Mixed-Use Building in
For Sale
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1934 Hennepin Ave, Minneapolis, MN 55403
26,587 SF mixed-use building on 0.34 acres for sale.
Property Size26,758 SF
Lot Size0.34 Acres
Price / SF$125.20
Days on Market964
Property Features for 1934 Hennepin Ave
General Information
Standard status
Active
Size
26,758 SF
Class
A
Total Parking Spaces
15
Lot size
0.34 Acres
Property subtype
Mixed Use, Office, Retail
Investment Type
Value Add
Building Details
Year Renovated
2013
Buildings
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Bloomington, Minnesota
Listed By:
William Melin · License #MN S56957000
(952) 465-3377
Source:
Crexi
Added: Feb 29, 2024
Changed: Oct 16
Last Checked: Oct 19 at 6:45AM
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 Cushman & Wakefield - Bloomington, Minnesota
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Investment Insights
Based on property information with market context.
The Burch Building, located at 1934 Hennepin Ave and 1925 Colfax Ave S in Minneapolis, Minnesota, is available for acquisition. This mixed-use property encompasses approximately 26,587 square feet and is situated on approximately 0.34 acres. The offering includes a nearby parking lot and billboard income.
Key Highlights
- Opportunity to acquire The Burch Building as a fee simple interest.
- Property size is approximately 26,587 SF.
- Located at 1934 Hennepin Ave and 1925 Colfax Ave S, Minneapolis, Minnesota.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$302,041
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,040,820
$6.0M
Cap Rate 7%
$4,314,871
$4.3M
Cap Rate 9%
$3,356,011
$3.4M
Market Conditions
NOI Build-Up for 26,758 SF
Gross rent
$497.7K $18.60/SF
− Vacancy
−$14.4K −$0.54/SF
EGI
$483.3K $18.06/SF
− OpEx
−$181.2K −$6.77/SF
NOI
$302.0K $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%
$6,040,820
Cap Rate 7%
$4,314,871
Cap Rate 9%
$3,356,011
Alternative Uses
Best Use
Mixed Use
$4.31M
$3.78M – $5.03M
NOI $302,041 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.38M
$5.59M – $7.45M
NOI $446,873 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 55403, MN
17,707
Population
12,906
Households
1.4
Avg Household Size
35
Median Age
59%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
12,648
Density / Sq Mi
$59,928
Median Household Income
$50,876
Median Earnings
$1,199
Median Rent
$285,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 26,587 SF mixed-use building on 0.34 acres for sale.
Where is this mixed-use property located?
The property is located at 1934 Hennepin Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Opportunity to acquire The Burch Building as a fee simple interest.; Property size is approximately 26,587 SF.; Located at 1934 Hennepin Ave and 1925 Colfax Ave S, Minneapolis, Minnesota.
