Renovated Mixed-Use Corner
For Sale
$445,000
4649 Bloomington Avenue, Minneapolis, MN 55407
CM1 zoning permits general retail and office uses, with dedicated off-street parking and prominent Bloomington Avenue signage.
Property Size2,422 SF
Lot Size0.12 Acres
Price / SF$183.73
Days on Market48
Property Features for 4649 Bloomington Avenue
General Information
Standard status
Active
Size
2,422 SF
Total Parking Spaces
10
Lot size
0.12 Acres
Property subtype
Commercial
Zoning
CM1-Neighborhood Mixed Use
Site & Location
Neighborhood
Nokomis
Corner Location
Yes
Highway Access
Yes
Amenities
new parking lot
additional exterior storage buildings
new pergola
artisan cedar front facade
building signage facing Bloomington Avenue
Building Details
Year Built
1922
Year Renovated
2020
Buildings
3
Building Size
2,422 SF
Listing Agency:
Exit Realty Refined
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 11
Changed: Oct 27
Last Checked: Oct 26 at 2:59PM
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 Exit Realty Refined
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property contains a 2,422 Sq. Ft. building on .12 Acres, originally constructed in 1922 and renovated in 2020. The CM1-Neighborhood Mixed Use zoning permits general retail and office uses. A flat rubber membrane roof was replaced in 2019, and both the central furnace and A/C were replaced that year. Exterior improvements include a new pergola, artisan cedar front facade, and a parking lot installed in 2025. Two additional storage buildings provide enclosed space measuring 6'W x 35'L and 11'W x 20'L.
The corner property has building signage facing Bloomington Avenue and access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue. It is minutes from the MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
The corner property has building signage facing Bloomington Avenue and access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue. It is minutes from the MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
Key Highlights
- 2,422 Sq. Ft. building on .12 Acres; built in 1922 and renovated in 2020
- CM1‑Neighborhood Mixed Use zoning permits general retail and office uses
- New parking lot installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,169
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,380
$583.4K
Cap Rate 7%
$416,700
$416.7K
Cap Rate 9%
$324,100
$324.1K
Market Conditions
NOI Build-Up for 2,422 SF
Gross rent
$45.0K $18.60/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$41.7K $17.21/SF
− OpEx
−$12.5K −$5.16/SF
NOI
$29.2K $12.04/SF
Area
Minneapolis, MN
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,380
Cap Rate 7%
$416,700
Cap Rate 9%
$324,100
Alternative Uses
Best Use
Retail
$416.7K
$364.6K – $486.2K
NOI $29,169 @ 7.0% cap · market cap 6.55%
Second Best
Mixed Use
$390.6K
$341.7K – $455.7K
NOI $27,339 @ 7.0% cap · market cap 6.14%
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.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
Speedway
Shops & Services
22,803 visits/mo
0.2 miles
Starbucks
Dining
12,560 visits/mo
0.2 miles
Caribou Coffee
Dining
11,867 visits/mo
0.3 miles
Domino's Pizza
Dining
3,768 visits/mo
0.2 miles
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
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - CM1 zoning permits general retail and office uses, with dedicated off-street parking and prominent Bloomington Avenue signage.
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 Sq. Ft. building on .12 Acres; built in 1922 and renovated in 2020; CM1‑Neighborhood Mixed Use zoning permits general retail and office uses; New parking lot installed in 2025
