0.54 Acres Lot
0.54 Acres Lot
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
EXECUTIVE SUMMARY | FULLY OCCUPIED UPTOWN RETAIL INVESTMENT
Grand Real Estate Advisors is proud to present Lumen on Lagoon, a prime street-level retail condominium opportunity in the heart of Uptown Minneapolis. This modern, fully occupied property offers an exceptional blend of stable income and immediate rent upside, located directly beneath four floors of owner-occupied residential units in a dynamic mixed-use development.
INVESTMENT HIGHLIGHTS
Exceptional Cap Rate: Offering a strong 9.3% In-Place Cap Rate based on an NOI of $241,975.80 (2026), providing immediate, stable cash flow.
Strong Anchor Tenancy: Over 60% of the GLA is secured by long-term leases with established national and regional tenants, including CorePower Yoga (through 2032) and SOFACLUB Cannabis (through 2036).
Immediate Value-Add Opportunity: 57 FIT occupies 25% of the GLA and is currently paying below market rates. The lease includes a clause allowing the new Owner to terminate tenancy by providing 90 days written notice, providing the flexibility to immediately re-tenant the space at higher market rates. Alternatively, an owner-user could occupy this portion of the building.
Affluent & Educated Demographics: Situated in a thriving, highly walkable area known for its strong median household income and high concentration of young professionals who support the surrounding eclectic dining, boutique shopping, and service-oriented businesses.
PROPERTY DETAILS
Address: 1211 Lagoon Avenue, Minneapolis, MN 55408
Gross Square Footage: 13,099 SF (Entire first floor; structured as 3 PID's - Condos)
Year Built: 2006 (Modern construction)
This is an unparalleled opportunity to acquire a stable, high-performing retail asset in one of Minneapolis' most energetic and consistently sought-after neighborhoods.
Contact Broker for confidential Offering Memorandum and full Rent Roll details.
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
Director of Sales and Brokerage Operations | License ID: 40351151
+1(612) 850-1255 | mhouseman@1stselect.net