Cannabis-Approved Commercial
1828 Jefferson Street NE, Minneapolis, MN 55418
For Sale
$2,300,000
The Minneapolis property combines production-oriented infrastructure with finished retail space and existing tenant occupancy.
Property Size9,889 SF
Price / SF$232.58
Days on Market81
Property Features for 1828 Jefferson Street NE
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Meta Realty
(952) 243-0037
Listed By:
Brock E Dombrovski
(952) 451-7117
Source:
Hewittjacksonrealestate
Added: Aug 20
Changed: Nov 7
Last Checked: Nov 7 at 2:19PM
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 Meta Realty
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Investment Insights
Based on property information with market context.
At 1828 Jefferson Street NE, this commercial property has 600-amp, three-phase electrical service, three recently replaced rooftop HVAC units, and a 14-foot grade-level operations bay. Secure loading, freight-elevator infrastructure, and controlled-access security support its operational configuration. Approximately 1,900 SF of finished retail space is available, and existing tenants provide rental income.
The property is approximately two miles from Downtown Minneapolis. Its zoning is identified as PR1 Production Mixed Use in the property remarks, and the site is described as approved for cannabis. Any contemplated use remains subject to applicable approvals.
The property is approximately two miles from Downtown Minneapolis. Its zoning is identified as PR1 Production Mixed Use in the property remarks, and the site is described as approved for cannabis. Any contemplated use remains subject to applicable approvals.
Key Highlights
- 600‑amp, three‑phase electrical service
- 14‑foot grade‑level operations bay with secure loading
- Approximately 1,900 SF of finished retail space available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,626
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,232,520
$2.2M
Cap Rate 7%
$1,594,657
$1.6M
Cap Rate 9%
$1,240,289
$1.2M
Market Conditions
NOI Build-Up for 9,889 SF
Gross rent
$183.9K $18.60/SF
− Vacancy
−$5.3K −$0.54/SF
EGI
$178.6K $18.06/SF
− OpEx
−$67.0K −$6.77/SF
NOI
$111.6K $11.29/SF
Area
Minneapolis, MN
Vacancy
2.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,232,520
Cap Rate 7%
$1,594,657
Cap Rate 9%
$1,240,289
Alternative Uses
Best Use
Mixed Use
$1.59M
$1.40M – $1.86M
NOI $111,626 @ 7.0% cap · market cap 4.85%
Second Best
Industrial
$1.50M
$1.31M – $1.75M
NOI $105,010 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,152 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,990
Businesses Nearby
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Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Minneapolis, MN
Frequently Asked Questions
What type of property is this?
Cannabis property - The Minneapolis property combines production-oriented infrastructure with finished retail space and existing tenant occupancy.
Where is this cannabis property located?
The property is located at 1828 Jefferson Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 600‑amp, three‑phase electrical service; 14‑foot grade‑level operations bay with secure loading; Approximately 1,900 SF of finished retail space available
