For Sale: Minneapolis MLS# 6692065
Active
$2,250,000
Commercial: Other
Built 1926
0.46 acres
Minneapolis schools
MLS# 6692065
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Property Description
3610 Lyndale Ave S is a prime retail + auto repair, or redevelopment opportunity in the heart of South Minneapolis. This unique investment includes a well-located 22, 640 SF, one-story building with a lower level that is situated on 0.46 acres at the high-visibility intersection of 36th and Lyndale.
With a strong traffic count of 11, 655 vehicles per day on Lyndale Ave, 9, 178 vehicles per day on W 36th St, and easy access to I-35W, this site presents an outstanding opportunity for owner-users, investors, or developers seeking a strategic property in a thriving urban corridor.
Included in this sale is the well-established Parents Auto business. Family-owned and serving the Minneapolis community since 1949, Parents Auto has built a strong reputation as a trusted auto service provider. The sale includes the business along with its furniture, fixtures, and equipment (FF&E), offering a turnkey opportunity for those looking to continue its legacy or reposition the space for a new use. The seller has seven employees, not including himself. Five of whom are technicians with varying degrees of skill and experience; all would like to stay. Parents Auto uses NAPA TRACKS as a POS system.
Contact listing broker for details on the business asset sale including financial documents and more upon a signed Non-Disclosure Agreement (NDA). All documents in listing brokers possession can be found on Pg. 9 of Offering Memorandum. Contact listing broker for Offering Memorandum.
The real estate itself consists of a spacious, one-level building with a lower level that has significant potential. The main level features a reception/office area on one side of the building that Parents Auto operates out of while NAPA currently leases the other side for their store. Parents Auto occupies 10, 887 SF on the main level and 9, 475 SF on the lower level. NAPA leases and occupies 2, 276 SF on the main level.
The space includes 10 car lifts and ample workspace, while the lower level offers additional open space ideal for extra work areas or storage. The buildingâ??s non-functioning boiler needs to be replaced with a new radiant heating system (bids are complete). The roof and HVAC system will require replacement. The propertyâ??s CM2 zoning allows for a range of permitted uses, including retail, office, or redevelopment.
The surrounding area boasts strong demographics, with an average household income of $105, 592 within a one-mile radius, further enhancing the siteâ??s investment appeal.
The current modified NAPA net lease expires March 31, 2025. Seller is currently negotiating an additional short term (1-2 year) lease extension with potential short-term option to renew.
This prime location, combined with flexible zoning, makes 3610 Lyndale Ave S a compelling opportunity for owner-users, investors, or developers.
All tours are coordinated by listing broker.
DO NOT DISTURB THE TENANTS AT EITHER NAPA OR PARENTS AUTO.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,250,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
3
County:
Hennepin
Year Built:
1926
State:
MN
Property Style:
Other
Zip Code:
55409
Neighborhood/Area:
East Harriet
Subdivision Name:
Remingtons 2nd Add
Interior
Ceiling Height:
11-15
Exterior
Garage Spaces:
3
Other Parking Spaces:
15
Foundation Size:
13,166 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Off Site
- Parking Lot
Exterior Material:
- Block
- Brick/Stone
Lot & Land
Acres:
0.46
Geolocation:
44.937402, -93.288636
Inclusions:
Building, Business Assets, Business, Fixture/Equipment, Inventory, Leases
Lot Dimensions:
119 x 170
Zoning:
Business/Commercial
Lot Description:
Corner Lot
Schools
School District:
1
District Phone:
612-668-0000
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$42,850
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$42,850
Units
Total Units:
2
Miscellaneous
Current Use:
- Automotive
- Commercial
- Professional/Office
- Retail
Fuel System:
Natural Gas
Owner Occupied:
Yes
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Results.
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.