1113 Broadway Ave Minneapolis, MN 55411
- Commercial real estate
- 6,677 SF
- 0.15 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1113 Broadway Ave
- Year built
- 1909
- Construction
- CONCRETE
- Lot size
- 0.15 lot acres
- Property size
- 6,677 SF
- Zone code
- C1
- Property type
- Commercial real estate
- APN
- 16-029-24-13-0094
- APU
- 1602924130094
Description
This exceptional 9,157 square foot commercial property located at 1113 W Broadway Avenue in Minneapolis, Minnesota, presents a unique investment opportunity. Situated on a 0.15-acre lot, this building offers significant potential for redevelopment or adaptive reuse. The property has been vacant for over 20 years and requires renovation, but its substantial size and layout offer considerable flexibility. The main level features four sizable classrooms, ideally suited for conversion into various commercial spaces, along with two multi-stall bathrooms. Upstairs, seven existing office spaces provide a solid foundation for a variety of uses. A full kitchen and two additional bathrooms are also located on the upper level, adding to the property's versatility. Multiple storage areas are available throughout the building, providing ample space for inventory or equipment. Convenient off-street parking is located at the rear of the building, a valuable asset in a bustling urban environment. The asking price for this property is $325,000. This represents a compelling opportunity to acquire a large, well-located commercial building with significant upside potential in a thriving Minneapolis neighborhood. The property's history as a high school provides a unique character and a solid structural base for future development. Serious inquiries are encouraged.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $190,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $240,000
- 6.5%
- $205,000
- 7%
- $230,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $195,000
- Geo Method
- $215,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $255,000
- Retail
- $220,000
- Mixed-Use
- $210,000
- Hospitality
- $190,000
- Educational
- $240,000
- Residential Income
- $195,000
- Energy
- $205,000
- Income-Based Land
- $240,000
- Food Service
- $220,000
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.2948
- Latitude
- 44.9989
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA