Renovated Mixed-Use Building with Private
623 E Main Street Anoka, MN 55303
For Sale
$650,000
EM-2 zoned mixed-use building with dedicated parking, private patio, and a small commercial kitchen.
Property Size3,571 SF
Lot Size0.27 Acres
Price / SF$182.02
Days on Market9
Property Features for 623 E Main Street
General Information
Standard status
Active
Size
3,571 SF
Lot size
0.27 Acres
Property subtype
Commercial
Building Details
Year Built
1890
Listing Agency:
Engel & Volkers Minneapolis
(651) 270-2780
Listed By:
Jessica Siverson
(651) 270-2780
Source:
Juverealestate
Added: Jul 21
Changed: Jul 29
Last Checked: Jul 29 at 5:49PM
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 Engel & Volkers Minneapolis
Investment Insights
Based on property information with market context.
This renovated mixed-use building offers a flexible layout for a range of concepts. The building contains 3,571 SF on a .27-acre lot and includes a dedicated parking lot and private patio. Built in 1890, it was completely gutted and renovated in 2022, with new electrical, HVAC, plumbing, walls, and ceilings. A new roof and siding were added in 2024. A small commercial kitchen is also included, supporting food and beverage uses.
Set on a walkable Main Street corridor at 623 E Main Street in Anoka, the property benefits from strong visibility and steady foot and vehicle traffic, with 14k daily traffic reported. The commercial kitchen and EM-2 (Mixed Use Main Street) zoning support a broad mix of uses including restaurant, coffee shop or wine bar, professional or medical office, wellness studio, salon, and boutique retail.
The property will be delivered vacant at closing, providing an opportunity to bring your own concept to life.
Set on a walkable Main Street corridor at 623 E Main Street in Anoka, the property benefits from strong visibility and steady foot and vehicle traffic, with 14k daily traffic reported. The commercial kitchen and EM-2 (Mixed Use Main Street) zoning support a broad mix of uses including restaurant, coffee shop or wine bar, professional or medical office, wellness studio, salon, and boutique retail.
The property will be delivered vacant at closing, providing an opportunity to bring your own concept to life.
Key Highlights
- 3,571 SF mixed‑use building on a .27‑acre lot
- Dedicated parking lot plus private patio
- Renovated in 2022 with new electrical, HVAC, plumbing, walls, and ceilings
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
Office B
$707.6K
$619.2K – $825.6K
NOI $49,535 @ 7.0% cap · market cap 7.62%
Second Best
Mixed Use
$704.0K
$616.0K – $821.3K
NOI $49,280 @ 7.0% cap · market cap 7.58%
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 authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - EM-2 zoned mixed-use building with dedicated parking, private patio, and a small commercial kitchen.
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 .27‑acre lot; Dedicated parking lot plus private patio; Renovated in 2022 with new electrical, HVAC, plumbing, walls, and ceilings
