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    1500 Lake St Minneapolis, MN 55407

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    For Sale
    Contact for pricing

    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

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    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.
    (612) 978-3257
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    1500 Lake St Minneapolis, MN 55407
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    Minneapolis, MN 55407
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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
    1500 Lake St Minneapolis, MN 55407
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