2221 15Th Ave Minneapolis, MN 55404

Property Details for 2221 15Th Ave

Year built

1911

Lot size

0.17 lot acres

Property size

6,206 SF

Property type

Commercial real estate

Description

This unique Minneapolis property presents a rare opportunity to acquire a nearly quarter-block mixed-use building at 2221 15th Avenue S. The 6,206 square foot building sits on a 0.17-acre lot and offers a compelling blend of commercial and residential income streams. Currently, the main floor houses two commercial units rented to a single, long-term tenant for $2400 per month, providing a stable and reliable income source. The tenant expresses a strong preference to remain. Upstairs, two residential apartments offer additional revenue potential. A one-bedroom apartment is rented month-to-month for $750 (below market value), while a unique, owner-occupied studio apartment boasts 12-foot ceilings and a shared rooftop deck. The substantial unfinished basement space presents significant expansion possibilities, allowing for the addition of finished square footage to the commercial area or the creation of another residential unit. A four-car garage, currently used by the owner, has generated supplemental income from neighboring tenants in the past. The closing date is flexible, offering buyers considerable convenience. This property is ideal for investors seeking a strong return on investment with the potential for significant future appreciation and income growth. The combination of established commercial tenancy, residential rental income, and substantial expansion potential makes this a truly exceptional opportunity in a desirable Minneapolis location.

Location Insight

City

Minneapolis

County

Hennepin

State

Minnesota

Longitude

-93.25333

Latitude

44.96022