3535 Lake St Minneapolis, MN 55406

Property Details for 3535 Lake St

Property size

20,381 SF

Property type

Retail properties

Property subtype

Land

Description

This exceptional commercial property, located at 3535 E Lake St in Minneapolis, Minnesota, presents a compelling value-add investment opportunity. The property encompasses a substantial 20,381 square feet of retail space, currently divided into 11 units and fully leased. Above the retail space are five apartments, adding to the property's income stream. The property boasts a strong history of consistent maintenance and care, having been owned by the same family for nearly 40 years, demonstrating its enduring appeal and stability. This well-established location offers significant potential for future growth and development. The property includes three separate parcel identification numbers (PIDs), providing flexibility and potential for future expansion or subdivision. A valuable asset is the inclusion of a rear parking lot, offering additional revenue generation possibilities through leasing or other income-producing strategies. The asking price for this exceptional property is $1,970,000. Situated in Hennepin County, with a zip code of 55406, this property is ideally positioned within the vibrant Minneapolis market. The property's location at 44.9481198 latitude and -93.2207778 longitude provides easy access to major transportation routes and a thriving commercial district. This is a rare chance to acquire a well-maintained, income-producing property with significant upside potential.