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2847 Central Ave NE 2,000 SF 100% Leased Retail Building Minneapolis, MN 55418 $687,415 CAD ($343.71 CAD/SF)



Investment Highlights
- Location, location, location
Executive Summary
Commercial building in the heart of Northeast Minneapolis Arts District. Located along a high-traffic corridor surrounded by restaurants, studios, shops, and neighborhood activity. Property could immediately be used as an art gallery / studio or easily converted into a coffee shop, retail space, office, or potential live/work situation. The front 1,000 square feet currently functions as an art gallery with dramatic 13-foot ceilings, excellent lighting, and a clean / open layout. The building includes approximately $15,000 in upgraded lighting that includes dimmable fluorescents and LED cans, making it ideal for displaying artwork, retail products, or creating a polished office/studio environment. Ample space can be found in the backyard which features new sod and is also completely fenced in with 6 foot horizontal privacy fencing. The fence has a locking gate on one side going to the front and a second locking gate going to the parking lot. The parking lot is accessible from the alley in back. Majority of the structure was built new in 2017. Included at that time: New HVAC, roof, electrical, plumbing and windows. Recent updates include newly painted exterior, floors, walls, and fresh sod, all in 2026. The space looks fresh, clean, and ready for immediate occupancy. Previously used as the art studio and gallery of a well-known local painter. 2847 Central Avenue NE offers a rare combination of visibility, flexibility, character, and practical workspace. Come make your own masterpiece!
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Building Size
2,000 SF
Year Built/Renovated
1931/2017
Price
$687,415 CAD
Price Per SF
$343.71 CAD
Percent Leased
100%
Building Height
1 Story
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-029-24-22-0086 | Total Assessment | $435,472 CAD (2024) |
| Land Assessment | $134,213 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $301,259 CAD (2024) | Tax Year | 2026 |
Property Taxes
Parcel Number
12-029-24-22-0086
Land Assessment
$134,213 CAD (2024)
Improvements Assessment
$301,259 CAD (2024)
Total Assessment
$435,472 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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2847 Central Ave NE
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