For Sale: Minneapolis MLS# 6705803
Active
$445,000
Commercial: Retail/Shopping Center
Built 1926
0.24 acres
Minneapolis schools
MLS# 6705803
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Property Description
Classic 1920s brick retail center in Victory neighborhood. Building has 5 units with a 14 space asphalt parking lot. Well-maintained building with newer forced-air furnaces in each unit and 4 of the 5 units have central air. Main floor units feature 9-10 ft ceiling height, separate front and back entrances, and some units have display windows. Property has a full basement with 8 ft ceiling height. Tenants pay their own heat/gas/electric. Four stable, long-term tenants occupy the 5 spaces. Buy as an investment opportunity or owner-occupy with your own business as space becomes available. Take advantage of the close proximity of Victory Memorial Drive and other thriving, local businesses and become a part of the growing Victory neighborhood business community.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$445,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1926
State:
MN
Property Style:
Retail/Shopping Center
Zip Code:
55412
Neighborhood/Area:
Victory
Subdivision Name:
Thorpe Bros William Penn Add
Interior
Ceiling Height:
8-10
Ranges:
None
Refrigerators:
None
Basement Details:
- Block
- Full
- Single Tenant Access
Exterior
Stories:
One
Garage Spaces:
0
Other Parking Spaces:
14
Air Conditioning:
Central Air
Foundation Size:
4,150 ft2
Foundation Dimensions:
83x50
Handicap Accessible:
Other
Heating System:
Forced Air
Parking Features:
- Asphalt
- Parking Lot
Shared Amenities:
Other
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
- Storm Sewer
- Street Lights
Exterior Material:
Brick/Stone
Roof Details:
- Flat
- Rubber
Lot & Land
Acres:
0.24
Geolocation:
45.025755, -93.313101
Inclusions:
Building, Land
Lot Dimensions:
83 x 126.4
Zoning:
Business/Commercial
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Insurance Expense:
$4,300
Annual Trash Expense:
$2,200
Annual Water/Sewer Expense:
$2,560
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$9,766
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$9,981
Income
Annual Gross Income:
$44,400
Units
Total Units:
5
Miscellaneous
Current Use:
- Beauty/Barber Shop
- Other
- Professional/Office
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of RE/MAX Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.