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

    604 2nd SE St Minneapolis, MN 55414

    • Industrial properties
    • 149,538 SF
    • 3.91 lot acres
    OFF-MARKET
    Value Estimations
    $8,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0763984
    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

    • Industrial properties

    Property Details for 604 2nd SE St

    Year built
    1900
    Construction
    METAL FRAME
    Lot size
    3.91 lot acres
    Property size
    149,538 SF
    Zone code
    I2
    Property type
    Industrial properties
    APN
    23-029-24-41-0033
    APU
    2302924410033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,785,000
      Market price range: $8.79M - $21.9M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $13,920,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2466
    Latitude
    44.9818
    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
    $127,054
    $2,642,900
    $1,357,100
    $4,000,000
    -
    $2,642,900
    $1,357,100
    $4,000,000

    Comparable in this City

    • Value Estimation
      $630,000
      4,627 SF

      634 24th SE Ave

      INDUSTRIAL (GENERAL) • 4,627 SF
      634 24th SE Ave, Minneapolis, MN 55414
      View Details
    • Value Estimation
      $1,780,000
      21,359 SF

      2911 Como SE Ave

      INDUSTRIAL (GENERAL) • 21,359 SF
      2911 Como SE Ave, Minneapolis, MN 55414-2803
      View Details
    • Value Estimation
      $2,970,000
      38,720 SF

      800 9th SE St

      INDUSTRIAL (GENERAL) • 38,720 SF
      800 9th SE St, Minneapolis, MN 55414
      View Details
    • Value Estimation
      $6,700,000
      95,374 SF

      2100 Elm SE St

      INDUSTRIAL (GENERAL) • 95,374 SF
      2100 Elm SE St, Minneapolis, MN 55414-2533
      View Details
    • Value Estimation
      $12,005,000
      156,567 SF

      1800 Elm SE St

      INDUSTRIAL (GENERAL) • 156,567 SF
      1800 Elm SE St, Minneapolis, MN 55414-2500
      View Details
    • Value Estimation
      $4,205,000
      70,060 SF

      2904 Fairmont SE Ave

      INDUSTRIAL (GENERAL) • 70,060 SF
      2904 Fairmont SE Ave, Minneapolis, MN 55414-2829
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Creative Arts Building For Sale

      Redevelopment opportunity or continue as rental property.
      3338 University Ave SE, Minneapolis, MN 55414
      View Details
    • $250,000

      Land for Development Near University

      Land available for development near the University of Minnesota.
      2530 Essex St SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      24,500 SF

      Minneapolis Office Building For Sale

      24,500 SF office building with photo studio and parking.
      807 13Th Ave S, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      1,600 SF

      Affordable Office/Retail Space in Minneapolis

      1,600 SF lower level office/retail in vibrant Como neighborhood.
      1820 Como Ave SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing

      Prospect Park Development Site

      Development site in Prospect Park near the University of Minnesota.
      518 Malcolm Ave SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      21,875 SF

      Historic Berg Bag Building Opportunity

      Four-story, 21,875 SF building in Minneapolis's North Loop district.
      410 N 3Rd Ave, Minneapolis, MN 55414
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,192 SF

      Unique High-Bay Column-Free Space

      Large volume space suitable for retail, office, or entertainment.
      575-701 9Th St SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      29,634 SF

      Industrial Warehouse Space Available

      29,634 square feet of warehouse space for rent.
      1800 Elm St Southeast, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      29,634 SF

      Office Warehouse Near University

      Office warehouse with easy highway access and air conditioning.
      1800-1860 Elm St SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      112,000 SF

      Minneapolis Warehouse Space Available

      112,000 SF warehouse space for lease in Minneapolis.
      701-715 Kasota Ave, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      8,103 SF

      Functional Office/Lab/Warehouse Space

      Office/Lab/Warehouse space with drive-in loading in prime Minneapolis location.
      721-739 Kasota Ave SE, Minneapolis, MN 55414
      View Details
    • Contact for pricing
      3,787 SF

      Bloomington Warehouse Space Available

      Warehouse space with convenient access to major highways and airport.
      7900-7940 12Th Ave S, Bloomington, MN 55414
      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.
    604 2nd SE St
    Minneapolis, MN 55414
    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!