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    610 SE 9Th St Minneapolis, MN 55404
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    610 SE 9Th St Minneapolis, MN 55404

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    • Industrial properties
    • 40,858 SF
    • 1.01 lot acres
    For Lease
    $3,845,000
    View Listing →
    Office Space with High Ceilings For Lease
    $3,845,000
    1,498 SF

    Office Space with High Ceilings

    Office space featuring high ceilings, natural light, and convenient access.

    610 SE 9th St, Minneapolis, MN
    View Listing
    Property ID
    US46-1795471
    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

    • Kind Lips / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Salt Studios / (Bike/Boat/Book/etc) Store / Photography Service
    • Mill City Fineries / Industrial Manufacturer / Production Facility
    • Honour Resort / Hotel & Motel
    • SG Web Partners / Advertising Agency / Marketing & Advertising

    Property Details for 610 SE 9Th St

    Year built
    1920
    Construction
    BRICK
    Lot size
    1.01 lot acres
    Property size
    40,858 SF
    Property type
    Industrial properties
    APN
    24-029-24-22-0501
    APU
    2402924220501

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,805,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2428
    Latitude
    44.9893
    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
    $169,583
    $396,000
    $5,124,000
    $5,520,000
    -
    $396,000
    $5,124,000
    $5,520,000

    Comparable in this City

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      60,952 SF

      780 29th SE Ave

      INDUSTRIAL (GENERAL) • 60,952 SF
      780 29th SE Ave, Minneapolis, MN 55414
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    • Value Estimation
      $7,020,000
      89,200 SF

      722 Kasota SE Cir

      INDUSTRIAL (GENERAL) • 89,200 SF
      722 Kasota SE Cir, Minneapolis, MN 55414-2815
      View Details
    • Value Estimation
      $2,455,000
      28,266 SF

      600 Malcolm SE Ave

      INDUSTRIAL (GENERAL) • 28,266 SF
      600 Malcolm SE Ave, Minneapolis, MN 55414-3314
      View Details
    • Value Estimation
      $4,250,000
      46,973 SF

      522 12th Malcolm SE Ave

      INDUSTRIAL (GENERAL) • 46,973 SF
      522 12th Malcolm SE Ave, Minneapolis, MN 55414-3312
      View Details
    • Value Estimation
      $4,590,000
      50,382 SF

      620 Malcolm SE Ave

      INDUSTRIAL (GENERAL) • 50,382 SF
      620 Malcolm SE Ave, Minneapolis, MN 55414-3314
      View Details

    Similar Nearby for Sale

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      Minneapolis Office Building For Sale

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      Land for Development Near University

      Land available for development near the University of Minnesota.
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      Prospect Park Development Site

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    • New
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      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
    • $6,000,000
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      Retail and Office Building

      High visibility retail and office space near light rail.
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    Similar Nearby for Lease

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      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
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      29,634 SF

      Industrial Warehouse Space Available

      29,634 square feet of warehouse space for rent.
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      27,029 SF

      Minneapolis Warehouse Space Available

      27,029 SF warehouse space for lease in Minneapolis.
      2000-2090 Elm St SE, Minneapolis, MN 55414
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      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
    • 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
    View Listing
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    610 SE 9Th St
    Minneapolis, MN 55404
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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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