For Sale
$1,700,000

3542 Lake St Minneapolis, MN 55406

Minneapolis Value-Add Investment, 11 Units

Overview

Added:
Dec 11, 2024
Days on market:
137
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

Highlights

  • Value-add opportunity with strong upside potential.
  • Fully leased, generating immediate cash flow.
  • Significant billboard income stream.
  • Potential for additional revenue from parking.
  • Benefit from long-term, stable tenants.
  • Property is in excellent condition.

Property Details for 3542 Lake St

Property type
Retail properties, Mixed-use properties
Square Feet
20,381 SF
Class
C
Buildings
3
Stories
2
Units
11

Location Insight

City
Minneapolis
County
Hennepin
State
Minnesota
Latitude
44.9486751
Longitude
-93.2206326

FAQs

What type of property is this?
Retail property - Minneapolis Value-Add Investment, 11 Units
Where is the retail property located?
The property is located at 3542 Lake St Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Value-add opportunity with strong upside potential.; Fully leased, generating immediate cash flow.; Significant billboard income stream.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3542 Lake St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message