Mixed-Use Building with
For Sale
$445,000
4649 Bloomington Avenue, Minneapolis, MN 55407
Commercial Sale, Minneapolis, MN
Property Size2,422 SF
Lot Size0.12 Acres
Price / SF$183.73
Days on Market50
Property Features for 4649 Bloomington Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Rooms
Basement
Parking features
Parking Lot
Window features
Aluminum Frames
Appliances
Water Heater - Gas
Subdivision
Harriet Minnehaha Pkwy Add
Lot features
Corner Lot
High school district
Minneapolis
Directions
1 mile east of I-35W, and 1.5 miles north of Hwy. 62. Located at the intersection of Bloomington Avenue and East 47th St.
Standard status
Active
APN
1402824110017
Lot size
0.12 Acres
Additional Details
Corner Location
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10148
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
new parking lot
additional exterior storage buildings
new pergola
artisan cedar front facade
building signage facing Bloomington Avenue
Building Details
Year built
1922
Building materials
Timber/Post & Beam
Roof type
Rubber, Flat
Buildings
3
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka · Keller Williams Realty
Listed By:
Royce Durhman
(952) 475-0111
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 28 at 6:06AM
MLS# 7141629
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.
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Investment Insights
Based on property information with market context.
The 2,422-square-foot building dates to 1922 and was renovated in 2020. Improvements include a pergola and cedar front facade added in 2020, along with a flat rubber membrane roof and central heating and cooling equipment replaced in 2019. Two detached storage buildings measure 6 feet by 35 feet and 11 feet by 20 feet.
The property occupies a 0.12-acre corner lot. A parking lot was installed in 2025, and building signage faces Bloomington Avenue. CM1 zoning permits general retail and office uses. Access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue is noted, with the property described as minutes from MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
The property occupies a 0.12-acre corner lot. A parking lot was installed in 2025, and building signage faces Bloomington Avenue. CM1 zoning permits general retail and office uses. Access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue is noted, with the property described as minutes from MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
Key Highlights
- 2,422 square feet on a 0.12‑acre corner lot
- CM1 zoning permits general retail and office
- Two exterior storage buildings: 6'W x 35'L and 11'W x 20'L
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,339
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,780
$546.8K
Cap Rate 7%
$390,557
$390.6K
Cap Rate 9%
$303,767
$303.8K
Market Conditions
NOI Build-Up for 2,422 SF
Gross rent
$45.0K $18.60/SF
− Vacancy
−$1.3K −$0.54/SF
EGI
$43.7K $18.06/SF
− OpEx
−$16.4K −$6.77/SF
NOI
$27.3K $11.29/SF
Area
Minneapolis, MN
Vacancy
2.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,780
Cap Rate 7%
$390,557
Cap Rate 9%
$303,767
Alternative Uses
Best Use
Mixed Use
$390.6K
$341.7K – $455.7K
NOI $27,339 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CM1 zoning permits general retail and office uses in this Minneapolis property.
Where is this mixed-use property located?
The property is located at 4649 Bloomington Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,422 square feet on a 0.12‑acre corner lot; CM1 zoning permits general retail and office; Two exterior storage buildings: 6'W x 35'L and 11'W x 20'L
