Home Call Us About Login
Map Search Area Search MLS#/Addr Featured New Const. Local Info
My Account Buying Selling Title Mortgage Inspections

For Sale:  Minneapolis MLS# 6732823

My notes for this property


Add listing to my favorites (required)
Active NEW!
$450,000
/mo Edit
Commercial:  1 Story
Built 1923
0.12 acres
Minneapolis schools
MLS# 6732823
763-576-8286
My rating:
Favorite
Ask Question
Request a Showing  
Agent
Ask the Agent℠

Ask the Agent℠

    Property inquiries submitted online are continually monitored to provide the best possible service.

    Terms & Conditions






    Thank You!

    An agent will be in contact with you soon to answer your question.

    Property Description

    PROPERTY HIGHLIGHTS - Property has a boiler system for heat; the front portion of building has central rooftop unit for A/C, and other portions have window A/C units 2008 roof - 3-year old rubber membrane roof on front of building; shingled roof on back side of building - Washer, dryer, breakroom, and storage in lower level - 21'x20' detached garage, 2-stalls - Recent Renovations: New 10'x 25' shed, new shower and kitchen in residential portion, new concrete apron for driveway, painted exterior in 2022, new gutters, new 40 gallon water heater, new awning, new double pane windows for residential portion, new doors upstairs Lower-level laundry - Seconds from shopping destinations: Grocery, retail, restaurants, and coffee shops Seller willing to leaseback the main and lower level for 3 years at $3, 000/month. The AIRBNB has averaged $2, 252/month over the last 18 months. Assuming those numbers, below is how the property performs financially: Gross Income: $63, 024 Operating Expenses:$25, 609 Debt Service: $27, 345 (25% down payment, $450K purchase price, 6.50% interest rate, 25 year amortization) Cash Flow After Debt Service: $10, 069 Cap Rate: 8.31% Cash on Cash: 8.95%

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $450,000
    Property Type: Commercial
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1923
    State: MN
    Property Style: 1 Story
    Zip Code: 55417
    Neighborhood/Area: Minnehaha
    Subdivision Name: Minnehaha Park Add

    Interior

    Ceiling Height: 8-10
    Refrigerators: Two
    Appliances Included:
    • Cooktop
    • Freezer
    • Microwave
    • Refrigerator
    • Stainless Steel Appliances
    • Wall Oven
    • Washer
    Basement Details:
    • Storage Space
    • Tile Shower

    Exterior

    Stories: One
    Garage Spaces: 2
    Other Parking Spaces: 5
    Air Conditioning: Central Air
    Foundation Size: 1,032 ft2
    Handicap Accessible: Doors 36"+
    Heating System: Radiator(s)
    Parking Features:
    • Detached
    • Parking Lot
    Unit Amenities:
    • Deck
    • Hardwood Floors
    • Security System
    Road Frontage: City Street
    Exterior Material: Stucco
    Roof Details:
    • Asphalt
    • Rubber

    Lot & Land

    Acres: 0.12
    Geolocation: 44.913202, -93.222444
    Inclusions: Building, Land, Rental License
    Lot Dimensions: 40 x 134
    Zoning: Business/Commercial
    Lot Description: Infill Lot

    Farm

    Topography: Sloped

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Gross Expense: $25,609
    Tenant Expenses: Electricity, Fuel, Gas, Grounds Care, Snow Removal

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $10,293
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $10,293

    Income

    Annual Gross Income: $63,024

    Rent

    Annual Net Income: $37,415

    Units

    Total Units: 2

    Miscellaneous

    Current Use:
    • Commercial
    • Residential
    • Retail
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Common
    • Heating Common
    • Hot Water Common
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Listing provided by RMLS, courtesy of Keller Williams Premier Realty Lake Minnetonka.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.