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

    7970 Wallace Rd Eden Prairie, MN 55344-2232

    • Industrial properties
    • 20,073 SF
    • 2.03 lot acres
    OFF-MARKET
    Last Sale
    Nov 05, 2024
    $2,650,000
    Value Estimations
    $2,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0765883
    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 7970 Wallace Rd

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.03 lot acres
    Property size
    20,073 SF
    Zone code
    I-2
    Property type
    Industrial properties
    APN
    16-116-22-21-0007
    APU
    1611622210007

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,635,000
      6.5%
      $3,355,000
      7%
      $3,115,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,442,000
      Market price range: $1.59M - $2.44M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,090,000
      Current use
      COMMERCIAL (GENERAL)
      $4,275,000
      Change: +104% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Eden Prairie
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.4727
    Latitude
    44.8596
    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
    $74,269
    $680,000
    $1,979,000
    $2,659,000
    -
    $680,000
    $1,979,000
    $2,659,000

    Comparable in this City

    • Value Estimation
      $3,110,000
      45,600 SF

      7875 Fuller Rd

      INDUSTRIAL (GENERAL) • 45,600 SF
      7875 Fuller Rd, Eden Prairie, MN 55344-2139
      View Details
    • Value Estimation
      $1,180,000
      14,469 SF

      14590 Martin Dr

      INDUSTRIAL (GENERAL) • 14,469 SF
      14590 Martin Dr, Eden Prairie, MN 55344-2015
      View Details
    • Value Estimation
      $7,270,000
      110,388 SF

      7750 Mitchell Rd

      INDUSTRIAL (GENERAL) • 110,388 SF
      7750 Mitchell Rd, Eden Prairie, MN 55344
      View Details
    • Value Estimation
      $6,280,000
      82,204 SF

      6815 Shady Oak Rd

      INDUSTRIAL (GENERAL) • 82,204 SF
      6815 Shady Oak Rd, Eden Prairie, MN 55344-3420
      View Details
    • Value Estimation
      $6,230,000
      91,826 SF

      6700 Washington S Ave

      INDUSTRIAL (GENERAL) • 91,826 SF
      6700 Washington S Ave, Eden Prairie, MN 55344-3405
      View Details
    • Value Estimation
      $1,150,000
      13,612 SF

      7565 Corporate Way

      INDUSTRIAL (GENERAL) • 13,612 SF
      7565 Corporate Way, Eden Prairie, MN 55344-2022
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      93,000 SF

      Eden Prairie Industrial Space Available

      93,000 SF industrial property in Eden Prairie, Minnesota.
      7665 Commerce Way, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      32,000 SF

      Edina Industrial Property For Sale

      32,000 SF industrial property with highway access and visibility.
      7225 Washington Ave S, Edina, MN 55344
      View Details
    • Contact for pricing
      139,190 SF

      Move-In Ready Broadcast Facility

      Premier Golden Triangle location with move-in ready broadcast facility.
      6698-6740 Shady Oak Rd, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      60,000 SF

      Eden Prairie Warehouse Space

      60,000 SF warehouse space available for lease.
      7945 Wallace Rd, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      10,350 SF

      Edina Warehouse with Pneumatic System

      10,350 SF warehouse on 1.03 acres in Edina.
      5000 78Th St W, Edina, MN 55344
      View Details
    • Contact for pricing
      50,043 SF

      Eden Prairie Flex/Industrial Space

      Flexible floor plans and heavy parking in Eden Prairie.
      9945-9995 W 69Th St, Eden Prairie, MN 55344
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,473 SF

      Eden Prairie Industrial Space

      Industrial property available for rent in Eden Prairie, Minnesota.
      7905 Golden Triangle Dr, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      4,507 SF

      Eden Prairie Industrial Property

      Industrial property in Eden Prairie with convenient highway access.
      7650-7682 Executive Dr, Eden Prairie, MN 55344
      View Details
    • Sponsored
      Contact for pricing

      Crosstown Corporate

      Discover many ways to work your way in Crosstown Corporate
      6385 Old Shady Oak Rd, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      7,665 SF

      Eden Prairie Warehouse Space Available

      7,665 SF warehouse space available in Eden Prairie, MN.
      7150-7198 Shady Oak Rd, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      8,102 SF

      Office Warehouse Space For Lease

      Small-bay office warehouse space available for lease in Golden Triangle.
      7625 Golden Triangle Dr, Eden Prairie, MN 55344
      View Details
    • Contact for pricing
      14,975 SF

      Eden Prairie Warehouse Space Available

      Warehouse space in Eden Prairie with highway access and amenities.
      6801-6813 Shady Oak Rd, Eden Prairie, MN 55344
      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.
    7970 Wallace Rd
    Eden Prairie, MN 55344-2232
    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!