Individually Owned 
For Sale
1 / 28
$4,399,000
4021 Thomas Ave N, Minneapolis, MN 55412
View Listing →
Property summary
AI-generated overview
In Minneapolis, Minnesota, the property is a specialty multi-story building with three floors of indoor space, including 28 offices and 34 classrooms, plus large classroom areas, a commercial kitchen, a gymnasium, and a social/dining hall. The building is served by an elevator and includes air conditioning. It has a lot size of 1.81 acres and offers limited on-site parking. The building’s layout supports a range of institutional and commercial uses, including office use, education-related uses (such as a charter school), and medical-related uses (such as clinics or related professional services). The facility is also configured in a way that could accommodate alternative conversions, including multi-unit housing concepts with dining and resident amenities, as well as supportive uses such as a barber shop, hair salon, or small convenience retail. Additional amenity spaces that could be integrated or repurposed include outdoor gathering areas (e.g., patio), a community garden, an exercise room, craft room, library, small movie theater, and an indoor pickleball court.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1950
Construction
CONCRETE
Total area
42,849 SF
Lot
1.81 ac (78,844 SF)
Zoning code
R1A
APN
05-029-24-13-0012
UPID
US46-0307658
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.85M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$1.96M
Owner & transaction history
since 2022
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
R1A · Minneapolis, MN
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.96M
Value range
$1.76M – $2.15M
±10% around blend
Estimated value / SF
$46 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
30
$1.76M
blend $1.96M
$2.15M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
42,849 SF
Lot area
1.81 ac
Year built
1950
Stories
2
APN
05-029-24-13-0012
Zoning
R1A
Assessed value
$270,000
Annual tax
$8,619
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.61M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.2 mi away · 49,566 SF
10.5 mi away · 33,179 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.96M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 32 sales
$120
-62%
Submarket 1192 sales
$151
-70%
County 1276 sales
$160
-72%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $46/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.00M
Move the market yield to see immediate price impact.
Value / SF
$47
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$126k
$2.52M
$1.80M
$1.40M
$140k
$2.80M
$2.00M
$1.56M
$154k
$3.08M
$2.20M
$1.71M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$943k
3.2 mi · Dec 2025 · $19/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,619
Tax year 2023
Assessed value
$270,000
Assessed 2023
Previous assessed
$270,000
+0.0% YoY
Effective rate
3.19%
On assessed value
Assessed land
$270,000
Land market value
$270,000
Total market value
$270,000
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Year built
1950
Construction
CONCRETE
Heating
STEAM
Stories
2
Total area
42,849 SF
Lot
1.81 ac (78,844 SF)
Zoning code
R1A
APN
05-029-24-13-0012
UPID
US46-0307658
Jurisdiction
HENNEPIN
Zoning & alternative use
R1A · Minneapolis, MNZoning R1A · permitted uses
R1A · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE
Heating
STEAM
Stories
2
Lot
1.81 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R1A
Jurisdiction
Minneapolis, MN
Recorded code
R1A
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R1A in Minneapolis, MN.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Get access to Data & Analytics Reports
Choose the membership plan that suits your needs
Unlock 1 Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Your report includes if available
- Property Ownership
- Basic report summary
MOST POPULAR
Professional plan
$99
/mo
30 FULL REPORTS a month.
Your membership includes if available
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
Enterprise plan
$299
/mo
300 FULL REPORTS a month.
Your membership includes if available
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
