Storefront with CM2
3305 East Lake Street, Minneapolis, MN 55406
For Sale
New
Contact for pricing
The upper two floors were formerly configured as residential apartments.
Property Size5,231 SF
Price / SF$152.92
Days on Market7
Property Features for 3305 East Lake Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Tenant in Place
Listing Agency:
Gold Group Realty LLC
Listed By:
Aaron Goldstein · License MN #40605893
(612) 382-4774
Source:
Moodyscre
Added: Nov 8
Changed: Nov 12
Last Checked: Nov 12 at 2:27PM
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 Gold Group Realty LLC
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Investment Insights
Based on property information with market context.
This storefront property contains 5,231 square feet and is leased through February 28, 2027. CM2 zoning permits cannabis retail. The upper two floors were previously used as apartments, providing a residential component within the building.
The property is on East Lake Street in Minneapolis. Its long-running use as a florist business is noted, with operations there extending over several decades.
The property is on East Lake Street in Minneapolis. Its long-running use as a florist business is noted, with operations there extending over several decades.
Key Highlights
- 5,231‑square‑foot storefront property
- CM2 zoning permits cannabis retail
- Leased through 2/28/27
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,427
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,540
$1.3M
Cap Rate 7%
$920,386
$920.4K
Cap Rate 9%
$715,856
$715.9K
Market Conditions
NOI Build-Up for 5,231 SF
Gross rent
$99.2K $18.96/SF
− Vacancy
−$7.1K −$1.37/SF
EGI
$92.0K $17.59/SF
− OpEx
−$27.6K −$5.28/SF
NOI
$64.4K $12.32/SF
Area
ZIP 55406
Vacancy
7.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,540
Cap Rate 7%
$920,386
Cap Rate 9%
$715,856
Alternative Uses
Best Use
Retail
$920.4K
$805.3K – $1.07M
NOI $64,427 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,997 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 19%
Home Improvements & Furnishings 13%
McDonald's
Dining
26,269 visits/mo
0.2 miles
Frattallone's Ace Hardware
Home Improvements & Furnishings
4,906 visits/mo
0.4 miles
U.S. Bank
Shops & Services
4,571 visits/mo
0.2 miles
Car-X Auto Service
Shops & Services
1,131 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
953 visits/mo
0.1 miles
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
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 Storefront properties in Minneapolis
Vacancy Rate% for Retail in Minneapolis, MN
Similar Off Market Nearby
- Minnesota State Florist Association — 3305 e lake st, minneapolis, mn 55406
Frequently Asked Questions
What type of property is this?
Storefront property - The upper two floors were formerly configured as residential apartments.
Where is this storefront property located?
The property is located at 3305 East Lake Street Minneapolis, MN.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 5,231‑square‑foot storefront property; CM2 zoning permits cannabis retail; Leased through 2/28/27
