Trophy Downtown Restaurant & Rooftop Bar 700 Hennepin Ave 31,255 SF Vacant Retail Building Online Auction Sale Minneapolis, MN 55403

Newmark is pleased to exclusively offer the fee simple interest in 700 Hennepin Avenue (formerly The Seven Steakhouse). This iconic retail property combines high-quality modern features, a flexible layout, and premier placement surrounded by Minneapolis’ sought-after Theater District and sports complexes.

700 Hennepin Avenue comprises approximately 36,093 usable square feet, including what is arguably Minneapolis’s largest rooftop bar & patio at over 8,400 square feet. The property's first floor includes a large bar, a full kitchen, and a spacious dining area. The second floor offers an added lounge dining area, connecting two bars and another full kitchen. There are also several private dining rooms on a mezzanine level. The rooftop has two full-service bars and restrooms and is easily accessible via the building’s elevator. Supporting operational efficiency, the property’s lower level is equipped with a prep kitchen with multiple coolers, an equipment room, and utility and storage spaces. The spaces are defined by high ceilings and large windows, filling the spaces with rich natural light and offering sweeping views of the historic downtown hub. Several billboards connected to the rooftop are not included in the sale. This rare offer allows a new owner to acquire a trophy asset at well below replacement cost, estimated to be between $10.8 and $12.6 million.

Situated at the corner of North 7th Street and Hennepin Avenue in Downtown Minneapolis, 700 Hennepin Avenue benefits tenants with proximity to many of the area’s busiest demand drivers. The building is directly adjacent to the Pantages Theatre and the vibrant First Avenue music venue and is just a short walk from other historic theatres, including The Stage Theatre and the Orpheum Theatre. Additional strong vehicle and foot traffic is drawn to the area by major sporting venues, including the Target Center, just one block away, and Target Field, just two blocks away. Home to professional teams including the NBA’s Timberwolves, the WNBA’s Lynx, and the MLB’s Twins, these bustling destinations draw more than 9.7 million annual visitors, empowering retailers in the area with a robust, built-in audience. Parking in the area is also a breeze, with the adjacent Mayo Clinic Square parking deck offering 673 spaces, and the Dayton Parking facility delivering another 800 spaces just half a block away.

The Twin Cities of Minneapolis and St. Paul offer a powerful combination of stability and dynamism, making them a prime location for businesses of all sizes. With a diverse and growing economy, the region boasts a robust infrastructure and a skilled workforce nurtured by world-class universities and research institutions. Forming the nation’s 10th-largest economy, the region is home to the headquarters for 17 Fortune 500 companies, and it is a fixture of the nation’s healthcare, banking/finance, retail, manufacturing, agriculture, and education industries. The area’s economic strength and steady population and job growth create massive demand for retail space, and the local submarket boasts vacancies of just 2.7%, driving rent growth of more than 4.5% during the past 12 months. When looking just 1 mile from 700 Hennepin Avenue, the population of more than 42,000 has grown 10% since 2020 and produced over $673 million in annual consumer spending, exemplifying the strength of the area as a premier destination for both growing businesses and investors.

Don’t miss the chance to enter or expand in one of the most valuable US markets with this iconic retail property offering a best-in-class location and the largest rooftop bar in Minneapolis at 700 Hennepin Avenue.

* Please note that the rooftop billboard’s, south facing wall sign and second floor wall sign are not included in the sale