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    240 Portland Ave Minneapolis, MN 55401

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    For Lease
    $27 SF/Yr ($12,375 /Mo)

    5,500 SF retail space ideal for restaurant use.

    Property size:
    5,500 SF
    Lot size:
    0.50 Acres

    Property Features for 240 Portland Ave

    General Information

    Size
    5,500 SF
    Lot size
    0.50 Acres

    Source: CBRE - Minnesota Agent Gerald Driessen

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

    Overview

    Retail Space in Luxury Building

    Approximately 5,500 square feet of vacant retail space is available for lease on the first floor of a 20-story luxury apartment building, facing Washington and Portland. The suite is ideally suited for a restaurant and is divisible to approximately 1,500 square feet. Currently, the suite is an open space, newly constructed in 2024. The space features entrances on the sidewalk and potential for patio seating. Restrooms are to be built private to the suite. The suite is sprinklered and handicap accessible, featuring large windows facing Washington and Portland, and very high ceilings. The landlord is willing to provide a generous improvement allowance. The base rent is $27.00 NNN per square foot per year, with an additional $10.00 per square foot per year for tax, CAM, and operating expenses. The tenant is responsible for in-suite janitorial services and utilities. The tenant is also responsible for HVAC repairs, replacement, and maintenance; the existing HVAC units are brand new.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail 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
    -93.2606186
    Latitude
    44.9780982

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    FAQs

    What type of property is this?
    Retail space - 5,500 SF retail space ideal for restaurant use.
    Where is this retail space located?
    The property is located at 240 Portland Ave Minneapolis, MN.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: - Ideal for restaurant use with potential for **patio seating**.; - Generous landlord improvement allowance available.; - Located on the first floor of a new (2024) 20-story luxury apartment building.
    (612) 336-4310
    Request Owner's contact information
    240 Portland Ave Minneapolis, MN 55401
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    Minneapolis, MN 55401
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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
    240 Portland Ave Minneapolis, MN 55401
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