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8535 NE Central Ave 5,788 SF 68% Leased Office Building Blaine, MN 55434 $600,000 ($103.66/SF) 8.06% Cap Rate
Executive Summary
Great condition 5,788 square foot office building in prime Highway 65 location. Building includes 7 units, two garage stalls, and private rear parking area and entrance. Rear 1637 sq. ft. unit with reception area, multiple offices, meeting room and private entrance with truck parking is currently vacant and ready for it's next business. Previously occupied by construction companies and real estate firm. Roof and rooftop HVAC replaced in last 10 years. Owned and well maintained by the same family for 40+ years. Excellent longterm investment opportunity for investor or owner occupant in a high visibility location.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$76,440
|
$13.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$76,440
|
$13.21
|
| Taxes |
$13,082
|
$2.26
|
| Operating Expenses |
$16,464
|
$2.84
|
| Total Expenses |
$29,546
|
$5.10
|
| Net Operating Income |
$46,894
|
$8.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $76,440 |
| Annual Per SF | $13.21 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $76,440 |
| Annual Per SF | $13.21 |
| Taxes | |
|---|---|
| Annual | $13,082 |
| Annual Per SF | $2.26 |
| Operating Expenses | |
|---|---|
| Annual | $16,464 |
| Annual Per SF | $2.84 |
| Total Expenses | |
|---|---|
| Annual | $29,546 |
| Annual Per SF | $5.10 |
| Net Operating Income | |
|---|---|
| Annual | $46,894 |
| Annual Per SF | $8.10 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
5,788 SF
Building Class
C
Year Built/Renovated
1970/2008
Price
$600,000
Price Per SF
$103.66
Cap Rate
8.06%
NOI
$48,336
Percent Leased
68%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,788 SF
Slab To Slab
10’
Building FAR
0.27
Lot Size
0.50 AC
Zoning
3A-Comm land & Business
Parking
15 Spaces (2.59 Spaces per 1,000 SF Leased)
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Holistic Veterinary Care Home
- Professional, Scientific, and Technical Services
- -
- -
- -
- Management 65
- -
- -
- -
- -
- Stanger Insurance Agency
- Finance and Insurance
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Holistic Veterinary Care Home | Professional, Scientific, and Technical Services | - | - | - | ||
| Management 65 | - | - | - | - | ||
| Stanger Insurance Agency | Finance and Insurance | - | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 32-31-23-43-0042 | Total Assessment | $478,500 (2026) |
| Land Assessment | $202,000 (2026) | Annual Taxes | $13,082 ($2.26/SF) |
| Improvements Assessment | $276,500 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
32-31-23-43-0042
Land Assessment
$202,000 (2026)
Improvements Assessment
$276,500 (2026)
Total Assessment
$478,500 (2026)
Annual Taxes
$13,082 ($2.26/SF)
Tax Year
2025
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Presented by
The Northeast Real Estate Group
8535 NE Central Ave
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