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3553 Hennepin Ave Minneapolis, MN 55408

For Sale
$740,000

Fully leased retail property with future development potential near Bde Mka Ska.

Property size:
1,347 SF
Lot size:
0.24 Acres

Property Features for 3553 Hennepin Ave

General Information

Size
1,347 SF
Lot size
0.24 Acres

Source: Suntide Commercial Realty, Inc. Agent Jim Kenney

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Leased Retail Space Near Bde Mka Ska

This 1,347-square-foot retail property is 100% leased through July 31, 2029, with the tenant having a 5-year option to renew. The annual average net operating income is $49,019, with an additional 5% management fee, totaling $51,467. The tenant is responsible for virtually all expenses, and the lease is available for review. Situated on an approximately 10,350-square-foot corner urban infill site, the property includes approximately 11 parking spaces. Real estate taxes are $21,886.16, which the tenant pays. The assessed value is $709,000. A new roof was installed in the spring of 2024. Located on the #6 Bus Line, the property offers close proximity and direct access to Bde Mka Ska. There is potential for assemblage of neighboring properties for larger-scale development, and renderings for such development are available upon request. Future multi-family development is possible, potentially accommodating approximately 29 units, 1,500 square feet of commercial space, and 18 parking stalls, or more; buyers should verify these possibilities.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Uptown Vision Eye Care Center Dr. Mark Sabre Optometrist Tamara Legg Optometrist

Suggested Use

Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

Location Insight

  • Map
  • Local Demand
City
Minneapolis
County
Anoka
State
Minnesota
Longitude
-93.2981283
Latitude
44.937982

FAQs

What type of property is this?
Retail space - Fully leased retail property with future development potential near Bde Mka Ska.
Where is this retail space located?
The property is located at 3553 Hennepin Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: - 100% Leased through July 31, 2029, providing stable income.; - Annual Average NOI of $49,019 +5% mgmt fee = $51,467.; - Future Multi-Family Development potential (approximately 29 units, 1,500 sf commercial, 18 parking stalls).
More about this property
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