Corner Auto
For Sale
$1,700,000
4215 E Lake Street, Minneapolis, MN 55406
Commercial Sale, Minneapolis, MN
Property Size10,464 SF
Lot Size0.40 Acres
Price / SF$162.46
Days on Market79
Property Features for 4215 E Lake Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial, Industrial
Parking features
Parking Lot, Covered, Assigned
Subdivision
Riverview Add
High school district
Minneapolis
Directions
Lake Street, west of the river to property on south side.
Standard status
Active
APN
0602823110025
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
36553
Amenities
dock & drive-in doors
open, high ceiling spaces
Building Details
Year built
1950
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Chad E Heer · License #40427410
(612) 963-5147
Added: Jul 28
Changed: Oct 8
Last Checked: Oct 14 at 2:06PM
MLS# 7117538
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 10,464-square-foot property is currently used for automotive retail and service. Its features include dock and drive-in doors, open areas with high ceilings, and parking. The building was constructed in 1950.
On a 0.40-acre corner lot along Lake Street in Minneapolis, the property is zoned CM2 – Corridor Mixed-use District. Potential uses noted for the site include residential redevelopment or reuse of the existing building.
On a 0.40-acre corner lot along Lake Street in Minneapolis, the property is zoned CM2 – Corridor Mixed-use District. Potential uses noted for the site include residential redevelopment or reuse of the existing building.
Key Highlights
- 10,464 SF building on a 0.40‑acre corner lot
- Current automotive retail and service use
- Dock and drive‑in doors
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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Current Use
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 zoning supports a range of uses, including residential redevelopment or continued use of the existing building.
Where is this auto shop located?
The property is located at 4215 E Lake Street 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 building on a 0.40‑acre corner lot; Current automotive retail and service use; Dock and drive‑in doors
