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    3570 Lexington N Ave Shoreview, MN 55126-8049
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    Property profile & analytics

    3570 Lexington N Ave Shoreview, MN 55126-8049

    View on Map
    • Office buildings
    • 29,832 SF
    • 2.10 lot acres
    Off-Market
    Last Sale Aug 14, 2023
    $1,755,000
    Property ID
    US46-0916700
    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
    $1,355,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 3570 Lexington N Ave

    Year built
    1980
    Lot size
    2.10 lot acres
    Property size
    29,832 SF
    Zone code
    D
    Property type
    Office buildings
    APN
    35-30-23-22-0004
    APU
    353023220004

    Description

    The Lex Center, a Class A office building located at 3570 Lexington Ave N in Shoreview, Minnesota, offers exceptional office space in the Twin Cities North Central submarket. This single, three-story building, totaling 29,000 square feet, underwent a complete renovation in 2024, boasting modern amenities and a vibrant atmosphere. Currently, 8,000 square feet of space is available, divisible into units ranging from a minimum of 750 square feet to a maximum contiguous space of 5,500 square feet. The building features a total of 20 suites, providing flexibility for businesses of various sizes. Ample parking is available with 145 spaces. The property sits on 2.1 acres of land and is conveniently located near County Rd. E. and offers easy access to Highway 694. The building is zoned for commercial use and benefits from its location in Ramsey County. Built in 1980, the recent renovation ensures modern infrastructure and finishes. Property taxes are $2 per square foot. Elevators are available for convenient access to all three floors. This prime location and updated facilities make the Lex Center an ideal choice for businesses seeking high-quality office space in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $910,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shoreview
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.1463
    Latitude
    45.0492
    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
    $71,864
    $914,800
    $1,085,200
    $2,000,000
    -
    $914,800
    $1,085,200
    $2,000,000

    Comparable in this City

    • Value Estimation by Request
      4.92 Acres

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      OFFICE BUILDING • 4.92 Acres
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    • Value Estimation
      $2,680,000
      35,169 SF

      3499 Lexington N Ave

      OFFICE BUILDING • 35,169 SF
      3499 Lexington N Ave, Arden Hills, MN 55126-7055
      View Details
    • Value Estimation
      $5,655,000
      75,440 SF

      4105 Lexington N Ave

      OFFICE BUILDING (MULTI-STORY) • 75,440 SF
      4105 Lexington N Ave, Arden Hills, MN 55126-6181
      View Details
    • Value Estimation
      $9,720,000
      153,730 SF

      3680 Victoria N St

      OFFICE BUILDING • 153,730 SF
      3680 Victoria N St, Shoreview, MN 55126-2906
      View Details
    • Value Estimation
      $1,455,000
      18,000 SF

      3460 Lexington N Ave

      OFFICE BUILDING (MULTI-STORY) • 18,000 SF
      3460 Lexington N Ave, Shoreview, MN 55126-8167
      View Details
    • Value Estimation
      $10,600,000
      113,327 SF

      4000 Lexington N Ave

      OFFICE BUILDING • 113,327 SF
      4000 Lexington N Ave, Shoreview, MN 55126-2917
      View Details

    Similar Nearby for Sale

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      34,779 SF

      Arden Hills Office Building

      34,799 SF office building on 5.66 acres.
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      Spacious Office Suite For Sale

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    • $1,000,000
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      Charming Office Space For Rent

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    • $519,000
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      Lakefront Lot Ready for Building

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      Standalone building with existing drive-thru, built in 2002.
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      Residential Lot in Shoreview, MN

      Residential land in Mounds View School district with mature trees.
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    Similar Nearby for Lease

    • $18 SF/Yr

      Saint Paul Office Space For Rent

      Lower-level office suite with natural light and pond view.
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    • Contact for pricing
      7,280 SF

      Shoreview Office Space Available

      7,280 square feet of office space for rent.
      4700 Lexington Ave N, Shoreview, MN 55126
      View Details
    • Contact for pricing
      2,250 SF

      Shoreview Office Space Available

      2,250 SF office space for sublease through May 2026.
      4570 Churchill St, Shoreview, MN 55126
      View Details
    • Contact for pricing
      4,000 SF

      Shoreview Commercial Space with Storage

      Versatile space with office and outdoor storage in Shoreview.
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      View Details
    • Contact for pricing
      507 SF

      Shoreview Office Space For Rent

      Available office space in Shoreview with easy highway access.
      5985 Rice Creek Pkwy, Shoreview, MN 55126
      View Details
    • Contact for pricing

      Sub-Lease Medical/Office Space Available

      2,250 SF suite available for sub-lease through May 2026.
      4570 Churchill St, Shoreview, MN 55126
      View Details
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    Shoreview, MN 55126-8049
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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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    3570 Lexington N Ave, Shoreview, MN, 55126
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