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    Hennepin Avenue Assemblage Opportunity Title is generated by Realmo AI

    3517-3525 Hennepin Ave, Minneapolis, MN

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    Two contiguous properties on Hennepin Avenue, mixed-use and office/retail.

    Type:RETAIL
    Property size:
    10,026 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $154/SF
    Added:
    Nov 15, 2024
    Days on Market:
    597
    Last Refresh:
    May 20 at 9:24 pm

    Property Features for 3517-3525 Hennepin Ave

    General Information

    Standard status
    Active
    Size
    10,026 SF
    Lot size
    0.12 Acres
    Property subtype
    RETAIL

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    Aaron Goldstein
    Aaron Goldstein

    Listing office Gold Group Realty LLC

    Listing date Nov 15, 2024

    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 Gold Group Realty LLC

    HighLights

    • Assemblage opportunity on Hennepin Avenue.
    • Two contiguous properties included.
    • 3509 & 3513 Hennepin Avenue: Fully occupied mixed‑use building with parking.
    • 3509 & 3513 Hennepin Avenue: Priced at $850,000.
    • 3517 Hennepin Avenue: 5k SF vacant office/retail opportunity.
    • 3517 Hennepin Avenue: Priced at $700,000.

    Overview

    This offering presents an assemblage opportunity on Hennepin Avenue, comprising two contiguous properties. The first property, located at 3509 & 3513 Hennepin Avenue, is a fully occupied mixed-use building with parking. The second property, situated at 3517 Hennepin Avenue, offers a 5,000 square foot vacant office/retail opportunity. The combined property size is 10,026 square feet.

    Local Financial Insights For Office B

    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 $209.3k $20.88
    − Vacancy −$42.3k −$4.22
    EGI $167.1k $16.66
    − OpEx −$41.8k −$4.17
    NOI $125.3k $12.50
    10,026 SF · lease $20.88/SF/yr · vacancy 20.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.79M
    $1.57M – $2.09M (±1% cap)
    NOI $125,292 @ 7.0% cap · market cap 8.08%
    Second Best
    Retail
    $1.72M
    $1.51M – $2.01M (±1% cap)
    NOI $120,748 @ 7.0% cap · market cap 7.79%
    Theoretical Best
    Office A
    $2.39M
    $2.09M – $2.79M (±1% cap)
    NOI $167,440 @ 7.0% cap · market cap 10.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Nursing Home (Bike/Boat/Book/etc) Store Nursing Home Bakery Home Appliance Store Wine and Liquor Store Restaurant Fish Market Dental Office Carpet & Flooring Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.298
    Latitude
    44.9389

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    FAQs

    What type of property is this?
    Mixed-use property - Two contiguous properties on Hennepin Avenue, mixed-use and office/retail.
    Where is this mixed-use property located?
    The property is located at 3517-3525 Hennepin Ave 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: Assemblage opportunity on Hennepin Avenue.; Two contiguous properties included.; 3509 & 3513 Hennepin Avenue: Fully occupied mixed‑use building with parking.
    (612) 382-4774 Call to check price and availability
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    Contact for Pricing
    Please call us for current price
    and status of this listing Aaron Goldstein
    Aaron Goldstein
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