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1500 Lake St Minneapolis, MN 55407

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Historic Theater, Prime Location, Investment Opportunity

Property size:
10,680 SF

Description

Added:
Feb 3, 2025
Days on Market:
339
The iconic Avalon Theater, located at 1500 E Lake Street in Minneapolis, Minnesota, presents a unique investment opportunity. This 10,680 square foot building sits on a 0.2-acre lot in the vibrant East Lake Street neighborhood of Midtown Phillips, a bustling Opportunity Zone offering potential tax advantages. The property boasts a striking art deco exterior and a prominent marquee, ensuring excellent visibility on a major commercial corridor. Its versatile interior space is suitable for a wide range of uses, including a theater, community center, educational facility, place of worship, or fitness center. Recent renovations include a remodeled office, kitchenette, and boardroom completed in 2021, and an updated HVAC system installed in 2018. An ADA-compliant bathroom is conveniently located on the main level. The Avalon Theater benefits from strong public transit connections, easy freeway access, and proximity to numerous restaurants, businesses, and a thriving residential community. This exceptional property offers a blend of historical charm and modern amenities, making it an attractive proposition for discerning investors seeking a high-impact, multi-use space. The building's size and location within a designated Opportunity Zone present a compelling investment case.

Property Features for 1500 Lake St

General Information

Property type
Other commercial real estate
Square Feet
10,680 SF
Lot Size
8,712 SF

Building Details

Year Built
1937

Location Intelligence

Current Use by Public Records

In the Heart of the Beast Performing Arts Theater HOURCAR Hub Car Sharing Location bb.q Chicken Uptown ... Fried Chicken Takeaway

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
Minneapolis
County
Hennepin
State
Minnesota
Longitude
-93.2535
Latitude
44.94862

FAQs

What type of property is this?
Commercial real estate - Historic Theater, Prime Location, Investment Opportunity
Where is this commercial real estate located?
The property is located at 1500 Lake St Minneapolis, MN.
What is the asking price?
The asking price for this property is $1.00.
More about this property
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