$1,850,000 701 W Lake Street Minneapolis, MN

ID: 5617158   Type: Pending   County: Hennepin   City: Minneapolis   Area: Auditors Sub 040   Neighborhood: South Uptown   Zip: 55408   Style: Mixed Use     Taxes: $40,374

Mortgage $8,685 /mo



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Previous buyer got Corona-Jitters. Mixed use apartment and retail/restaurant building at the southwest corner of Lyndale and Lake in Minneapolis' popular Uptown neighborhood. Prieto Taquria bar/restaurant is on a 10-year NNN lease with 2% annual increases. 3 of 4 apartment units were upgraded in 2017. HVAC for the restaurant is separate. 4/4 apt units have been updated, entire building has been renovated. Mechanical is in great working condition. The remodeled apartments are really nice sizes. Buyer and buyer's agent to verify all info. and measurements. Please contact broker for CA and offering memorandum. Clean phase 1, 2 and soil samples. Turn Key investment.

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Price History

7/7/2020 Listed $1,950,000
2/20/2021 6% - $1,850,000

Accessibility None
Construction Materials Brick/Stone
Contingency None
Current Use Restaurant, Residential
Garage Spaces 0
Heating Forced Air
High School District Minneapolis
Lender Owned No
Property SubType Mixed Use
Property Type Commercial Sale
Sewer City Sewer - In Street
Standard Status Pending
Tax Annual Amount 40374
Total Units 4
Zoning Description Business/Commercial, Residential-Multi-Family

Interior Features

Unit Type Efficiencies, 1 Bedroom, 2 Bedroom, 3 Bedroom, 1 Room, 2 Room, 3 Room, 4 Room, 5 Room, 6 Room, 7 Room

Exterior Features

Foundationarea 3200
Lot Dimensions 80 X 45
Lot Size Area 0.08
Lot Size Units Acres
Parking Features On-Street Parking Only
Water Source City Water - In Street
Waterfront Y/N N

Property Schools

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Property vs Zip Code Avg (55408)

Price 1.85M Avg 539K

Sqr Feet 10,320 Avg 2,316

Cost / Sqr Ft $179 Avg $233

Taxes $40,374 Avg $7,661

Acres 0.08 Avg 0.22

Visits 442 Avg 106

Days on Site 393 Avg 76

Walkscore® 94 Avg 85

Data Provided by Walkscore ® not using MLS data

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Listing Provided Courtesy Of: Standard Commercial

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Location & Address

RE/MAX Advantage Plus
17850 Kenwood Trail
, MN