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    Hennepin Avenue Flex/Industrial Space Title is generated by Realmo AI

    3517 Hennepin Avenue, Minneapolis, MN 55408

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    For Sale
    $700,000

    5,000 SF flex/industrial space with high visibility location.

    Type:Commercial/Industrial
    Property size:
    5,000 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $140/SF
    Added:
    Nov 15, 2024
    Days on Market:
    589
    Last Refresh:
    May 19 at 10:10 pm

    Property Features for 3517 Hennepin Avenue

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.12 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1932

    We can help!

    Contact an agent
    Aaron Goldstein
    Aaron Goldstein

    Listing office Gold Group Realty, LLC

    Listing date Nov 15, 2024

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of Gold Group Realty, LLC

    HighLights

    • High visibility location on Hennepin Avenue
    • Tremendous opportunity for an owner/occupant
    • Blank slate property, ready for your vision
    • Year Built: 1932

    Overview

    This 5,000 square foot flex/industrial space presents a significant opportunity for an owner/occupant. The property is situated in a location with high visibility on Hennepin Avenue. This property is a blank slate.

    Local Financial Insights For Industrial

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $78.6k $15.72
    − Vacancy −$2.8k −$0.55
    EGI $75.8k $15.17
    − OpEx −$22.8k −$4.55
    NOI $53.1k $10.62
    5,000 SF · lease $15.72/SF/yr · vacancy 3.50% · expense 30.00%

    Alternative Uses

    Best Use
    Industrial
    $758.5K
    $663.7K – $884.9K (±1% cap)
    NOI $53,094 @ 7.0% cap · market cap 7.58%
    Second Best
    Flex RnD
    $704.3K
    $616.3K – $821.7K (±1% cap)
    NOI $49,302 @ 7.0% cap · market cap 7.04%
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,503 @ 7.0% cap · market cap 11.93%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Similar Places Nearby

    • Sonny's Ice Cream Cafe — 3403 Lyndale Ave S, Minneapolis, MN 55408
    • Campion Rose Burns Catering — 1103 W Lake St, Minneapolis, MN 55408
    • Eat for Equity Catering — 2940 Harriet Ave, Minneapolis, MN 55408
    • Lakeside Sandwich/Slider — 3946 Lyndale Ave S, Minneapolis, MN 55409
    • Copious Hospitality — 3020 Hennepin Ave S, Minneapolis, MN 55408

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.298
    Latitude
    44.9389

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    FAQs

    What type of property is this?
    Flex space - 5,000 SF flex/industrial space with high visibility location.
    Where is this flex space located?
    The property is located at 3517 Hennepin Avenue Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: High visibility location on Hennepin Avenue; Tremendous opportunity for an owner/occupant; Blank slate property, ready for your vision
    (612) 382-4774
    We can help!
    Contact an agent
    Aaron Goldstein
    Aaron Goldstein
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