Minneapolis, MN 55417,Address not disclosed
Minneapolis, MN 55417,Address not disclosed
Minneapolis, MN 55417,Address not disclosed
Minneapolis, MN 55417,Address not disclosed
Minneapolis, MN 55417,Address not disclosed
Minneapolis, MN 55417,Address not disclosed
Maria Susana Huntwork
Maria Susana Huntwork

+1(612) 322-0132

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$ 450,000

$ 450,000

Est. payment | /mo

5,227 Sqft Lot


$ 450,000

$ 450,000

Est. payment | /mo

5,227 Sqft Lot

Key Details

Sold Price $450,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Subdivision Minnehaha Park Add

MLS Listing ID 6732823

Sold Date 07/21/25

Year Built 1923

Annual Tax Amount $10,293

Tax Year 2025

Contingent None

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 40x134

Property Description

PROPERTY HIGHLIGHTS
- Property has a boiler system for heat; the front portion of building has central rooftop
unit for A/C, and other portions have window A/C units 2008 roof
- 3-year old rubber membrane roof on front of building; shingled roof on back side of building
- Washer, dryer, breakroom, and storage in lower level
- 21'x20' detached garage, 2-stalls
- Recent Renovations: New 10'x 25' shed, new shower and kitchen in residential portion, new concrete apron for driveway, painted exterior in 2022, new gutters, new 40 gallon water heater, new awning, new double pane windows for residential portion, new doors upstairs Lower-level laundry
- Seconds from shopping destinations: Grocery, retail, restaurants, and coffee shops
Seller willing to leaseback the main and lower level for 3 years at $3,000/month. The AIRBNB has averaged $2,252/month over the last 18 months. Assuming those numbers, below is how the property performs financially:
Gross Income: $63,024
Operating Expenses:$25,609
Debt Service: $27,345 (25% down payment, $450K purchase price, 6.50% interest rate, 25 year amortization)
Cash Flow After Debt Service: $10,069
Cap Rate: 8.31%
Cash on Cash: 8.95%

Location

State MN

County Hennepin

Zoning Business/Commercial

Rooms

Basement Storage Space, Tile Shower

Interior

Heating Radiator(s)

Cooling Central Air

Fireplace No

Appliance Cooktop, Freezer, Microwave, Refrigerator, Stainless Steel Appliances, Wall Oven, Washer

Exterior

Parking Features Detached, Parking Lot

Garage Spaces 2.0

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Asphalt,Rubber

Present Use Commercial,Residential,Retail

Building

Lot Description Infill Lot

Story One

Foundation 1032

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories One

Structure Type Stucco

Schools

School District Minneapolis

Listed by Royce Durhman • Keller Williams Premier Realty Lake Minnetonka

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