2957 Lyndale Ave S

Multi-Family: Mixed Use

2957 Lyndale Ave S, MinneapolisMN 55408

Property Details

Location

Address
2957 Lyndale Ave S, MinneapolisMN 55408
County
Hennepin
Submarket
MN - West
Cross Street
610-626 Lake St W
In Opportunity Zone
Yes

Building Size

Building Size
19,089 SF

Building Details

Type
 Multi-Family: Mixed Use
Number of Buildings
1
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
3
Year Built
1900
Sprinklers
Primary Const.
Masonry
Parking Ratio
Water Frontage
Not present

Land & Utilities

Land (Acres)
0.25 Acres
Land (SF)
10,890 SF
Electricity
Yes
Sanitary Sewer
Yes
Water
Yes
Zoning
C3A
Lot Depth
Lot Width

Contacts

Current Listings

Uptown Owner/Occupant/Investment Property for Sale

18,703 SF$3,450,000
Cap Rate: 5.29%
Christianson & Company Commercial Real Estate Services

This Property May Qualify For New Market Tax Credits!

This is a rare opportunity to own a landmark property situated at the high visibility corner of Lyndale and Lake in Minneapolis’ popular Uptown neighborhood.

The property consists of two parcels, one featuring a mixed-use apartment and retail/restaurant building encompassing 18,703 SF with 2 occupied restaurants (It’s Greek To Me and Trio), 2 occupied retail spaces (Suite Spot Salon Spa and The Lasherie), and 6 occupied apartment units (1, 2 and 3-bedroom apartments) as well as a Clear Channel Billboard. The Property is priced at $3,495,000

The other parcel features a large outdoor patio and parking lot (7 spaces) with 5,243 SF. The Parcel is priced at $500,000.

Both Parcels can be sold combined or separately.

The property is available for the first time in over 30 years. The building is 100% occupied featuring a beautiful brick exterior, patio, 2 full-service restaurants along with 2 full commercial kitchens.

The restaurants, apartments, and retail feature very tall ceilings and windows throughout. The Restaurants and Retail Spaces have been completely updated. The property has been well maintained and has a new roof, installed in 2019. The property is situated in an Opportunity Zone.

For Sale: 18,703 SF

2021 Taxes $57,660.22

Sale Price: $3,450,000.00 ($184.46 PSF)

Touring of the Apartment Units requires 72-hour notice to the renters.

Christianson & Company Commercial Real Estate Services

This Property May Qualify For New Market Tax Credits!

This is a rare opportunity to own a landmark property situated at the high visibility corner of Lyndale and Lake in Minneapolis’ popular Uptown neighborhood.

The property consists of two parcels, one featuring a mixed-use apartment and retail/restaurant building encompassing 18,703 SF with 2 occupied restaurants (It’s Greek To Me and Trio), 2 occupied retail spaces (Suite Spot Salon Spa and The Lasherie), and 6 occupied apartment units (1, 2 and 3-bedroom apartments) as well as a Clear Channel Billboard. The Property is priced at $3,495,000

The other parcel features a large outdoor patio and parking lot (7 spaces) with 5,243 SF. The Parcel is priced at $500,000.

Both Parcels can be sold combined or separately.

The property is available for the first time in over 30 years. The building is 100% occupied featuring a beautiful brick exterior, patio, 2 full-service restaurants along with 2 full commercial kitchens.

The restaurants, apartments, and retail feature very tall ceilings and windows throughout. The Restaurants and Retail Spaces have been completely updated. The property has been well maintained and has a new roof, installed in 2019. The property is situated in an Opportunity Zone.

For Sale: 18,703 SF

2021 Taxes $57,660.22

Sale Price: $3,450,000.00 ($184.46 PSF)

Touring of the Apartment Units requires 72-hour notice to the renters.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

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