3542 E Lake St Minneapolis, MN 55408

Property Details for 3542 E Lake St

Year built

1915

Construction

WOOD

Lot size

0.18 lot acres

Property size

3,472 SF

Zone code

C1

Property type

Commercial real estate

APN

31-029-23-34-0152

APU

3102923340152

Description

This exceptional mixed-use investment opportunity in Minneapolis, Minnesota, presents a portfolio of three buildings totaling 20,381 square feet on a prime Lake Street location. The property, situated in the thriving Longfellow neighborhood, boasts a compelling value-add proposition with significant upside potential. Currently operating at 100% occupancy, the portfolio comprises six commercial and five residential units, generating consistent income streams. The buildings are well-maintained and benefit from long-term tenants, ensuring stable cash flow. Further revenue streams are possible through existing billboard advertising and potential parking lot development. The property is zoned Commercial-Mixed Use, offering flexibility for future expansion or repositioning. The asking price is $1,700,000, translating to $83.41 per square foot. This two-story, Class C property represents a rare chance to acquire a fully leased, income-producing asset in a rapidly appreciating area. The portfolio has been under the same ownership for 40 years, demonstrating its enduring appeal and stability. Serious inquiries only