      Office/Showroom Space Near I-394

      High-image office/showroom space with convenient highway access and flexible layouts.
      4700-4850 Park Glen Rd, St Louis Park, MN 55416
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    • $4 SF/Yr
      90,069 SF

      Move-in Ready Office Space

      Flexible office solutions in St. Louis Park, minutes from Minneapolis.
      4301 Highway 7, St Louis Park, MN 55416
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    • $24 SF/Yr
      1,505 SF

      Office Suite in St Louis Park

      Flexible office suite in a convenient St Louis Park location.
      4915 W 35Th St, St Louis Park, MN 55416
      View Details

    Similar Nearby for Sale

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      Office Building in Sunset Ridge

      Multitenant office building in St. Louis Park near West End.
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      St Louis Park Office Building

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      Saint Louis Park Office Space

      1200 SF office with highway access and parking.
      6200 Excelsior Blvd, Saint Louis Park, MN 55416
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      Remodeled Office Spaces Available

      Multiple remodeled office units with included amenities for sale.
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      Retail Space in Dense Area

      Retail space in a high-traffic area with strong sales.
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    Similar Nearby for Lease

    • $24 SF/Yr
      4,000 SF

      Retail/Office Space in Luxury Apartments

      Shell space in new luxury apartment building, flexible terms.
      3510 Belt Line Blvd, St Louis Park, MN 55416
      View Details
    • Contact for pricing
      20,000 SF

      Commercial Space For Lease

      20,000 SF commercial space available for lease.
      3285 Belt Line Blvd, St Louis Park, MN 55416
      View Details
    • Contact for pricing

      High Image Office/Showroom Space

      Centrally located office/showroom with convenient highway access and retail proximity.
      4700 Park Glen Rd, Minneapolis, MN 55416
      View Details
    • Contact for pricing
      4,957 SF

      Office/Showroom Space Near I-394

      High-image office/showroom space with convenient highway access and flexible layouts.
      4700-4850 Park Glen Rd, St Louis Park, MN 55416
      View Details
    • $4 SF/Yr
      90,069 SF

      Move-in Ready Office Space

      Flexible office solutions in St. Louis Park, minutes from Minneapolis.
      4301 Highway 7, St Louis Park, MN 55416
      View Details
    • $24 SF/Yr
      1,505 SF

      Office Suite in St Louis Park

      Flexible office suite in a convenient St Louis Park location.
      4915 W 35Th St, St Louis Park, MN 55416
      View Details
    View Listing
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    3510 Belt Line Blvd
    Minneapolis, MN 55416
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    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
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    3510 Belt Line Blvd, Minneapolis, MN, 55416
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