Log In/Sign Up
Your email has been sent.
2429 Nicollet Ave 19,683 SF 100% Leased Office Building Minneapolis, MN 55404 $3,400,000 ($172.74/SF) 7.03% Cap Rate
Investment Highlights
- Completely renovated building in 2016 - High end finishes, all new mechanicals, windows, roof, HVAC, Elevator *see full list in supplements.
- Open floor plan - high ceilings
- Two large parking lots on either side of the building - very rare in mpls
Executive Summary
The building is fully Leased. There is a possibility for an owner/user to occupy the main floor (7,000sf) in 12 months.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
19,683 SF
Building Class
B
Year Built/Renovated
1957/2016
Price
$3,400,000
Price Per SF
$172.74
Cap Rate
7.03%
NOI
$239,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
6,561 SF
Building FAR
0.59
Lot Size
0.76 AC
Zoning
C3 - C3 - Commercial and high density residential.
Parking
55 Spaces (2.79 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Kitchen
- Bicycle Storage
- Shower Facilities
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 34-029-24-13-0315 | Total Assessment | $2,780,000 (2024) |
| Land Assessment | $600,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,180,000 (2024) | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
34-029-24-13-0315
Land Assessment
$600,000 (2024)
Improvements Assessment
$2,180,000 (2024)
Total Assessment
$2,780,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
1 of 28
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2429 Nicollet Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.