Auto Shop with Dock and Drive-In
For Sale
$1,700,000
4215 E Lake St, Minneapolis, MN 55406
CM2-zoned commercial property with open, high-ceiling areas and flexible redevelopment or reuse potential.
Property Size10,464 SF
Lot Size0.40 Acres
Price / SF$162.46
Days on Market60
Property Features for 4215 E Lake St
General Information
Standard status
Active
Size
10,464 SF
Lot size
0.40 Acres
Zoning
CM2
Site & Location
Corner Location
Yes
Road Access
Yes
Amenities
dock & drive-in doors
open, high ceiling spaces
Building Details
Year Built
1950
Buildings
1
Tenancy
Single
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Chad E Heer · License #40427410
(612) 963-5147
Source:
Bethanynelsongroup
Added: Aug 16
Changed: Oct 12
Last Checked: Oct 7 at 3:40PM
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 Keller Williams Realty Integrity Lakes
Investment Insights
Based on property information with market context.
This 10,464-square-foot commercial property includes an existing automotive retail and service building constructed in 1950. The facility offers dock access, drive-in doors, and open areas with high ceilings. Its current use is associated with Honda Town, providing an established automotive-oriented configuration for continued use or repositioning.
The property occupies a 0.40-acre corner parcel along Lake Street in Minneapolis, within the Longfellow neighborhood and across the river from St. Paul. CM2 Corridor Mixed-use District zoning supports a range of potential directions, including residential redevelopment or reuse of the existing building.
The property occupies a 0.40-acre corner parcel along Lake Street in Minneapolis, within the Longfellow neighborhood and across the river from St. Paul. CM2 Corridor Mixed-use District zoning supports a range of potential directions, including residential redevelopment or reuse of the existing building.
Key Highlights
- 10,464 SF existing commercial building constructed in 1950
- 0.40‑acre corner parcel along Lake Street in Minneapolis
- CM2 - Corridor Mixed‑use District zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,887
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,677,740
$2.7M
Cap Rate 7%
$1,912,671
$1.9M
Cap Rate 9%
$1,487,633
$1.5M
Market Conditions
NOI Build-Up for 10,464 SF
Gross rent
$199.7K $19.08/SF
− Vacancy
−$8.4K −$0.80/SF
EGI
$191.3K $18.28/SF
− OpEx
−$57.4K −$5.48/SF
NOI
$133.9K $12.80/SF
Area
ZIP 55406
Vacancy
4.20%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,677,740
Cap Rate 7%
$1,912,671
Cap Rate 9%
$1,487,633
Alternative Uses
Best Use
Industrial
$1.91M
$1.67M – $2.23M
NOI $133,887 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$1.84M
$1.61M – $2.15M
NOI $128,879 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,034 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Home Improvements & Furnishings 21%
Speedway
Shops & Services
13,907 visits/mo
0.1 miles
Frattallone's Ace Hardware
Home Improvements & Furnishings
4,906 visits/mo
0.1 miles
U.S. Bank
Shops & Services
4,571 visits/mo
0.3 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
Vacancy Rate% for Retail in Minneapolis, MN
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Similar Off Market Nearby
- Sandberg Imports — 3511 Minnehaha Ave, Minneapolis, MN 55406
- Pop's Repair & Restorations — 3236 33rd Ave S, Minneapolis, MN 55406
- Baraka Auto Center-II — 3028 E Lake St, Minneapolis, MN 55406
- Car-X Tire & Auto — 3021 E Lake St, Minneapolis, MN 55406
- Mecánica de cajas — 3403 E Lake St, Minneapolis, MN 55406
Frequently Asked Questions
What type of property is this?
Auto shop - CM2-zoned commercial property with open, high-ceiling areas and flexible redevelopment or reuse potential.
Where is this auto shop located?
The property is located at 4215 E Lake St Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 10,464 SF existing commercial building constructed in 1950; 0.40‑acre corner parcel along Lake Street in Minneapolis; CM2 - Corridor Mixed‑use District zoning
