5500 BroadwayCrystal, MN 55428

Property Details for 5500 Broadway

Year built

1981

Lot size

0.75 AC

Property size (Sq ft)

6,650 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Crystal

County

Hennepin

State

Minnesota

Latitude

45.0526

Longitude

-93.3629

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