Mixed-Use Apartment and Retail
For Sale
Contact for pricing
Pending
1009 Park Avenue, Minneapolis, MN 55404
Restored 1901 building with 75 apartments and five ground-floor retail spaces, plus on-site elevator and controlled access.
Property SizeContact for details
Days on Market323
Property Features for 1009 Park Avenue
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
75
Building Details
Year Built
1901
Tenancy
Multi
Listing Agency:
Michel Commercial Real Estate International
Listed By:
Ukee Dozier · License #40993914
Source:
Crexi
Added: Oct 20, 2025
Changed: Aug 16
Last Checked: Sep 4 at 9:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Michel Commercial Real Estate International
Investment Insights
Based on property information with market context.
The Drexel Apartments is a mixed-use, restored 1901 building offering 75 apartment homes and five ground-floor retail spaces. Unit mix includes studio, one-, and two-bedroom apartments, featuring original millwork, high ceilings, curved brick accents, and oversized windows. The property also has an on-site elevator and controlled access.
Located on Park Avenue in Minneapolis, The Drexel is described as being just blocks from the Minneapolis Convention Center and major healthcare campuses. The remarks further note convenient connectivity to I-35W and I-94 and that public transit and light rail options are just blocks away.
For buyers and investors, the offering highlights potential value-add paths, including improving occupancy by accepting Section 8 voucher residents, enhancing operational efficiency using a Ratio Utility Billing System (RUBS), and pursuing 4d tax classification to reduce the property’s tax burden, as described in the marketing materials.
Located on Park Avenue in Minneapolis, The Drexel is described as being just blocks from the Minneapolis Convention Center and major healthcare campuses. The remarks further note convenient connectivity to I-35W and I-94 and that public transit and light rail options are just blocks away.
For buyers and investors, the offering highlights potential value-add paths, including improving occupancy by accepting Section 8 voucher residents, enhancing operational efficiency using a Ratio Utility Billing System (RUBS), and pursuing 4d tax classification to reduce the property’s tax burden, as described in the marketing materials.
Key Highlights
- Restored 1901 mixed‑use building with 75 apartments and five ground‑floor retail spaces
- Studio, 1- and 2‑bedroom units with original millwork, high ceilings, curved brick accents, and oversized windows
- On‑site elevator and controlled access for resident convenience and security
Property Analytics
Property Profile
Current Use
Lease Details
75
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Restored 1901 building with 75 apartments and five ground-floor retail spaces, plus on-site elevator and controlled access.
Where is this apartment building located?
The property is located at 1009 Park Avenue Minneapolis, MN.
What are key features of this property?
This property features: Restored 1901 mixed‑use building with 75 apartments and five ground‑floor retail spaces; Studio, 1- and 2‑bedroom units with original millwork, high ceilings, curved brick accents, and oversized windows; On‑site elevator and controlled access for resident convenience and security
