For Sale
$1,195,000

212 Ridgewood AveMinneapolis, MN 55403

9-Unit Minneapolis Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • Another $75,000 price reduction!
  • 9-unit mixed-use building: 3 apartments & 6 offices.
  • Excellent interior and exterior condition.
  • Prime Minneapolis location in the Loring Park/Lowry Hill area.
  • 4 rear tuck-under garage stalls.

Property Details for 212 Ridgewood Ave

Property type
Office properties, Mixed-use properties
Square Feet
7,550 SF
Class
B
Year Built/Renovated
1932/2020
Buildings
1
Stories
3
Lot Size (sq. ft)
10,019 SF
Units
9

Location Insight

City
Minneapolis
County
Hennepin
State
Minnesota
Latitude
44.9640451
Longitude
-93.2815344
212 Ridgewood Ave, Minneapolis, Minnesota

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212 Ridgewood Ave
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