Sign Up Successful!
You now have access to more from Realmo!
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

    8501 Springbrook NW Dr Minneapolis, MN 55433-6032

    • Commercial real estate
    • 3,432 SF
    • 1.17 lot acres
    OFF-MARKET
    Last Sale
    Jan 12, 2023
    $2,320,000
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    2.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US46-0849683
    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

    • Z’XChimneySweep / General Contractor / Renovation Specialist

    Property Details for 8501 Springbrook NW Dr

    Year built
    1992
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.17 lot acres
    Property size
    3,432 SF
    Property type
    Commercial real estate
    APN
    31-31-23-33-0008
    APU
    313123330008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,970,000
      ML approach
      $2,430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2666
    Latitude
    45.1251
    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
    2024
    $28,499
    $544,700
    $645,800
    $1,190,500
    -
    $544,700
    $645,800
    $1,190,500

    Comparable in this City

    • Value Estimation
      $1,685,000
      15,313 SF

      3867 Coon Rpds NW Blvd

      COMMERCIAL (GENERAL) • 15,313 SF
      3867 Coon Rpds NW Blvd, Coon Rapids, MN 55433-2518
      View Details
    • Value Estimation
      $915,000
      10,705 SF

      Coon Rapids, MN 55433

      COMMERCIAL (GENERAL) • 10,705 SF
      Coon Rapids, MN 55433
      View Details
    • Value Estimation
      $10,595,000
      131,139 SF

      3021 124th NW Ave

      COMMERCIAL (GENERAL) • 131,139 SF
      3021 124th NW Ave, Coon Rapids, MN 55433-1761
      View Details
    • Value Estimation
      $1,125,000
      6,440 SF

      3345 124th NW Ave

      COMMERCIAL (GENERAL) • 6,440 SF
      3345 124th NW Ave, Coon Rapids, MN 55433-1818
      View Details
    • Value Estimation
      $1,030,000
      5,875 SF

      9950 Foley NW Blvd

      COMMERCIAL (GENERAL) • 5,875 SF
      9950 Foley NW Blvd, Coon Rapids, MN 55433-5203
      View Details
    • Value Estimation
      $995,000
      6,664 SF

      12465 Riverdale NW Blvd

      COMMERCIAL (GENERAL) • 6,664 SF
      12465 Riverdale NW Blvd, Coon Rapids, MN 55433-4577
      View Details

    Similar Nearby for Sale

    • $372,500
      0.07 Acres

      Two-Unit Office Condo in Coon Rapids

      Two-unit office condo with leases in place through 2026.
      2191 Northdale Blvd NW, Coon Rapids, MN 55433
      View Details
    • $399,000
      0.05 Acres

      Well-Maintained Office Condo For Sale

      Lower level office condo with private offices and parking.
      2163 Northdale Blvd NW, Coon Rapids, MN 55433
      View Details
    • $295,900
      1,900 SF

      Remodeled Townhome with Modern Amenities

      Updated 4-bedroom townhome with remodeled kitchen and spacious layout.
      995 106Th Ln NW, Coon Rapids, MN 55433
      View Details
    • Contact for pricing

      1.85 Acre Commercial Land

      1.85 acre lot visible from Hwy 47.
      9300 Springbrook Dr NW, Coon Rapids, MN 55433
      View Details
    • $850,727

      Commercial Land in Coon Rapids

      Commercial land for sale in Coon Rapids, Minnesota.
      2105 Northdale Blvd NW, Coon Rapids, MN 55433
      View Details
    • Contact for pricing

      Commercial Land Near Foley Park

      Commercial land with industrial zoning, near transportation and businesses.
      9526 Foley Blvd NW, Coon Rapids, MN 55433
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,400 SF

      Retail Building with Showroom/Warehouse

      4,400 SF retail building with showroom, warehouse, and offices.
      11620 Crooked Lake Blvd NW, Coon Rapids, MN 55433
      View Details
    • Contact for pricing
      1,604 SF

      Office Suites in Retail Center

      Office suites available within a vibrant retail center.
      9920 Foley Blvd NW, Coon Rapids, MN 55433
      View Details
    • Contact for pricing
      3,000 SF

      Turnkey Dental Office Space

      Fully built-out dental office in Northdale Commons Office Park.
      2147 Northdale Blvd NW, Coon Rapids, MN 55433
      View Details
    • Contact for pricing
      231,312 SF

      Riverdale Commons: Coon Rapids Retail Space

      Prime Coon Rapids retail/office space available. High-traffic location, strong demographics.
      3300-3480 124Th Ave, Coon Rapids, MN 55433
      View Details
    • $18 SF/Yr
      15,899 SF

      Kelmark Professional Office Space

      Medical office suites, Coon Rapids, MN
      3738 Coon Rpd Blvd, Coon Rapids, MN 55433
      View Details
    • Contact for pricing
      81,473 SF

      Coon Rapids Warehouse Space

      Warehouse space available in Coon Rapids, Minnesota.
      8840-8880 Evergreen Blvd NW, Coon Rapids, MN 55433
      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.
    8501 Springbrook NW Dr
    Minneapolis, MN 55433-6032
    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.