6319 Penn Ave Minneapolis, MN 55423
- Commercial real estate
- 0.12 lot acres
Current Use by Public Records
- Vale-Typewriter Inc / Office Supply Store / Typewriter Supplier
Property Details for 6319 Penn Ave
- Year built
- 1957
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.12 lot acres
- Property type
- Commercial real estate
- APN
- 28-028-24-22-0130
- APU
- 2802824220130
Description
This exceptional commercial property, located at 6319 Penn Avenue South in Richfield, Minnesota, presents a unique investment opportunity. Boasting a generous 1,600 square feet of space situated on a sizable 0.12-acre lot, this property offers significant potential for a variety of commercial uses. The building's versatile layout allows for customization to suit diverse business needs. Its strategic location on Penn Avenue South provides excellent visibility and accessibility, ensuring high traffic flow and convenient access for customers and employees. Richfield's thriving business community and strong infrastructure further enhance the property's appeal. The asking price of $500,000 represents a compelling value for a property of this size and location in a desirable market. This is an ideal opportunity for entrepreneurs and investors seeking a well-positioned commercial space with significant growth potential. The property's size and location make it suitable for a range of businesses, from retail establishments to professional offices. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed property information and specifications are available upon request. Don't miss this chance to acquire a prime commercial asset in a dynamic and growing area. Act quickly, as opportunities like this are rare.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $245,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $275,000
- 6.5%
- $315,000
- 7%
- $310,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $270,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $245,000
- Retail
- $245,000
- Mixed-Use
- $235,000
- Hospitality
- $290,000
- Educational
- $285,000
- Residential Income
- $310,000
- Energy
- $285,000
- Income-Based Land
- $315,000
- Food Service
- $285,000
Location Insight
- Map
- Local Demand
- City
- Richfield
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.3083
- Latitude
- 44.8883
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA