6316-6408 56th Ave N - Storefront Retail/Office FOR SALE


Minneapolis, MN 55428
$2,995,000 USD
952-924-4600
6316-6408 56th Ave N, Minneapolis, MN for Sale
$2,995,000 USD
Storefront Retail/Office - FOR SALE
1/2
null | 8.79% Cap Rate

6316-6408 56th Ave N
Minneapolis, MN 55428


HIGHLIGHTS

  • Located in a dense retail corridor in the first ring suburb Crystal. The property is located just 6 miles Northwest of Downtown Minneapolis.
  • Retail corridor features national tenants such as Target, Aldi, Starbuck’s and McDonalds.
  • Diverse tenant mix at rents significantly below market.
  • Strong going-in cash flow and Cap Rate with significant upside through rent growth and converting to net leases.
  • Property is priced well below replacement cost.
  • The property is located near two major interstates and two large highways, seeing over 100,000 vehicles per day.

OVERVIEW

Crystal is a fully-developed, first tier suburban community just west of Minneapolis in Hennepin County, which is situated at about 5 miles from Downtown Minneapolis. The City of Crystal has more than 240 acres dedicated to parks and open space. The city maintains 26 parks as well as numerous ball fields, courts, playgrounds, trails and activity areas. The Crystal Community Center features an outdoor aquatic center, skate park and little league baseball complex. Crystal has been awarded the “Minnesota Star City” designation for economic development.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$107 USD /SF

CAP RATE

8.79%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crystal Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

C

APN/PARCEL ID

05-118-21-41-0106,05-118-21-41-0107,05-118-21-41-0111,05-118-21-41-0115

ASK ABOUT THIS PROPERTY

Sean DoyleCBREMore Info
952-924-4600

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Sean DoyleCBREMore Info
952-924-4600

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