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    5500 Broadway Crystal, MN 55428

    Sponsored
    For Sale
    $1,225,000

    6,650 SF Retail/Office, Vacant, Approved for 86 Apartments

    Property size:
    6,650 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This 6,650 square foot, single-story building in Crystal, Minnesota, presents a unique investment opportunity. Located on a high-traffic corner of West Broadway Avenue and 55th Avenue North, this former Goodyear Tire shop offers excellent visibility and easy highway access. Currently vacant, the property boasts a large retail storefront, two offices, a workshop with seven bays and overhead doors, ample storage space, and three bathrooms. The building sits on a 0.75-acre lot and includes sixteen parking spaces in the front, with additional rear parking. Plans for 86 apartment units have already received city approval, presenting a significant redevelopment potential. The property is zoned TC Town Center Core District and is situated within an Opportunity Zone, offering potential tax incentives. The building's features include a large retail storefront, two offices, a workshop with seven bays and overhead doors, and ample storage. Built in 1981, this Class C property is listed at $1,225,000 ($184.21/sq ft). This is an ideal opportunity for owner-users or developers seeking a prime location with significant upside potential. The property's location offers strong traffic counts and great visibility, making it an attractive option for a variety of uses. The approved apartment unit plan adds significant value and potential for future income. The ample parking and convenient access to major roadways further enhance its appeal.

    Property Features for 5500 Broadway

    General Information

    Property type
    Retail properties
    Square Feet
    6,650 SF
    Class
    C
    Lot Size
    32,670 SF

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • High‑traffic corner lot with excellent visibility.
    • 86‑unit apartment redevelopment project with city approvals.
    • Seven (7) bays with overhead doors.
    • 6,650 square foot building.
    • Retail space, two offices, three bathrooms, seven (7) bays, and storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Big O Tires Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3628911
    Latitude
    45.0525553

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    FAQs

    What type of property is this?
    Retail property - 6,650 SF Retail/Office, Vacant, Approved for 86 Apartments
    Where is this retail property located?
    The property is located at 5500 Broadway Crystal, MN.
    What is the asking price?
    The asking price for this property is $1,225,000.
    What are key features of this property?
    This property features: High-traffic corner lot with excellent visibility.; 86-unit apartment redevelopment project with city approvals.; Seven (7) bays with overhead doors.
    (239) 900-7995
    Request Owner's contact information
    5500 Broadway Crystal, MN 55428
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    Crystal, MN 55428
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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
    5500 Broadway Crystal, MN 55428
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