Historic Retail Building with CM2
For Sale
$1,700,000
808 Lowry Ave N, Minneapolis, MN 55411
Built in 1923, this historic retail building is zoned CM2 and offers versatile space for street retail concepts.
Property Size4,029 SF
Price / SF$421.94
Days on Market820
Property Features for 808 Lowry Ave N
General Information
Standard status
Active
Size
4,029 SF
Zoning
CM2
Site & Location
Neighborhood
Mckinley
Building Details
Year Built
1923
Listed By:
Brittney Knutson · License #SA701996000
(480) 712-0255
Source:
Expcommercial
Added: Jul 31, 2024
Changed: Oct 25
Last Checked: Oct 26 at 12:37PM
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 Brittney Knutson
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Investment Insights
Based on property information with market context.
This historic commercial building was constructed in 1923 and offers a retail-focused configuration for street retail use. The property’s layout is described as expansive, supporting retail displays and customer engagement, with character and architectural appeal that can be used to support retail branding.
The building is located at 808 Lowry Ave N in Minneapolis, MN 55411. It is zoned CM2, which aligns with retail and street retail business use under the provided information.
In addition to retail concepts, the property is described as having potential for multifamily use, subject to applicable requirements. The asset presents a single building opportunity with established historic character for buyers evaluating retail and street retail strategies, as well as potential mixed-use scenarios.
The building is located at 808 Lowry Ave N in Minneapolis, MN 55411. It is zoned CM2, which aligns with retail and street retail business use under the provided information.
In addition to retail concepts, the property is described as having potential for multifamily use, subject to applicable requirements. The asset presents a single building opportunity with established historic character for buyers evaluating retail and street retail strategies, as well as potential mixed-use scenarios.
Key Highlights
- 4,029 SF historic building built in 1923
- Zoned CM2 for retail and street retail businesses
- Versatile building layout with space suitable for retail and street retail concepts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,523
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,460
$970.5K
Cap Rate 7%
$693,186
$693.2K
Cap Rate 9%
$539,144
$539.1K
Market Conditions
NOI Build-Up for 4,029 SF
Gross rent
$74.9K $18.60/SF
− Vacancy
−$5.6K −$1.40/SF
EGI
$69.3K $17.21/SF
− OpEx
−$20.8K −$5.16/SF
NOI
$48.5K $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%
$970,460
Cap Rate 7%
$693,186
Cap Rate 9%
$539,144
Alternative Uses
Best Use
Retail
$693.2K
$606.5K – $808.7K
NOI $48,523 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$961.2K
$841.1K – $1.12M
NOI $67,286 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 12%
Electronics 6%
Burger King
Dining
10,143 visits/mo
0.5 miles
U-Haul
Shops & Services
1,495 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
731 visits/mo
0.2 miles
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Minneapolis, MN
Frequently Asked Questions
What type of property is this?
Retail space - Built in 1923, this historic retail building is zoned CM2 and offers versatile space for street retail concepts.
Where is this retail space located?
The property is located at 808 Lowry Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 4,029 SF historic building built in 1923; Zoned CM2 for retail and street retail businesses; Versatile building layout with space suitable for retail and street retail concepts
