2200 Hennepin Ave Minneapolis, MN 55405

Property Details for 2200 Hennepin Ave

Year built

1912

Lot size

0.25 lot acres

Property size

11,070 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional mixed-use property in Minneapolis' coveted Lowry Hill neighborhood presents a compelling investment opportunity. The 11,070 square foot building, constructed in 1912 and situated on a 0.25-acre lot at 2200 Hennepin Ave, boasts a 100% occupancy rate, generating a substantial Net Operating Income (NOI) of $153,319 and a 6.52% cap rate. The property features a diverse tenant mix, including eight multi-family apartment units, Specs Optical (a tenant for 26 years), and Tao Organic Cafe + Herbery (a tenant for over 50 years). Each apartment unit offers one bedroom, one bathroom, 9-foot ceilings, hardwood and tile floors, 6-foot windows, and claw-foot bathtubs. The building's prime location, just minutes from Downtown Minneapolis, benefits from high traffic counts (162,177 vehicles daily on nearby I-94) and proximity to numerous amenities, including the Walker Art Center and Sculpture Garden. Strong demographics further enhance the investment potential, with a 5-mile average household income of $120,720 and a 5-mile population of 503,894. This is a rare opportunity to acquire a fully leased, high-performing asset in a thriving Minneapolis neighborhood. The asking price is $2,350,000. This is a net lease investment.