1500 Lake St Minneapolis, MN 55407

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.