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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    730 S 2Nd Ave Minneapolis, MN 55402

    • Commercial real estate
    • 402,064 SF
    • 0.77 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0697718
    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

    • Black Hills IP Technology / Law Firm
    • TigerLion Arts / Theater & Performing Art Venue
    • TBE Capital / Consultant
    • Marbrook Foundation / Charitable Organization
    • Northstar Commodity / Financial Advisor

    Property Details for 730 S 2Nd Ave

    Year built
    1926
    Construction
    TILT-UP CONCRETE
    Lot size
    0.77 lot acres
    Property size
    402,064 SF
    Zone code
    B4-2
    Property type
    Commercial real estate
    APN
    27-029-24-11-0007
    APU
    2702924110007

    Description

    The Baker Building, a 14-story Class B office building located at 730 2nd Ave S, Minneapolis, MN 55402, offers a unique opportunity for businesses seeking a prominent location in the heart of the city. This traditional office building boasts a total of 350,000 square feet, with one immediately available space of 9,121 square feet. Constructed in 1968, the building provides multiple tenancy options. A key advantage is direct access to a parking ramp from the fifth floor, ensuring convenient parking for employees and clients. All existing furniture is included in the lease, saving on relocation costs. The building's location offers unparalleled access to a vibrant urban environment, within walking distance of major sports venues, art galleries, diverse dining options, and entertainment. An amenity floor features three conference rooms and a full concierge service, enhancing productivity and convenience. The Baker Building benefits from its position within Minneapolis' extensive skyway system, providing seamless indoor connections to 80 city blocks across eight miles of walkways. For those who prefer alternative transportation, the building is conveniently located adjacent to the MARQ2 bus transit corridor and only two blocks from the LRT station at Government Plaza. Furthermore, access to Minneapolis' renowned bike lane and trail system is readily available, with indoor bike racks and changing rooms provided on-site. A state-of-the-art fitness center adds to the building's comprehensive amenities package.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,809,000
      Market price range: $651k - $27.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2705
    Latitude
    44.9753
    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
    $430,970
    $8,726,400
    $3,176,900
    $11,903,300
    -
    $8,726,400
    $3,176,900
    $11,903,300

    Comparable in this City

    • Value Estimation by Request
      0.27 Acres

      Penn And Lowry Avenues

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      View Details
    • Value Estimation
      $2,955,000
      109,472 SF

      16 9th St, Unit 1

      COMMERCIAL (GENERAL) • 109,472 SF
      16 9th St, Minneapolis, MN 55402
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    • Value Estimation
      $9,375,000
      1,312,757 SF

      620 2nd Ave Sc

      COMMERCIAL (GENERAL) • 1,312,757 SF
      620 2nd Ave Sc, Minneapolis, MN 55402
      View Details
    • Value Estimation
      $48,005,000
      1,065,354 SF

      800 Nicollet Mall

      COMMERCIAL (GENERAL) • 1,065,354 SF
      800 Nicollet Mall, Minneapolis, MN 55402-7000
      View Details
    • Value Estimation
      $4,460,000
      235,847 SF

      700 Nicollet Mall

      COMMERCIAL (GENERAL) • 235,847 SF
      700 Nicollet Mall, Minneapolis, MN 55402-2040
      View Details
    • Value Estimation
      $3,630,000
      496,128 SF

      87 8th St

      COMMERCIAL (GENERAL) • 496,128 SF
      87 8th St, Minneapolis, MN 55402
      View Details

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      Prime Office Space in Minneapolis

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      Minneapolis Office Space Available

      Large office building in Minneapolis, MN, available for lease.
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      Baker Center: Creative Office Space

      Downtown Minneapolis Creative Office
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      Prime Minneapolis Commercial Land

      0.27-acre lot, 12,197 sqft, C2 zoning
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    730 S 2Nd Ave
    Minneapolis, MN 55402
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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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