2938 Emerson AVE S #2930 Emerson No.'s 101 & 102; plus 1201, 1203, & 1 Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55408
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6686113
Year Built 2007
Annual Tax Amount $78,350
Tax Year 2024
Contingent None
Lot Size 0.540 Acres
Acres 0.54
Lot Dimensions 114.5 x 114.5
Property Sub-Type Mixed Use
Property Description
Offering the entire main floor of the Lumen On Lagoon condo building; 13,099 SF of retail space consisting of 5 total units and all 3 PID's; 33-029-24 43 0144, 33-029-24 43 0146, 33-029-24 43 0148. Long term lease in place with CorePower Yoga for over 36% of the building (+ other tenants). Cap rate of 7.82% based on in-place income. ProForma Cap rate once fully leased is over 14%. Incredible value-add or owner-user investment opportunity in outstanding Uptown location, priced to move. Financials available- contact agent.
Location
State MN
County Hennepin
Zoning Business/Commercial
Interior
Heating Forced Air
Inclusions Building,Leases
Fireplace No
Exterior
Parking Features On-Street Parking Only,More Parking Offsite for Fee
Utilities Available Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Separate
Present Use Commercial,Professional Service,Retail
Building
Foundation 114
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Other
Schools
School District Minneapolis