Property Description
2953-2957 Lyndale Avenue SMinneapolis, MN 55408
Status: For Sale,For Lease
Property Type: Mixed Use,Retail
UPTOWN OWNER/OCCUPANT/INVESTMENT PROPERTY FOR SALE
2957 Lyndale Avenue South - LANDMARK PROPERTY (RESTAURANT/RETAIL/MULTI-FAMILY) AT THE INTERSECTION OF LYNDALE & LAKE - 100% Occupied - $3,450,000.00
2953 Lyndale Avenue South - COMMERCIAL LOT - $500,000.00
FOR SALE COMBINED OR SEPARATELY
This Property May Qualify For New Market Tax Credits!
This is a rare opportunity to own a landmark property situated at the high visibility corner of Lyndale and Lake in Minneapolis’ popular Uptown neighborhood.
The property consists of two parcels, one featuring a mixed-use apartment and retail/restaurant building encompassing 18,703 SF with 2 occupied restaurants (It’s Greek To Me and Trio), 2 occupied retail spaces (SuiteSpot SalonSpa and The Lasherie), and 6 occupied apartment units (1, 2 and 3-bedroom apartments) as well as a Clear Channel Billboard.
The other parcel features a large outdoor patio and parking lot (7 spaces) with 5,243 SF.
The property is available for the first time in over 30 years. The building is 100% occupied featuring a beautiful brick exterior, patio, 2 full-service restaurants along with 2 full commercial kitchens.
The restaurants, apartments, and retail feature very tall ceilings and windows throughout. The Restaurants and Retail Spaces have been completely updated. The property has been well maintained and has a new roof, installed in 2019. The property is situated in an Opportunity Zone.
For Sale: 23,946 SF
- PID 34-029-24-33-0105
- 2023 Tax: $59,423.54
- PID 34-029-24-33-0107
- 2023 Taxes $9,476.16
- Sale Price: $3,950,000.00 ($164.95 psf)
