For Sale: Minneapolis MLS# 6686113
Active
$2,250,000
Commercial: Apartments/Retail
Built 2007
0.54 acres
Minneapolis schools
MLS# 6686113
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Property Description
Offering the entire main floor of the Lumen On Lagoon condo building; 13, 099 SF of retail space consisting of 5 total units and all 3 PID's; 33-029-24 43 0144, 33-029-24 43 0146, 33-029-24 43 0148. Long term lease in place with CorePower Yoga for over 36% of the building (+ other tenants). Cap rate of 7.82% based on in-place income. ProForma Cap rate once fully leased is over 14%. Incredible value-add or owner-user investment opportunity in outstanding Uptown location, priced to move. Financials available- contact agent.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,250,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
2007
State:
MN
Property Style:
Apartments/Retail
Zip Code:
55408
Neighborhood/Area:
Lowry Hill East
Interior
Ceiling Height:
11-15
Exterior
Garage Spaces:
0
Other Parking Spaces:
0
Foundation Size:
114 ft2
Handicap Accessible:
Doors 36"+, Grab Bars In Bathroom, Hallways 42"+, No Stairs Internal, Partially Wheelchair
Heating System:
Forced Air
Parking Features:
- More Parking Offsite for Fee
- On-Street Parking Only
Exterior Material:
Other
Lot & Land
Acres:
0.54
Geolocation:
44.948908, -93.294824
Inclusions:
Building, Leases
Lot Dimensions:
114.5 x 114.5
Zoning:
Business/Commercial
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Gross Expense:
$132,299
Tenant Expenses:
All Utilities, Taxes
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$78,350
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$80,039
Income
Annual Gross Income:
$308,307
Rent
Annual Net Income:
$176,007
Units
Total Units:
5
Unit Number:
2930 Emerson No.'s 101 & 102; plus 1201, 1203, & 1
Miscellaneous
Current Use:
- Commercial
- Professional Service
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Heating Separate
- Hot Water Common
- Hot Water Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Grand Real Estate Advisors.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.