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    2221 15Th Ave Minneapolis, MN 55404

    Sponsored
    For Sale
    $499,900

    High-yield investment, flexible zoning.

    Property size:
    6,206 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This unique Minneapolis property presents a rare opportunity to acquire a nearly quarter-block mixed-use building at 2221 15th Avenue S. The 6,206 square foot building sits on a 0.17-acre lot and offers a compelling blend of commercial and residential income streams. Currently, the main floor houses two commercial units rented to a single, long-term tenant for $2400 per month, providing a stable and reliable income source. The tenant expresses a strong preference to remain. Upstairs, two residential apartments offer additional revenue potential. A one-bedroom apartment is rented month-to-month for $750 (below market value), while a unique, owner-occupied studio apartment boasts 12-foot ceilings and a shared rooftop deck. The substantial unfinished basement space presents significant expansion possibilities, allowing for the addition of finished square footage to the commercial area or the creation of another residential unit. A four-car garage, currently used by the owner, has generated supplemental income from neighboring tenants in the past. The closing date is flexible, offering buyers considerable convenience. This property is ideal for investors seeking a strong return on investment with the potential for significant future appreciation and income growth. The combination of established commercial tenancy, residential rental income, and substantial expansion potential makes this a truly exceptional opportunity in a desirable Minneapolis location.

    Property Features for 2221 15Th Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,206 SF
    Lot Size
    7,405 SF

    Building Details

    Year Built
    1911
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.25333
    Latitude
    44.96022

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield investment, flexible zoning.
    Where is this commercial real estate located?
    The property is located at 2221 15Th Ave Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $499,900.
    (651) 251-4800
    Request Owner's contact information
    2221 15Th Ave Minneapolis, MN 55404
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    Minneapolis, MN 55404
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2221 15Th Ave Minneapolis, MN 55404
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