Vegan East | 2409 S Lyndale Ave
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Vegan East 2409 S Lyndale Ave
5,791 SF 78% Leased Retail Building Minneapolis, MN 55405 $1,349,000 ($233/SF) 5.45% Cap Rate
Investment Highlights
- Located in the heart of Uptown with a robust 24,000 car daily traffic count
- Prime redevelopment candidate when paired with available duplex next door. Potential for 140 ft of frontage and 0.38 acres
- Huge off street parking lot with 15 spaces
Executive Summary
Unleash the potential of this property zoned as CM2 Corridor Mixed-Use, presenting an exceptional opportunity for lucrative investment or innovative redevelopment ventures. ADDITIONAL NEIGHBORING LOT (2417 LYNDALE) CAN BE PURCHASED.
Whether purchasing for redevelopment or keeping as is, this property’s location is prime. Nearly 100 feet of frontage along bustling Lyndale Avenue with a robust traffic count of 24,000 vehicles per day. Highly accessible neighborhood with walk score of 93/100 and bike score of 96/100.
This six-unit mixed use building has four residential units and two adaptable commercial spaces. Perfectly suited for a variety of tenant needs, the commercial units offer flexible layouts to accommodate diverse businesses. One of the commercial units will be vacant after 5/31/24 opening an opportunity for owner/operator buyers. Residential units have been renovated and have Tier 1 rental licenses with the city of Minneapolis. Ample parking convenience with 15 spaces available across adjacent and rear lots, along with additional amenities like laundry facilities, a patio, storage, and a single-stall garage.
Whether purchasing for redevelopment or keeping as is, this property’s location is prime. Nearly 100 feet of frontage along bustling Lyndale Avenue with a robust traffic count of 24,000 vehicles per day. Highly accessible neighborhood with walk score of 93/100 and bike score of 96/100.
This six-unit mixed use building has four residential units and two adaptable commercial spaces. Perfectly suited for a variety of tenant needs, the commercial units offer flexible layouts to accommodate diverse businesses. One of the commercial units will be vacant after 5/31/24 opening an opportunity for owner/operator buyers. Residential units have been renovated and have Tier 1 rental licenses with the city of Minneapolis. Ample parking convenience with 15 spaces available across adjacent and rear lots, along with additional amenities like laundry facilities, a patio, storage, and a single-stall garage.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,791 SF
Building Class
C
Year Built
1911
Price
$1,349,000
Price Per SF
$233
Cap Rate
5.45%
NOI
$73,553
Percent Leased
78%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
9’
Building FAR
0.49
Lot Size
0.27 AC
Zoning
CM2 - The CM2 Corridor Mixed Use District includes small, moderate, and large scale commercial uses. Mixed use multi story development is encouraged.
Parking
15 Spaces (2.59 Spaces per 1,000 SF Leased)
Frontage
98 FT on S Lyndale Ave
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score ®
Walker's Paradise (93)
Bike Score ®
Biker's Paradise (96)
Nearby Major Retailers
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Vegan East | 2409 S Lyndale Ave
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