1201-1211 Lagoon Ave - Storefront Retail/Residential FOR SALE


Minneapolis, MN 55408- Uptown Minneapolis
$2,250,000 USD
612-875-3858
1201-1211 Lagoon Ave, Minneapolis, MN for Sale
$2,250,000 USD
Storefront Retail/Residential - FOR SALE
1/9
null | 7.82% Cap Rate

1201-1211 Lagoon Ave
Minneapolis, MN 55408
Uptown Minneapolis


HIGHLIGHTS

  • Newer construction (2006) mixed use building. Developer has been the only owner since construction.
  • 13,099 SF main floor consisting of five retail condos
  • Anchor Tenant CorePower Yoga provides stable, long term income in over 36% of the GLA (into 2032)
  • Other Tenants include Cozy Cookie, 57 FIT, and DM Companies (Seller lease-back) Significant upside via re-tenanting and increasing existing rents
  • Owner user for up to 50% of the GLA with SBA financing is also possible. Contact broker for information.
  • Priced to sell! A net income of $320,000+ (14%+ CAP) is achievable upon full occupancy. Current NOI is $172,407.

OVERVIEW

Invest in the vibrant heart of Uptown Minneapolis with this prime retail property at LUMEN ON LAGOON. Located at 1211 Lagoon Avenue, Minneapolis, MN, these highly visible street-level retail condominiums are part of a dynamic mixed-use development surrounded by a thriving commercial district known for its eclectic dining and vibrant nightlife. Boasting affluent demographics and a strong local economy, Uptown Minneapolis is a sought-after area for businesses. The property features a long-term lease with CorePower Yoga, offering stable income with additional value-add opportunities through lease-up potential. With below-market-rate tenants providing a secure investment, the property has the potential to significantly increase its NOI. Contact us for more information on this exceptional investment opportunity at LUMEN ON LAGOON.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$172 USD /SF

CAP RATE

7.82%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Lumen on Lagoon

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Storefront, Health Club

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

C3A

APN/PARCEL ID

33-029-24-43-0160,33-029-24-43-0177,33-029-24-43-0188

ASK ABOUT THIS PROPERTY

Ted LaFaveGrand Real Estate AdvisorsMore Info
612-875-3858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ted LaFaveGrand Real Estate AdvisorsMore Info
612-875-3858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.