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Lake Street Restaurant Opportunity

501 E Lake St, Minneapolis, MN

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For Sale

Contact for pricing

Two-level restaurant with full build-out on vibrant Lake Street.

Type:RETAIL

Property size:

5,182 SF

Lot size:

0.08 Acres

Price / SF:

$250/SF

HighLights

Fully built‑out restaurant with hoods, walk‑in cooler/freezer, and FF&E ready for immediate operation.
Prime location on vibrant Lake St., a hub of business, art, activity, and community.
Spacious 5,182 sq ft two‑level layout.
Large windows providing abundant natural light.
Two overhead garage doors creating a unique 'party vibe'.
Opportunity to serve a unique and diverse community.

We can help!

Listing Contact

Diane Signorelli

For Sale

Contact for pricing

Two-level restaurant with full build-out on vibrant Lake Street.

Type:RETAIL

Property size:

5,182 SF

Lot size:

0.08 Acres

Price / SF:

$250/SF

Added:: Nov 10, 2025
Days on Market:: 223
Last Refresh:: May 20 at 8:30 pm

Property Features for 501 E Lake St

General Information

Standard status: Active
Size: 5,182 SF
Lot size: 0.08 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Diane Signorelli

Listing agent Diane Signorelli

Listing office Commercial Equities Group, Inc

Listing date Nov 10, 2025

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 Commercial Equities Group, Inc

HighLights

Fully built‑out restaurant with hoods, walk‑in cooler/freezer, and FF&E ready for immediate operation.
Prime location on vibrant Lake St., a hub of business, art, activity, and community.
Spacious 5,182 sq ft two‑level layout.
Large windows providing abundant natural light.
Two overhead garage doors creating a unique 'party vibe'.
Opportunity to serve a unique and diverse community.

Overview

This two-level restaurant property is located on Lake Street, an area known for its business, art, activity, and community atmosphere. The building has 5,182 square feet of space. The restaurant is fully built out with hoods, a walk-in cooler/freezer, and FF&E. Large windows provide natural light, and two overhead garage doors contribute to the atmosphere. This property presents an opportunity for an owner to establish their business within the Lake Street community.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$96.4k	$18.60
− Vacancy	−$2.7k	−$0.52
EGI	$93.7k	$18.08
− OpEx	−$23.4k	−$4.52
NOI	$70.3k	$13.56

5,182 SF · lease $18.60/SF/yr · vacancy 2.80% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.00M

$878.3K – $1.17M (±1% cap)

NOI $70,265 @ 7.0% cap · market cap 5.41%

Second Best

Retail

$891.6K

$780.1K – $1.04M (±1% cap)

NOI $62,409 @ 7.0% cap · market cap 4.80%

Theoretical Best

Office A

$1.24M

$1.08M – $1.44M (±1% cap)

NOI $86,542 @ 7.0% cap · market cap 6.66%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Star Auto Sales Car Dealership El Guanaco Bakery ... Restaurant

Suggested Use

Similar Places Nearby

Thyme Entertain Inc. — 3501 10th ave s, minneapolis, mn 55407
La tortilla Catering — 2840 5th Ave S, Minneapolis, MN 55408
Hooyos kitchen — 2647 Bloomington Ave, Minneapolis, MN 55407
Northstar Meals On Wheels — 2722 Park Ave, Minneapolis, MN 55407
Hooyos Kitchen — 2900 13th Ave S, Minneapolis, MN 55407

Location Insight

Map
Local Demand

City: Minneapolis
County: Anoka
State: Minnesota
Longitude: -93.2688
Latitude: 44.9481

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What type of property is this?

Restaurant - Two-level restaurant with full build-out on vibrant Lake Street.

Where is this restaurant located?

The property is located at 501 E Lake St Minneapolis, MN.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Fully built‑out restaurant with hoods, walk‑in cooler/freezer, and FF&E ready for immediate operation.; Prime location on vibrant Lake St., a hub of business, art, activity, and community.; Spacious 5,182 sq ft two‑level layout.

501 E Lake St, Minneapolis, MN

Two-level restaurant with full build-out on vibrant Lake Street.

Property Features for 501 E Lake St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Retail and Office Building

Multi-Use Office Building Corner Lot

Warehouse District Business Condo

Warehouse District Business Condo

Iconic Waterfront Restaurant Opportunity

Mixed-Use Property Near Lake Bde

Flex Office Warehouse

Warehouse with Large Parking Lot

Versatile Minneapolis Specialty Building

Mixed-Use Investment Opportunity

Restaurant Property with Commercial Kitchen

Iconic Minneapolis Hospitality Property

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