Renovated Mixed-Use Main Street
623 E Main Street Anoka, MN 55303
New
623 E Main Street, Anoka, MN, 55303
$650,000
For Sale
$650,000
Commercial Sale, Other - Anoka, MN
Property Size3,571 SF
Lot Size0.27 Acres
Price / SF$182.02
Days on Market2
Property Features for 623 E Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Business/Commercial
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 063124340118
- Lot size
- 0.27 Acres
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Flooring type
- Vinyl
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agency
Engel & Völkers Minneapolis
(612) 338-3836
Listed by
Jessica Siverson
Added: Jul 21 Updated: Jul 22 at 3:02AM Checked: Jul 22 at 7:06AM
MLS# 7108613
Copyright © 2026 Engel & Völkers. 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.
Completely renovated in 2022, this 1890-built mixed-use building offers a refreshed interior with new electrical, HVAC, plumbing, walls, and ceilings. A new roof and siding were added in 2024. The building includes a small commercial kitchen for food and beverage concepts and features dedicated parking along with a private patio. The property is zoned Business/Commercial, with EM-2 (Mixed Use Main Street) noted in the listing, and is offered for sale vacant at closing.
Located at 623 E Main Street in downtown Anoka, the property sits on a 0.27-acre lot on a walkable Main Street corridor. The listing describes strong visibility with steady foot and vehicle traffic of approximately 14,000 vehicles per day and an established downtown business district.
With a complete gut-and-renovation history and no deferred maintenance indicated, the building provides flexible space suited to a broad range of commercial uses consistent with the stated EM-2 (Mixed Use Main Street) zoning.
Located at 623 E Main Street in downtown Anoka, the property sits on a 0.27-acre lot on a walkable Main Street corridor. The listing describes strong visibility with steady foot and vehicle traffic of approximately 14,000 vehicles per day and an established downtown business district.
With a complete gut-and-renovation history and no deferred maintenance indicated, the building provides flexible space suited to a broad range of commercial uses consistent with the stated EM-2 (Mixed Use Main Street) zoning.
Key Highlights
- 3,571 SF mixed‑use building on a 0.27‑acre lot with dedicated parking lot and private patio
- Completely gutted and renovated in 2022, including new electrical, HVAC, plumbing, walls, and ceilings
- New roof and siding added in 2024
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.1k | $24.96 |
| − Vacancy | −$23.1k | −$6.46 |
| EGI | $66.0k | $18.50 |
| − OpEx | −$16.5k | −$4.62 |
| NOI | $49.5k | $13.87 |
3,571 SF · lease $24.96/SF/yr · vacancy 25.90% · expense 25.00%
Alternative Uses
Best Use
Retail
$867.9K
$759.4K – $1.01M
NOI $60,755 @ 7.0% cap · market cap 9.35%
Second Best
Office B
$707.6K
$619.2K – $825.6K
NOI $49,535 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$991.9K
$867.9K – $1.16M
NOI $69,434 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Hub LLC
Clothing & Fashion Store
Northwest Accounting & Tax
Tax Preparation
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use building with dedicated parking, private patio, and small commercial kitchen; delivered vacant at closing.
Where is this mixed-use property located?
The property is located at 623 E Main Street Anoka, MN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,571 SF mixed‑use building on a 0.27‑acre lot with dedicated parking lot and private patio; Completely gutted and renovated in 2022, including new electrical, HVAC, plumbing, walls, and ceilings; New roof and siding added in 2024
