2520-2522 Nicollet Ave | Minneapolis, MN 55404
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- LoopNet Team
2520-2522 Nicollet Ave
Minneapolis, MN 55404
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Icehouse Plaza is a multi-tenant center that is 100% leased by seven retail tenants, all of which are on net leases, and has 13 residential units
- The most recent new lease, which is with Starbucks, has a per square foot rent rate that is 67% higher than the next highest rate in the center
- The property is ideally situated on the best corner in the submarket, the signalized intersection of Nicollet Ave and W 26th St
- The in-place loan on the asset is assumable and features a below-market interest rate of 4.45%
- The center boasts a WALT of 6.0 years, and the two largest tenants each have 7+ years of term remaining
PROPERTY FACTS
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
18,734 SF
Building Class
C
Year Built
1911
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
13’
Building FAR
0.73
Lot Size
0.59 AC
Zoning
C3A
Parking
25 Spaces (1.33 Spaces per 1,000 SF Leased)
Frontage
116’ on Nicollet Ave
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,349,500 | |
| Land Assessment | $1,390,500 | Total Assessment | $7,740,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,390,500
Improvements Assessment
$6,349,500
Total Assessment
$7,740,000
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