Restaurant and Entertainment
2524 Nicollet Ave S, Minneapolis, MN 55404
For Sale
New
Contact for pricing
Two upper-level tenant spaces add rental income to a property with a restaurant, bar, and event area.
Property Size7,560 SF
Price / SF$205.03
Days on Market7
Property Features for 2524 Nicollet Ave S
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Patio
Tenant in Place
Building Details
Buildings
Stories
Listing Agency:
Wyn Group
(763) 888-8111
Listed By:
Jay Mawas · License #40684904
(612) 772-3566
Source:
Moodyscre
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 6 at 11:17AM
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 Wyn Group
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Investment Insights
Based on property information with market context.
This two-story mixed-use property has a restaurant and entertainment operation on the main floor, with two tenant spaces above. The restaurant layout includes a full bar, commercial kitchen, dining areas, and a dance hall. An outdoor patio provides additional space for guests and events. The building contains 7,560 square feet.
Located on Nicollet Avenue in Minneapolis, the property includes customer parking in an adjacent lot.
Located on Nicollet Avenue in Minneapolis, the property includes customer parking in an adjacent lot.
Key Highlights
- 7,560‑square‑foot, two‑story mixed‑use property
- Main floor includes a restaurant layout, full bar, commercial kitchen, and dining areas
- Dance hall and entertainment area, plus an outdoor patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,509
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,050,180
$2.1M
Cap Rate 7%
$1,464,414
$1.5M
Cap Rate 9%
$1,138,989
$1.1M
Market Conditions
NOI Build-Up for 7,560 SF
Gross rent
$140.6K $18.60/SF
− Vacancy
−$3.9K −$0.52/SF
EGI
$136.7K $18.08/SF
− OpEx
−$34.2K −$4.52/SF
NOI
$102.5K $13.56/SF
Area
Minneapolis, MN
Vacancy
2.80%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,050,180
Cap Rate 7%
$1,464,414
Cap Rate 9%
$1,138,989
Alternative Uses
Best Use
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,509 @ 7.0% cap · market cap 6.61%
Second Best
Mixed Use
$1.22M
$1.07M – $1.42M
NOI $85,336 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,256 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,271
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Groceries 41%
Aldi
Groceries
21,610 visits/mo
0.4 miles
McDonald's
Dining
19,069 visits/mo
0.2 miles
Pho Hoa Noodle Soup
Dining
8,029 visits/mo
0.1 miles
Bambu Desserts & Drinks
Dining
2,535 visits/mo
0.3 miles
Slice
Dining
1,408 visits/mo
0.2 miles
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Minneapolis
Vacancy Rate% for Retail in Minneapolis, MN
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-level tenant spaces add rental income to a property with a restaurant, bar, and event area.
Where is this mixed-use property located?
The property is located at 2524 Nicollet Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 7,560‑square‑foot, two‑story mixed‑use property; Main floor includes a restaurant layout, full bar, commercial kitchen, and dining areas; Dance hall and entertainment area, plus an outdoor patio
