2641 Girard Ave Minneapolis, MN 55408
- Commercial real estate
- 10,800 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2641 Girard Ave
- Year built
- 1910
- Property size
- 10,800 SF
- Property type
- Commercial real estate
Description
This exceptional 7-unit apartment building presents a compelling investment opportunity in Minneapolis, MN. Boasting a substantial 10,800 square feet, this three-story building, constructed in 1910 and extensively renovated in 2024, offers a blend of classic charm and modern updates. The property features seven spacious units, many boasting over 1,300 square feet with 3+ bedrooms, beautiful hardwood floors, three-season porches, and exposed brick. Each unit benefits from new, separately metered high-efficiency gas boilers for hot water baseboard heat, with tenants responsible for all utilities. Adding to its appeal, the property includes five off-street parking spaces, providing additional income potential. Currently operating at 100% occupancy, this stabilized investment boasts a strong net operating income (NOI) of $118,727 and an attractive cap rate of 8.19%. Situated on a 6,098 square foot lot in the desirable South Minneapolis area, zoned Urban Neighborhood 3, this property offers a rare combination of size, location, and strong financial performance. The asking price is $1,449,000, translating to $207,000 per unit and $134.17 per square foot. This is a turnkey investment ready for immediate income generation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.296982493997
- Latitude
- 44.954082438856
