Two-Unit Storefront
New
For Sale
$540,000
2038 W Broadway Avenue, Minneapolis, MN 55411
Separate electrical and heating systems serve its commercial suites.
Property Size4,121 SF
Lot Size0.13 Acres
Price / SF$131.04
Days on Market6
Property Features for 2038 W Broadway Avenue
General Information
Standard status
Active
Size
4,121 SF
Total Parking Spaces
6
Lot size
0.13 Acres
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Neighborhood
Near North
Taxes and HOA fees
Annual Taxes
$7,622
Building Details
Building Size
4,121 SF
Year Built
1949
Buildings
1
Units
2
Listing Agency:
RE/MAX Results
Listed By:
Darisha M Hill · License #40662955
(612) 226-9958
Source:
Getyoumoved
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:24PM
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 RE/MAX Results
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Investment Insights
Based on property information with market context.
This freestanding storefront building contains approximately 4,121 finished square feet across two commercial units, with two bathrooms and six parking spaces on a 0.13-acre lot. Separate electricity and heating serve the units. Improvements completed since 2012 include electrical and plumbing work, along with a newer roof. The building was constructed in 1949 and is zoned Business/Commercial. The sale includes the building only.
The property fronts West Broadway Avenue in North Minneapolis, across from the Capri Theater. Its two-unit configuration and separate utility systems are part of the existing building setup.
The property fronts West Broadway Avenue in North Minneapolis, across from the Capri Theater. Its two-unit configuration and separate utility systems are part of the existing building setup.
Key Highlights
- Approximately 4,121 finished square feet in a freestanding commercial building
- Two commercial units with separate electricity and heating
- 0.13‑acre lot with six parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,631
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,620
$992.6K
Cap Rate 7%
$709,014
$709.0K
Cap Rate 9%
$551,456
$551.5K
Market Conditions
NOI Build-Up for 4,121 SF
Gross rent
$76.7K $18.60/SF
− Vacancy
−$5.7K −$1.40/SF
EGI
$70.9K $17.21/SF
− OpEx
−$21.3K −$5.16/SF
NOI
$49.6K $12.04/SF
Area
Minneapolis, MN
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,620
Cap Rate 7%
$709,014
Cap Rate 9%
$551,456
Alternative Uses
Best Use
Retail
$709.0K
$620.4K – $827.2K
NOI $49,631 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.2K
$860.3K – $1.15M
NOI $68,823 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Market
Vacancy Rate% for Retail in Minneapolis, MN
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Frequently Asked Questions
What type of property is this?
Storefront property - Separate electrical and heating systems serve its commercial suites.
Where is this storefront property located?
The property is located at 2038 W Broadway Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Approximately 4,121 finished square feet in a freestanding commercial building; Two commercial units with separate electricity and heating; 0.13‑acre lot with six parking spaces
