Retail Space in Luxury
For Lease
Contact for pricing
240 Portland Ave, Minneapolis, MN
5,500 SF retail space ideal for restaurant use.
Space Size5,500 SF
Lot Size0.50 Acres
Days on Market322
Property Features for 240 Portland Ave
General Information
Standard status
Active
Size
5,500 SF
Lot size
0.50 Acres
Property subtype
RETAIL
Lease Type
NNN
Spaces For Lease
at 240 Portland Ave
Retail for Lease at 02 Luxury Tower
$27/SF/Yr
Floor
1
Size
5,500 SF
Type
RETAIL
Lease Type
NNN
Availability
AVAILABLE, Now
Sublease
No
+ 5,500rsf approx total vacant for lease on first floor facing Washington and Portland.
+ The suite is ideal for a restaurant use.
+ Divisible to 1,500sf approx.
+ Currently the suite is wide open space from the building construction completion in 2024.
+ This is first floor of a 20 story luxury apartment building.
+ $27.00 NNN per square foot per year base rent.
+ $10.00 per square foot per year tax/cam/ops.
+ Tenant responsible for its own in suite janitorial.
+ Utilities are tenant’s responsibility.
+ HVAC repairs replacement maintenance a tenant responsibility. The existing HVAC units are brand new.
+ Both suites have entrances on the sidewalk. There is some patio seating room.
+ Restrooms are to be built private to the suite.
+ Sprinklered suite.
+ Handicap accessible.
+ Large windows facing Washington and Portland.
+ Very high clear space.
+ Landlord willing to provide a generous improvement allowance.
Contact us
Listing Agency:
CBRE - Minnesota
(952) 924-4600
Listed By:
Gerald Driessen
(612) 336-4310
Source:
Moodyscre
Added: Nov 17, 2025
Changed: Sep 13
Last Checked: Oct 4 at 1:16PM
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 CBRE - Minnesota
Investment Insights
Based on property information with market context.
Approximately 5,500 square feet of vacant retail space is available for lease on the first floor of a 20-story luxury apartment building, facing Washington and Portland. The suite is ideally suited for a restaurant and is divisible to approximately 1,500 square feet. Currently, the suite is an open space, newly constructed in 2024. The space features entrances on the sidewalk and potential for patio seating. Restrooms are to be built private to the suite. The suite is sprinklered and handicap accessible, featuring large windows facing Washington and Portland, and very high ceilings. The landlord is willing to provide a generous improvement allowance. The base rent is $27.00 NNN per square foot per year, with an additional $10.00 per square foot per year for tax, CAM, and operating expenses. The tenant is responsible for in-suite janitorial services and utilities. The tenant is also responsible for HVAC repairs, replacement, and maintenance; the existing HVAC units are brand new.
Key Highlights
- Ideal for restaurant use with potential for patio seating.
- Generous landlord improvement allowance available.
- Located on the first floor of a new (2024) 20‑story luxury apartment building.
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
11,063
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 74%
Shops & Services 17%
Dining 9%
Renaissance Minneapolis Hotel, the Depot
Hotels & Casinos
15,872 visits/mo
0.2 miles
Moxy Hotels
Hotels & Casinos
9,936 visits/mo
0.3 miles
Residence Inn by Marriott Minneapolis Downtown at The Depot
Hotels & Casinos
7,558 visits/mo
0.2 miles
Wells Fargo
Shops & Services
7,070 visits/mo
0.4 miles
Best Western Plus The Normandy Inn & Suites
Hotels & Casinos
5,478 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Lease Benchmarks for Minneapolis, MN
$15.8 /SF/Yr
Avg Asking Price
$5.02–$24 /SF/Yr
Price Range
7,318 SF
Avg Space Size
This space is priced 71% above the average of $15.8 /SF/Yr.
Vacancy Rate% for Retail in Minneapolis, MN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 5,500 SF retail space ideal for restaurant use.
Where is this retail space located?
The property is located at 240 Portland Ave Minneapolis, MN.
What is the lease rate?
The lease rate is $27 SF/Yr.
What are key features of this property?
This property features: Ideal for restaurant use with potential for **patio seating**.; Generous landlord improvement allowance available.; Located on the first floor of a new (2024) 20‑story luxury apartment building.
