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    3553 Hennepin Ave Minneapolis, MN 55408
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    3553 Hennepin Ave Minneapolis, MN 55408

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    • Commercial real estate
    • 1,211 SF
    • 0.24 lot acres
    For Sale
    View Listing →
    3553 Hennepin Ave, Minneapolis, MN For Sale
    Contact for pricing
    1,347 SF

    3553 Hennepin Ave, Minneapolis, MN

    Fully leased retail property with future development potential near Bde Mka Ska.

    3553 Hennepin Ave, Minneapolis, MN 55408
    View Listing
    Property ID
    US46-0703822
    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

    • Uptown Vision / Eye Care Center / Contact Lenses Supplier
    • Dr. Mark Sabre / Physician
    • Tamara Legg / Physician

    Property Details for 3553 Hennepin Ave

    Year built
    1955
    Construction
    CONCRETE
    Lot size
    0.24 lot acres
    Property size
    1,211 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    04-028-24-42-0209
    APU
    402824420209

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2981
    Latitude
    44.938
    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
    $21,886
    $311,000
    $397,800
    $708,800
    -
    $311,000
    $397,800
    $708,800

    Comparable in this City

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      63,065 SF

      2810 Nicollet Ave

      COMMERCIAL (GENERAL) • 63,065 SF
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    • Value Estimation
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      9,476 SF

      2835 Nicollet Ave

      COMMERCIAL (GENERAL) • 9,476 SF
      2835 Nicollet Ave, Minneapolis, MN 55408-2329
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    • Value Estimation
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      6,370 SF

      111 Lk St

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    • Value Estimation
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      8,782 SF

      3006 Hennepin Ave

      COMMERCIAL (GENERAL) • 8,782 SF
      3006 Hennepin Ave, Minneapolis, MN 55408-2614
      View Details
    • Value Estimation
      $13,565,000
      169,516 SF

      3027 Hennepin Ave

      COMMERCIAL (GENERAL) • 169,516 SF
      3027 Hennepin Ave, Minneapolis, MN 55408-2615
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,190 SF

      Uptown Retail Building on Hennepin

      Two-level retail building with high visibility in Uptown.
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      Nicollet Avenue Retail/Office Building

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      Lake Street Restaurant Opportunity

      Two-level restaurant with full build-out on vibrant Lake Street.
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    • New
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      Remodeled Five-Unit Apartment Building

      Turn-key investment opportunity with immediate income and long-term upside.
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      Boutique Apartment Building on Eat Street

      Apartment building with carriage house and vacant adjacent lot.
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    • $1,500,000
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      Prime Minneapolis Restaurant Opportunity

      Established Restaurant, 3,550 SF, $1.5M
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    Similar Nearby for Lease

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      Prime Uptown Location for Lease

      Excellent visibility and accessibility in a dense urban location.
      1433 W Lake St, Minneapolis, MN 55408
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      Office Space in Uptown/LynLake

      Office space for rent in high-traffic Uptown/LynLake location.
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      Office and Retail Space Available

      Office and retail spaces in the vibrant Uptown neighborhood.
      2907 Hennepin Ave, Minneapolis, MN 55408
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      1,537 SF

      Medical Clinic Space Available

      Medical clinic space available in Uptown Row.
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      Retail Space in Mixed-Use Development

      Retail space available in a mixed-use development, built in 2022.
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      View Details
    • Contact for pricing
      2,579 SF

      New Retail/Office Space Available

      New construction retail and office space with prime location.
      1477 W Lake St, Minneapolis, MN 55408
      View Details
    View Listing
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    Minneapolis, MN 55408
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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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