7831 Glenroy Rd Minneapolis, MN 55439

Paramount Plaza, a four-story, 75,526 square-foot office building in Minneapolis, Minnesota, presents a compelling value-add investment opportunity. Located at 7831 Glenroy Rd, Minneapolis, MN 55439, this multi-tenant property sits on a 3.53-acre lot and boasts exceptional visibility from I-494, a major thoroughfare with over 160,000 vehicles daily. The building, constructed in 1982, features a desirable CO-1 commercial office zoning and offers 313 parking spaces, including 93 temperature-controlled spaces. Currently operating at 69% occupancy, this property offers significant upside potential. The asking price is $5,300,000, translating to $70.17 per square foot. The building's prime location provides ease of connectivity and proximity to numerous amenities. Further enhancing its value, Paramount Plaza benefits from stable income generated by a cellular antenna and presents an opportunity for significant capital investment. The building's size and layout offer an ideal floor plate and footprint for potential renovations or expansion. This owner/user opportunity provides tax and financing advantages, making it a cost-effective alternative to leasing. The below-replacement cost further strengthens its investment appeal. I-494 signage provides excellent branding opportunities.