Two-Unit Freestanding Commercial
For Sale
$540,000
2038 W Broadway Avenue, Minneapolis, MN 55411
Commercial Sale, Minneapolis, MN
Property Size4,121 SF
Lot Size0.13 Acres
Price / SF$131.04
Days on Market60
Property Features for 2038 W Broadway Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Driveway
Subdivision
Forest Heights
High school district
Minneapolis
Directions
Take I-94 West to West Broadway Avenue. The property is located on West Broadway Avenue between Oliver Avenue and Logan Avenue.
Standard status
Active
APN
1602924220174
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7622
Utilities
Heating system
Forced Air
Building Details
Year built
1949
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Darisha M Hill · License #40662955
(952) 829-2900
Added: Aug 11
Changed: Oct 8
Last Checked: Oct 9 at 5:06PM
MLS# 7125341
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding commercial building contains two commercial units and two bathrooms, with separate electricity and heating. The property offers approximately 4,121 finished square feet on a 0.13-acre lot, plus six parking spaces. Built in 1949, it has received roof, electrical, and plumbing improvements since 2012.
The building is on West Broadway Avenue in Minneapolis, across from the Capri Theater. The sale includes the building and real estate only.
The building is on West Broadway Avenue in Minneapolis, across from the Capri Theater. The sale includes the building and real estate only.
Key Highlights
- Two commercial units and two bathrooms
- Approximately 4,121 finished square feet on a 0.13‑acre lot
- 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
Office B
$735.7K
$643.7K – $858.3K
NOI $51,499 @ 7.0% cap · market cap 9.54%
Second Best
Retail
$709.0K
$620.4K – $827.2K
NOI $49,631 @ 7.0% cap · market cap 9.19%
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.
Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Separate electric and heating systems support independent operation of the two commercial units.
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: Two commercial units and two bathrooms; Approximately 4,121 finished square feet on a 0.13‑acre lot; Six parking spaces
