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425 E Hennepin Ave
Minneapolis, MN 55414
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Home to a thriving community known for its arts and history, shopping, restaurants and bars, trails and breathtaking views of the river.
- Purchase price is negotiable.
EXECUTIVE SUMMARY
This is a prime redevelopment site in the Nicollet Island – East Bank neighborhood of Northeast Minneapolis; home to a thriving community known for its arts and history, shopping, restaurants and bars, trails and breathtaking views of the river and Downtown Minneapolis. The neighborhood has experienced regular development of both mid and high-rise multifamily housing with street level retailing. Eight such developments have been completed within a 4-block radius over the past 10 years. The site is zoned for Community Mixed Use (CM3) and the Minneapolis 2040 Comprehensive Plan’s vision for this site, in a Transit 30 district, supports densification with Built Form Guidance of 10 to 30 stories. An additional 0.34 acre parcel (vacant parking lot) across the street is also for sale by seller.
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Bank
Building Size
24,900 SF
Building Class
B
Year Built
1975
Price
$5,391,750 CAD
Price Per SF
$216.54 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.45
Lot Size
1.27 AC
Zoning
CM3 - Community Mixed Use (CM3) and in a Transit 30 District, supports densification with Built Form Guidance of 10 to 30 stories.
Parking
46 Spaces (1.85 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 23-029-24-12-0103 | Improvements Assessment | $1,147,060 CAD |
| Land Assessment | $3,387,540 CAD | Total Assessment | $4,534,600 CAD |
PROPERTY TAXES
Parcel Number
23-029-24-12-0103
Land Assessment
$3,387,540 CAD
Improvements Assessment
$1,147,060 CAD
Total Assessment
$4,534,600 CAD
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