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Property profile & analytics
FOR LEASE
Commercial real estate
800 Lasalle Ave, Minneapolis, MN 55402
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-3203506
For Lease
1 / 3
$22 SF/Yr
800 Lasalle Ave, Minneapolis, MN 55402
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1990
Construction
CONCRETE
Total area
726,250 SF
Lot
0.64 ac (27,878 SF)
Zoning code
B4-2
APN
27-029-24-12-0125
UPID
US46-3203506
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
McGill Company Inc Business Management Consultant Business Administration Service
-
McKinsey & Co Business Management Consultant
-
Skyline G - Executive Coaching & Leadership Development Employment Agency Business Service Center
-
Broadway Across America Theater & Performing Art Venue
-
Frerichs Matthew J Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$76.68M
Owner & transaction history
Lasalle Plaza Master Lessor LLC · 2 yrs held
Lasalle Plaza Master Lessor LLC
since 2023
Last sale
$94.8M
6 recorded transactions
Zoning & alternative use
B4-2 · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$67.6M
+84.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$80,480,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$67,600,000
Change: +85% · Conversion: Moderate
Blend value · Realmo final
$76.68M
Range $69.01M – $84.34M · ±10% · vs last sale $94.80M (Jul 18 2023)
Last sale anchor
$94.80M
Jul 18 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$106 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,474,625
Tax year 2023
Assessed value
$76,387,000
Assessed 2023
Previous assessed
$87,271,400
-12.5% YoY
Effective rate
3.24%
On assessed value
Assessed land
$5,812,800
Assessed improvement
$70,574,200
Land market value
$5,812,800
Improvement market value
$70,574,200
Total market value
$76,387,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1990
Construction
CONCRETE
Heating
STEAM
Cooling
YES
Stories
28
Total area
726,250 SF
Lot
0.64 ac (27,878 SF)
Zoning code
B4-2
APN
27-029-24-12-0125
UPID
US46-3203506
Jurisdiction
HENNEPIN
Zoning & alternative use
B4-2 · Minneapolis, MN
Zoning B4-2 · permitted uses
B4-2 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$67.6M
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
CONCRETE
Heating
STEAM
Cooling
Yes
Stories
28
Lot
0.64 ac
Current owner
From public records · entity-resolved
Lasalle Plaza Master Lessor LLC
Entity
Free & Clear · 2 yrs held
Mailing address
10050 CROSSTOWN CIR STE #600, EDEN PRAIRIE, MN 55344-3347
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2023
—
Lasalle Plaza Master Lessor LLC
Zeller 800 Lasalle Avenue LLC
Quit Claim Deed
related
—
May 3, 2012
—
Zeller-800 Lasalle Avenue LLC
Zeller-lasalle Plaza LLC
Quit Claim Deed
related
—
Nov 29, 2011
—
Zeller-lasalle Plaza LLC
—
Deed Of Trust
related
$88,250,000 · General Electric Capital Corp
Dec 4, 2006
$94,800,000
Zeller-lasalle Plaza LLC
Mn-lasalle Plaza LLC
Warranty Deed
—
—
—
Zeller-800 Lasalle Avenue LLC
—
Loan Modification
related
$92,000,000 · Northwestern Mutual Life Ins
—
—
Zeller-800 Lasalle Avenue LLC
—
Deed Of Trust
related
$92,000,000 · Us Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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?”
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