Street-Level Retail Condo
2640-2650 Nicollet Ave Minneapolis, MN 55408
For Sale
Contact for pricing
Street-level retail condo offers a hood-ready kitchen setup, walk-in refrigerator/freezer, and glass pack bay doors.
Property Size7,745 SF
Price / SF$231.76
Days on Market374
Property Features for 2640-2650 Nicollet Ave
General Information
Standard status
Active
Size
7,745 SF
Property subtype
RETAIL
Listing Agency:
Grand Real Estate Advisors
(612) 875-3858
Listed By:
Edward (Ted) J LaFave
(612) 875-3858
Source:
Moodyscre
Added: Jul 21, 2025
Changed: Jul 29
Last Checked: Jul 29 at 5:54AM
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 Grand Real Estate Advisors
Investment Insights
Based on property information with market context.
This street-level retail condo unit is available on the main floor of the Good Dwelling apartment building, which totals 80 units. The space was built in 2019 and includes a hood-ready setup with a sleeve in place for venting, along with a walk-in refrigerator and freezer. Glass pack bay doors provide indoor/outdoor access options for compatible concepts.
The property is located along Nicollet Avenue in the area described as "Eat Street". It also includes a 20-stall surface parking lot, supporting day-to-day customer access.
The listing reflects a Corridor Mixed-Use (CM2) zoning designation and offers the unit as a retail condo within the apartment building, positioned as a street-level storefront for a food-oriented operation that needs venting and cold storage.
The property is located along Nicollet Avenue in the area described as "Eat Street". It also includes a 20-stall surface parking lot, supporting day-to-day customer access.
The listing reflects a Corridor Mixed-Use (CM2) zoning designation and offers the unit as a retail condo within the apartment building, positioned as a street-level storefront for a food-oriented operation that needs venting and cold storage.
Key Highlights
- Street‑level retail condo with hood‑ready kitchen setup, including sleeve in place for venting
- Walk‑in refrigerator and freezer included
- Glass pack bay doors for indoor/outdoor concepts on Nicollet Avenue
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $144.1k | $18.60 |
| − Vacancy | −$10.8k | −$1.40 |
| EGI | $133.3k | $17.21 |
| − OpEx | −$40.0k | −$5.16 |
| NOI | $93.3k | $12.04 |
7,745 SF · lease $18.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.55M
NOI $93,277 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,346 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Street-level retail condo offers a hood-ready kitchen setup, walk-in refrigerator/freezer, and glass pack bay doors.
Where is this retail space located?
The property is located at 2640-2650 Nicollet Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Street‑level retail condo with hood‑ready kitchen setup, including sleeve in place for venting; Walk‑in refrigerator and freezer included; Glass pack bay doors for indoor/outdoor concepts on Nicollet Avenue
