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Mixed-Use Property Near Lake Bde Maka Ska

3101 Irving Ave S Minneapolis, MN 55408

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Mixed-use property with office, apartment, and ample parking.

Type:OFFICE
Property size:
4,033 SF
Price / SF:
$172/SF
Added:
May 15, 2026
Days on Market:
58
Last Refresh:
Jun 29 at 9:29 pm

Property Features for 3101 Irving Ave S

General Information

Standard status
Active
Size
4,033 SF
Property subtype
OFFICE

Listing office KW Commercial Minneapolis

Listing date May 15, 2026

Source Moodyscre

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 KW Commercial Minneapolis


Investment Insights

Based on property information with market context.

This mixed-use property features a main level with 1,365 square feet of office space, including four offices, a reception area, a kitchenette, and a bathroom. An additional 1,400 square feet of dry basement storage is available. The upper level contains a 1,300-square-foot, two-bedroom apartment with an approximately 600-square-foot deck offering views. The property benefits from visibility on Irving Avenue and 31st Street, enhanced by corner-facing signage. A heated garage accommodates two large utility vans, and the lot provides parking for up to eight vehicles. The garage is currently rented out. Situated on a bus line and located two blocks from Lake Bde Maka Ska, this property is suitable for small businesses such as attorney, therapy, accountant, mortgage, insurance, construction, or cleaning companies. Businesses can leverage income from the apartment or utilize the space for live/work purposes. The total property size is 4,033 square feet.

Key Highlights

  • Prime location: Two blocks from Lake Bde Maka Ska.
  • Enjoy the upper‑level two‑bedroom apartment (1,300 sq ft) with a 600 sq ft deck and views.
  • High visibility corner location with signage on Irving and 31st Street.

Local Financial Insights For Apartment 5plus

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 $105.0k $26.04
− Vacancy −$6.6k −$1.64
EGI $98.4k $24.40
− OpEx −$44.3k −$10.98
NOI $54.1k $13.42
4,033 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$773.2K
$676.5K – $902.0K (±1% cap)
NOI $54,122 @ 7.0% cap · market cap 7.79%
Second Best
Office B
$720.0K
$630.0K – $840.0K (±1% cap)
NOI $50,399 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$962.2K
$841.9K – $1.12M (±1% cap)
NOI $67,353 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Essential Care Centers Community Health Centre

Suggested Use

Pet Grooming Service Butcher Garden Center Locksmith HVAC Service Tanning Salon Electrical Service (Bike/Boat/Book/etc) Store Fish Market Home Appliance Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with office, apartment, and ample parking.
Where is this mixed-use property located?
The property is located at 3101 Irving Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Prime location: Two blocks from Lake Bde Maka Ska.; Enjoy the upper‑level two‑bedroom apartment (1,300 sq ft) with a 600 sq ft deck and views.; High visibility corner location with signage on Irving and 31st Street.
Contact an agent
(612) 821-7400 Call to check price and availability
More about this property
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