212 Ridgewood Ave Minneapolis, MN 55403

This exceptional mixed-use property at 212 Ridgewood Ave, Minneapolis, MN 55403, presents a compelling value-add investment opportunity. The 7,550 square foot building, constructed in 1932 and extensively renovated in 2020, boasts nine units: three apartments (one 3-bed/2-bath, one 2-bed/1-bath, and one 1-bed/1-bath) totaling approximately 6,050 square feet, and six office spaces (approximately 1,500 square feet) currently vacant. The property features four tuck-under garage stalls. The first-floor apartment has previously been used as an Airbnb. Located in the highly desirable Loring Park/Lowry Hill area, this Class B building sits on a 0.23-acre double lot, zoned UN2 Urban Neighborhood. The asking price is $1,195,000, translating to $158.28 per square foot of net rentable area (7,400 sq ft). The property offers significant upside potential, with the possibility of converting the office spaces into additional residential units. The building's strong rental history and excellent condition make it an attractive investment for both owner-users and investors. Occupancy is available May 15, 2024. This is a rare opportunity to acquire a well-maintained, mixed-use property in a prime Minneapolis location.