Two-Address Retail Corner
3040 Lyndale Ave S Minneapolis, MN 55408
For Sale
Contact for pricing
Two-parcel, multi-level corner retail property with on-site parking and attached garage stalls, zoned CM3.
Property Size7,600 SF
Price / SF$151.32
Days on Market208
Property Features for 3040 Lyndale Ave S
General Information
Standard status
Active
Size
7,600 SF
Property subtype
RETAIL
Listing Agency:
Northstar Real Estate
(651) 398-7653
Listed By:
James Yacoub
(651) 398-7653
Source:
Moodyscre
Added: Jan 2
Changed: Jul 28
Last Checked: Jul 28 at 4:21PM
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 Northstar Real Estate
Investment Insights
Based on property information with market context.
3040 Lyndale Ave S and 3045 Aldrich Ave S present a rare two-address, two-parcel retail corner asset with a flexible, multi-level layout. The building includes on-site parking across both parcels and attached garage stalls, offering practical access for customers and tenants. The interior configuration features built-in separation that can support retail and back-of-house operations, with room to create a lower-level concept.
The property is located at Lyndale & 31st in the Lyn-Lake area and is designated CM3 zoning. Its corner positioning provides prominent street exposure for a range of neighborhood-oriented uses.
While the space is described as well-suited for a flagship dispensary concept, the layout is also presented as adaptable to multiple other high-demand uses, including salon and café-style concepts, office or creative headquarters, and wellness/medical or detox facility types. The two-address setup and parking provisions support leasing flexibility, including the potential to accommodate more than one tenant configuration, subject to approvals.
The property is located at Lyndale & 31st in the Lyn-Lake area and is designated CM3 zoning. Its corner positioning provides prominent street exposure for a range of neighborhood-oriented uses.
While the space is described as well-suited for a flagship dispensary concept, the layout is also presented as adaptable to multiple other high-demand uses, including salon and café-style concepts, office or creative headquarters, and wellness/medical or detox facility types. The two-address setup and parking provisions support leasing flexibility, including the potential to accommodate more than one tenant configuration, subject to approvals.
Key Highlights
- Two‑address, two‑parcel corner retail property: 3040 Lyndale Ave S and 3045 Aldrich Ave S
- CM3 zoning and located at Lyndale & 31st with corner street exposure
- Multi‑level flexible layout suited to retail and separate operations
Financial Insights For Healthcare Medical
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 | $182.4k | $24.00 |
| − Vacancy | −$18.2k | −$2.40 |
| EGI | $164.2k | $21.60 |
| − OpEx | −$65.7k | −$8.64 |
| NOI | $98.5k | $12.96 |
7,600 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.41M
$1.23M – $1.64M
NOI $98,496 @ 7.0% cap · market cap 8.56%
Second Best
Retail
$1.31M
$1.14M – $1.53M
NOI $91,531 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,924 @ 7.0% cap · market cap 11.04%
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 - Two-parcel, multi-level corner retail property with on-site parking and attached garage stalls, zoned CM3.
Where is this retail space located?
The property is located at 3040 Lyndale Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑address, two‑parcel corner retail property: 3040 Lyndale Ave S and 3045 Aldrich Ave S; CM3 zoning and located at Lyndale & 31st with corner street exposure; Multi‑level flexible layout suited to retail and separate operations
