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    228 12Th St Minneapolis, MN 55403

    Sponsored
    For Sale
    $5,150,000

    Prime 1.21-acre retail site, vacant, 80 parking spaces.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 1.21-acre commercial property at 228 12th St. S in Minneapolis, MN (zip code 55403), offers a unique redevelopment opportunity. Currently vacant, the site is zoned B4S-2 District and boasts significant potential. The property includes a substantial parking lot with 80 spaces, generating income to offset holding costs. Its strategic location directly across 12th Street from the Minneapolis Convention Center provides unparalleled visibility and accessibility. The site benefits from convenient skyway access, placing it within easy walking distance of Loring Park and the Walker Art Center. Major transportation arteries, I-35W and I-94, are also readily accessible. The zoning allows for vertical development up to 50 stories, with potential for even greater height due to zoning premiums. The existing structure is a vacant church building, presenting a blank canvas for creative vision. The surrounding area is vibrant, featuring numerous hotels and luxury apartments, ensuring a strong potential customer base for any new development. The asking price for this remarkable property is $5,150,000. This is a rare chance to acquire a prime piece of Minneapolis real estate with exceptional upside potential.

    Property Features for 228 12Th St

    General Information

    Property type
    Land
    Lot Size
    52,708 SF

    HighLights

    • Across 12th Street from the Minneapolis Convention Center.
    • Skyway connected.
    • Walking distance to Loring Park and Walker Art Center.
    • Excellent access to I‑35W and I‑94.
    • 50‑story high‑rise potential.
    • Zoning allows for potential building height exceeding 50 stories.
    Property Profile Location Intelligence

    Current Use by Public Records

    Church Lot - Lot ... Parking Lot

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2723356
    Latitude
    44.9707035

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    FAQs

    What type of property is this?
    Land - Prime 1.21-acre retail site, vacant, 80 parking spaces.
    Where is this land located?
    The property is located at 228 12Th St Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $5,150,000.
    What are key features of this property?
    This property features: Across 12th Street from the Minneapolis Convention Center.; Skyway connected.; Walking distance to Loring Park and Walker Art Center.
    Request Owner's contact information
    228 12Th St Minneapolis, MN 55403
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    228 12Th St Minneapolis, MN 55403
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