Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1221 Lake St Minneapolis, MN 55408

    Sponsored
    For Lease
    Contact for pricing

    Prime Uptown location, ample parking.

    Lot size:
    36,817 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional Class A, two-story commercial property, Uptown Row, totaling 36,817 square feet, is situated in the vibrant Uptown Minneapolis submarket at 1221 W Lake St, Minneapolis, MN 55408. Built in 2004, the building boasts 14 suites across its 22,216 square foot lot, offering a diverse range of tenancy options. The property features 79 convenient on-site parking spaces, a rare amenity in this high-traffic area. Located on West Lake Street between Emerson and Freemont Avenues (cross street: Freemont Avenue), Uptown Row benefits from exceptional visibility and accessibility, situated on one of Uptown's busiest roadways. Zoned C-2, this versatile property is ideal for a variety of uses, including medical, traditional, and executive office spaces, as well as retail opportunities. The building's tenant mix includes a blend of national, regional, and local businesses, creating a thriving and diverse community. Current tenants include, but are not limited to, T-Mobile, Buffalo Wild Wings, Allina Health Care, Walgreens, Mahalo Nail Salon, Fox Den Salon, and Uptown Chiropractic. This property presents a unique investment opportunity in a highly desirable and sought-after location.

    Property Features for 1221 Lake St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,817 SF
    Class
    A

    Building Details

    Year Built
    2004
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 209
    Size
    4,410 SF
    Space
    Suite 103
    Size
    1,537 SF
    Space
    Suite 107-108
    Size
    2,564 SF
    Space
    Suites 111-112
    Size
    2,864 SF
    Space
    Suite 104
    Size
    1,693 SF

    HighLights

    • Class A, two‑story commercial building totaling 36,817 square feet in Uptown Minneapolis.
    • Located at 1221 W Lake St, Minneapolis, MN 55408, on a 22,216 square foot lot.
    • Built in 2004, featuring 14 suites and 79 on‑site parking spaces.
    • Exceptional visibility and accessibility on a busy Uptown roadway, zoned C‑2.
    • Diverse tenant mix including national, regional, and local businesses such as T‑Mobile, Buffalo Wild Wings, and Allina Health.
    Property Profile Location Intelligence

    Current Use by Public Records

    T-Mobile Cell Phone Store Allina Health Uptown ... Medical Clinic Uptown Chiropractic Chiropractor Hanan Rosenstein, MD Family Practice Physician Dr. Frank S. ... Infectious Disease Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.295431529902
    Latitude
    44.948339226502

    Nearby Similar for Lease

    • $17 SF/Yr
      6,744 SF

      Prime Downtown Minneapolis Retail Space

      Located in the heart of downtown with high pedestrian traffic.
      730 S 2Nd Ave, Minneapolis, MN 55402
      View Details
    • $17 SF/Yr
      4,374 SF

      Downtown Minneapolis Retail & Office

      Retail and office spaces in the heart of Minneapolis.
      706 S 2Nd Ave, Minneapolis, MN 55402
      View Details
    • $17 SF/Yr
      1,912 SF

      Downtown Minneapolis Retail & Services

      Retail and service spaces available in downtown Minneapolis.
      705 S Marquette Ave, Minneapolis, MN 55402
      View Details
    • $2,200,000
      1,370 SF

      Nicollet Avenue Retail/Office Building

      Modern retail/office building with high visibility and versatile space.
      2627-2639 Nicollet Ave, Minneapolis, MN 55408
      View Details
    • Contact for pricing
      739 SF

      Prime Retail Space Near Lightrail

      Highly visible retail space with excellent foot traffic and public transportation.
      3810 46Th St E, Minneapolis, MN 55419
      View Details
    • $10 SF/Yr
      59,865 SF

      Northrup King Building Space Available

      Office, industrial, and warehouse space for lease in Minneapolis.
      802 18Th Ave NE, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      22,806 SF

      New Hope Office Leasing Opportunity

      Office suites available in well-located New Hope building.
      7100 Medicine Lake Rd, Minneapolis, MN 55427
      View Details
    • Contact for pricing
      5,096 SF

      Luxury Mixed-Use Property Retail Spaces

      Retail spaces available in luxury mixed-use property, prime downtown location.
      510-550 S 4Th St, Minneapolis, MN 55401
      View Details
    • $14 SF/Yr
      75,526 SF

      Modern Office Space For Lease

      75,526 SF renovated office space with ample parking.
      7831 Glenroy Rd, Minneapolis, MN 55439
      View Details
    • Contact for pricing
      1,333 SF

      Mixed-Use Property Retail Spaces Available

      Retail spaces available in luxury mixed-use property with high visibility.
      600-640 S 4Th St, Minneapolis, MN 55415
      View Details
    • Contact for pricing
      1,345 SF

      Retail Space in New Development

      Retail space available in a new 25-story residential tower.
      700-740 S 4Th St, Minneapolis, MN 55415
      View Details
    • Contact for pricing
      2,030 SF

      Mixed-Use Property Retail Spaces Available

      Retail spaces available in luxury mixed-use property near light rail.
      511 S 4Th St, Minneapolis, MN 55413
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Uptown location, ample parking.
    Where is this restaurant located?
    The property is located at 1221 Lake St Minneapolis, MN.
    What are key features of this property?
    This property features: Class A, two-story commercial building totaling 36,817 square feet in Uptown Minneapolis.; Located at 1221 W Lake St, Minneapolis, MN 55408, on a 22,216 square foot lot.; Built in 2004, featuring 14 suites and 79 on-site parking spaces.
    Request Owner's contact information
    1221 Lake St Minneapolis, MN 55408
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1221 Lake St
    Minneapolis, MN 55408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    1221 Lake St Minneapolis, MN 55408
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.