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Riverview Office Tower 8009 34th Ave S

235,271 SF 57% Leased 4-Star Office Building Bloomington, MN 55425 For Sale

Investment Highlights

  • Positive operating cash flow will return with delivery on new GSA lease (Spring 2024)
  • Located in an Opportunity Zone with significant upside
  • Surrounded by many new Multi-Family developments, brining new energy and employees to this submarket
  • Less than 20 minutes to CBD of Minneapolis or St. Paul, 3 miles from MSP International Airport, and 1.3 miles away from Mall of America
  • WALT 3.8 Years
  • 1,200 (+/-) space parking ramp and additional surface parking - covered parking is a valued tenant amenity

Executive Summary

NAI Farbman and NAI Legacy are pleased to present the receiver directed sale of Riverview Office Tower (the “Property”), an opportunity for investors to acquire a well-located value-add office property in Bloomington, Minnesota. The property is currently underoccupied, providing tremendous upside for the next owner. We project a stabilized NOI of$2,856,709 at the end of Year 3 at an occupancy of 94% in our analysis. Aside from the building’s excellent location, the property currently offers a large parking garage with 1,212(+/-) spaces, functional floor plates and nearby amenities. The proximity to MSP Airport and the Mall of America, hotels and restaurants in the surrounding area is attractive to a variety of tenants. The property can be purchased at a basis that will allow the next owner to aggressively pursue new tenant leases.

Property Facts

Sale Type
Investment
Sale Conditions
Distress Sale
Property Type
Office
Building Size
235,271 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1973/1993
Percent Leased
57%
Tenancy
Multiple
Building Height
15 Stories
Typical Floor Size
15,685 SF
Slab To Slab
12’
Building FAR
4.00
Lot Size
1.35 AC
Opportunity Zone
Yes
Zoning
CO-1 - Commercial Office District
Parking
945 Spaces (4.02 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Bus Line
  • Commuter Rail
  • Convenience Store
  • Courtyard
  • Fitness Center
  • Property Manager on Site
  • Restaurant
  • Security System
  • Signage
  • Energy Star Labeled
  • Storage Space
  • Bicycle Storage
  • Secure Storage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 125
  • 5,081 SF
  • Office
  • Full Build-Out
  • Now

First floor suite with 3 entrances and easy access to two of the main building entrances/exits. Ten private offices along window line. Two interior offices. Kitchen with sink, water line, and availability for refrigerator and above/below cabinets. Break room with cabinets along window line. Two conference rooms along window line. Lobby. Work area with above/below built-in cabinets. Lots of open space throughout suite.

  • 1st Fl-Ste 150
  • 850 SF
  • Office
  • Full Build-Out
  • Now

Located on the main floor by one of the main entrances. One office on the main window line, one office/conference room along window line. Reception area and copy room with water line, built-in cabinets/counter. File room with separate locked entrance.

  • 1st Fl-Ste 175
  • 2,098 SF
  • Office
  • Full Build-Out
  • Now

Ideal suite on the 1st floor with immediate access from guest parking entrance. One office and one conference room on the window line. Open space. Kitchen area with built-in cabinets and sink. Server room/closet area off kitchen area.

  • 1st Fl-Ste 185
  • 1,205 SF
  • Office
  • -
  • 30 Days
  • 1st Fl-Ste 195
  • 884 SF
  • Office
  • Full Build-Out
  • Now

Lobby level; close to parking. Located on the northeast corner with 2 offices along the window line and a receptionist area. Features include a kitchen/breakroom,which is shared with the tenant next door, and a room that can be used as either a server room or storage.

  • 2nd Fl-Ste 200
  • 7,085 SF
  • Office
  • Full Build-Out
  • Now

Perfect space for a company where everyone needs an office. 13 offices on window line and 5 interior offices. 1 conference room w/glass door and walls on one side, kitchen with dishwasher and built-in cabinets, server room and 2 closets. Built-in bookshelves, 3 file cabinet nooks, 1 area with built-in lower cabinets, and 1 partially walled copy area with lower built-in cabinets. Small open area along window line. Interior space for cubicles. Glass walled entry with double glass entry doors and doorbell. Back entry.

  • 3rd Fl-Ste 300
  • 2,494 SF
  • Office
  • Full Build-Out
  • Now

View of MN Wildlife Refuge. Open space. Conference room with glass door on window line, 3 offices/meeting rooms on window line, and 4 offices/meeting room in interior space. Kitchen with dishwasher, refrigerator, water line and built-in cabinets. Storage area with built-in cabinets and another water line. Server room with thermostat switch for a ceiling fan. Some office/meeting rooms with glass doors.

  • 4th Fl-Ste 400
  • 15,104 SF
  • Office
  • Full Build-Out
  • Now

South and west facing OPEN CONCEPT with kitchen and 2 offices or conference rooms. Bright and well-lit with excellent elevator lobby exposure.

  • 6th Fl-Ste 600
  • 15,104 SF
  • Office
  • Full Build-Out
  • Now

Full floor with lots of open space. 2 secured entries, 6 private offices on window line, 1 training room on window line, 1 breakroom with built-ins, 1 small interior gathering room, 1 copy area cove with built-ins, 1 server room and 116 workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

  • 7th Fl-Ste 700
  • 15,055 SF
  • Office
  • Full Build-Out
  • Now

Full floor with lots of open space. 2 secured entries, 2 Private offices on window line, 1 conference room, 1 breakroom, 1 server room, 1 copy room with built-in shelves, and multiple workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

  • 8th Fl-Ste 800
  • 8,012 SF
  • Office
  • Full Build-Out
  • 30 Days

Our co-share office space features high speed Internet, a conference room and an in-building full service cafe and convenience store. The offices are ready to move in today. Great view of the MN Valley National Wildlife Refuge. Please call to schedule a tour and begin the process of having your own office space.

  • 8th Fl-Ste 825
  • 1,877 SF
  • Office
  • Full Build-Out
  • Now

Luxurious small office with views of the MN Wildlife Refuge. One large office, one office/conference room (glass interior wall), and one conference room (glass interior wall) all on the window line. One office and reception area in interior. Large sized work area/filing cabinet room with 2 areas with upper/lower built-ins, one with a sink.

  • 8th Fl-Ste 850
  • 4,138 SF
  • Office
  • Full Build-Out
  • Now

Suite 850 consists of eight private offices and a spacious conference room on the window line overlooking the Wilderness Refuge and Mall of America. Interior consists of a kitchen/break room, a large room that could be used for training, a reception area at main entrance, and plenty of room for file storage.

  • 9th Fl-Ste 900
  • 8,759 SF
  • Office
  • -
  • Now
  • 9th Fl-Ste 970
  • 1,656 SF
  • Office
  • Full Build-Out
  • Now

MOVE-IN TODAY: Fully furnished, freshly painted. Great views of MN Wildlife Refuge. Two offices and conference room on window line. Sink available. Lobby area and server/supply room.

  • 9th Fl-Ste 975
  • 1,439 SF
  • Office
  • Full Build-Out
  • Now

Located on the east side overlooking MN Valley National Wildlife Refuge with 3 offices on the window line and 2 interior offices. Workroom and separate reception area.

  • 10th Fl-Ste 1000
  • 12,281 SF
  • Office
  • Full Build-Out
  • Now

Lots of open space with great views and with one side view of MN Wildlife Refuge. Secured entry with small waiting area, 5 private offices along window line, 2 interior offices, 1 conference room with built-ins, 1 breakroom with built-ins, 1 mail/copy room, 1 server room, and multiple workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

  • 12th Fl-Ste 1200
  • 6,616 SF
  • Office
  • -
  • Now
  • 14th Fl-Ste 1495
  • 599 SF
  • Office
  • -
  • 30 Days
  • 15th Fl-Ste 1530
  • 1,667 SF
  • Office
  • Full Build-Out
  • Now

IMMEDIATE OCCUPANCY: MOVE-IN READY: Office has been newly painted and carpet. SW corner suite that overlooks both MN Wildlife Refuge and Mall of America. Two offices with one along the window line. Small reception area/lobby inside door. Open area that has views of both Wildlife Refuge and Mall of America.

Space Size Space Use Condition Available
1st Fl-Ste 125 5,081 SF Office Full Build-Out Now
1st Fl-Ste 150 850 SF Office Full Build-Out Now
1st Fl-Ste 175 2,098 SF Office Full Build-Out Now
1st Fl-Ste 185 1,205 SF Office - 30 Days
1st Fl-Ste 195 884 SF Office Full Build-Out Now
2nd Fl-Ste 200 7,085 SF Office Full Build-Out Now
3rd Fl-Ste 300 2,494 SF Office Full Build-Out Now
4th Fl-Ste 400 15,104 SF Office Full Build-Out Now
6th Fl-Ste 600 15,104 SF Office Full Build-Out Now
7th Fl-Ste 700 15,055 SF Office Full Build-Out Now
8th Fl-Ste 800 8,012 SF Office Full Build-Out 30 Days
8th Fl-Ste 825 1,877 SF Office Full Build-Out Now
8th Fl-Ste 850 4,138 SF Office Full Build-Out Now
9th Fl-Ste 900 8,759 SF Office - Now
9th Fl-Ste 970 1,656 SF Office Full Build-Out Now
9th Fl-Ste 975 1,439 SF Office Full Build-Out Now
10th Fl-Ste 1000 12,281 SF Office Full Build-Out Now
12th Fl-Ste 1200 6,616 SF Office - Now
14th Fl-Ste 1495 599 SF Office - 30 Days
15th Fl-Ste 1530 1,667 SF Office Full Build-Out Now

1st Fl-Ste 125

Size
5,081 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 150

Size
850 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 175

Size
2,098 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 185

Size
1,205 SF
Space Use
Office
Condition
-
Available
30 Days

1st Fl-Ste 195

Size
884 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 200

Size
7,085 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Fl-Ste 300

Size
2,494 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

4th Fl-Ste 400

Size
15,104 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

6th Fl-Ste 600

Size
15,104 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

7th Fl-Ste 700

Size
15,055 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

8th Fl-Ste 800

Size
8,012 SF
Space Use
Office
Condition
Full Build-Out
Available
30 Days

8th Fl-Ste 825

Size
1,877 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

8th Fl-Ste 850

Size
4,138 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

9th Fl-Ste 900

Size
8,759 SF
Space Use
Office
Condition
-
Available
Now

9th Fl-Ste 970

Size
1,656 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

9th Fl-Ste 975

Size
1,439 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

10th Fl-Ste 1000

Size
12,281 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

12th Fl-Ste 1200

Size
6,616 SF
Space Use
Office
Condition
-
Available
Now

14th Fl-Ste 1495

Size
599 SF
Space Use
Office
Condition
-
Available
30 Days

15th Fl-Ste 1530

Size
1,667 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 125

Size 5,081 SF
Space Use Office
Condition Full Build-Out
Available Now

First floor suite with 3 entrances and easy access to two of the main building entrances/exits. Ten private offices along window line. Two interior offices. Kitchen with sink, water line, and availability for refrigerator and above/below cabinets. Break room with cabinets along window line. Two conference rooms along window line. Lobby. Work area with above/below built-in cabinets. Lots of open space throughout suite.

1st Fl-Ste 150

Size 850 SF
Space Use Office
Condition Full Build-Out
Available Now

Located on the main floor by one of the main entrances. One office on the main window line, one office/conference room along window line. Reception area and copy room with water line, built-in cabinets/counter. File room with separate locked entrance.

1st Fl-Ste 175

Size 2,098 SF
Space Use Office
Condition Full Build-Out
Available Now

Ideal suite on the 1st floor with immediate access from guest parking entrance. One office and one conference room on the window line. Open space. Kitchen area with built-in cabinets and sink. Server room/closet area off kitchen area.

1st Fl-Ste 185

Size 1,205 SF
Space Use Office
Condition -
Available 30 Days

1st Fl-Ste 195

Size 884 SF
Space Use Office
Condition Full Build-Out
Available Now

Lobby level; close to parking. Located on the northeast corner with 2 offices along the window line and a receptionist area. Features include a kitchen/breakroom,which is shared with the tenant next door, and a room that can be used as either a server room or storage.

2nd Fl-Ste 200

Size 7,085 SF
Space Use Office
Condition Full Build-Out
Available Now

Perfect space for a company where everyone needs an office. 13 offices on window line and 5 interior offices. 1 conference room w/glass door and walls on one side, kitchen with dishwasher and built-in cabinets, server room and 2 closets. Built-in bookshelves, 3 file cabinet nooks, 1 area with built-in lower cabinets, and 1 partially walled copy area with lower built-in cabinets. Small open area along window line. Interior space for cubicles. Glass walled entry with double glass entry doors and doorbell. Back entry.

3rd Fl-Ste 300

Size 2,494 SF
Space Use Office
Condition Full Build-Out
Available Now

View of MN Wildlife Refuge. Open space. Conference room with glass door on window line, 3 offices/meeting rooms on window line, and 4 offices/meeting room in interior space. Kitchen with dishwasher, refrigerator, water line and built-in cabinets. Storage area with built-in cabinets and another water line. Server room with thermostat switch for a ceiling fan. Some office/meeting rooms with glass doors.

4th Fl-Ste 400

Size 15,104 SF
Space Use Office
Condition Full Build-Out
Available Now

South and west facing OPEN CONCEPT with kitchen and 2 offices or conference rooms. Bright and well-lit with excellent elevator lobby exposure.

6th Fl-Ste 600

Size 15,104 SF
Space Use Office
Condition Full Build-Out
Available Now

Full floor with lots of open space. 2 secured entries, 6 private offices on window line, 1 training room on window line, 1 breakroom with built-ins, 1 small interior gathering room, 1 copy area cove with built-ins, 1 server room and 116 workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

7th Fl-Ste 700

Size 15,055 SF
Space Use Office
Condition Full Build-Out
Available Now

Full floor with lots of open space. 2 secured entries, 2 Private offices on window line, 1 conference room, 1 breakroom, 1 server room, 1 copy room with built-in shelves, and multiple workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

8th Fl-Ste 800

Size 8,012 SF
Space Use Office
Condition Full Build-Out
Available 30 Days

Our co-share office space features high speed Internet, a conference room and an in-building full service cafe and convenience store. The offices are ready to move in today. Great view of the MN Valley National Wildlife Refuge. Please call to schedule a tour and begin the process of having your own office space.

8th Fl-Ste 825

Size 1,877 SF
Space Use Office
Condition Full Build-Out
Available Now

Luxurious small office with views of the MN Wildlife Refuge. One large office, one office/conference room (glass interior wall), and one conference room (glass interior wall) all on the window line. One office and reception area in interior. Large sized work area/filing cabinet room with 2 areas with upper/lower built-ins, one with a sink.

8th Fl-Ste 850

Size 4,138 SF
Space Use Office
Condition Full Build-Out
Available Now

Suite 850 consists of eight private offices and a spacious conference room on the window line overlooking the Wilderness Refuge and Mall of America. Interior consists of a kitchen/break room, a large room that could be used for training, a reception area at main entrance, and plenty of room for file storage.

9th Fl-Ste 900

Size 8,759 SF
Space Use Office
Condition -
Available Now

9th Fl-Ste 970

Size 1,656 SF
Space Use Office
Condition Full Build-Out
Available Now

MOVE-IN TODAY: Fully furnished, freshly painted. Great views of MN Wildlife Refuge. Two offices and conference room on window line. Sink available. Lobby area and server/supply room.

9th Fl-Ste 975

Size 1,439 SF
Space Use Office
Condition Full Build-Out
Available Now

Located on the east side overlooking MN Valley National Wildlife Refuge with 3 offices on the window line and 2 interior offices. Workroom and separate reception area.

10th Fl-Ste 1000

Size 12,281 SF
Space Use Office
Condition Full Build-Out
Available Now

Lots of open space with great views and with one side view of MN Wildlife Refuge. Secured entry with small waiting area, 5 private offices along window line, 2 interior offices, 1 conference room with built-ins, 1 breakroom with built-ins, 1 mail/copy room, 1 server room, and multiple workstations. Furnished. Furniture and workstations are optional. Updated ADA compliant restrooms.

12th Fl-Ste 1200

Size 6,616 SF
Space Use Office
Condition -
Available Now

14th Fl-Ste 1495

Size 599 SF
Space Use Office
Condition -
Available 30 Days

15th Fl-Ste 1530

Size 1,667 SF
Space Use Office
Condition Full Build-Out
Available Now

IMMEDIATE OCCUPANCY: MOVE-IN READY: Office has been newly painted and carpet. SW corner suite that overlooks both MN Wildlife Refuge and Mall of America. Two offices with one along the window line. Small reception area/lobby inside door. Open area that has views of both Wildlife Refuge and Mall of America.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
06-027-23-24-0010
Land Assessment
$1,545,148 CAD
Improvements Assessment
$17,010,675 CAD
Total Assessment
$18,555,823 CAD
  • Listing ID: 34062251

  • Date on Market: 2023-09-01

  • Last Updated:

  • Address: 8009 34th Ave S, Bloomington, MN 55425

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