3553 Hennepin Ave Minneapolis, MN
Call to check price and availability
Fully leased retail property with future development potential near Bde Mka Ska.
Type:RETAIL
Property size:
1,347 SFLot size:
0.24 AcresPrice / SF:
$549/SF- Added:
- Jul 29, 2024
- Days on Market:
- 635
- Last Refresh:
- Apr 5 at 8:39 pm
Property Features for 3553 Hennepin Ave
General Information
- Standard status
- Active
- Size
- 1,347 SF
- Lot size
- 0.24 Acres
- Property subtype
- RETAIL
Listing agent Jim Kenney (612) 749-4233
Listing office Suntide Commercial Realty, Inc. (612) 749-4233
Listing date Jul 29, 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 Suntide Commercial Realty, Inc.
Overview
Leased Retail Space Near Bde Mka Ska
This 1,347-square-foot retail property is 100% leased through July 31, 2029, with the tenant having a 5-year option to renew. The annual average net operating income is $49,019, with an additional 5% management fee, totaling $51,467. The tenant is responsible for virtually all expenses, and the lease is available for review. Situated on an approximately 10,350-square-foot corner urban infill site, the property includes approximately 11 parking spaces. Real estate taxes are $21,886.16, which the tenant pays. The assessed value is $709,000. A new roof was installed in the spring of 2024. Located on the #6 Bus Line, the property offers close proximity and direct access to Bde Mka Ska. There is potential for assemblage of neighboring properties for larger-scale development, and renderings for such development are available upon request. Future multi-family development is possible, potentially accommodating approximately 29 units, 1,500 square feet of commercial space, and 18 parking stalls, or more; buyers should verify these possibilities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Uptown Vision
Doctor
Dr. Mark Sabre
Physician
Tamara Legg
Physician
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2981
- Latitude
- 44.938
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FAQs
What type of property is this?
Retail space - Fully leased retail property with future development potential near Bde Mka Ska.
Where is this retail space located?
The property is located at 3553 Hennepin Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 100% Leased through July 31, 2029, providing stable income.; Annual Average NOI of $49,019 +5% mgmt fee = $51,467.; Future Multi‑Family Development potential (approximately 29 units, 1,500 sf commercial, 18 parking stalls).
