Property Description
2953-2957 Lyndale Avenue SMinneapolis, MN 55408
Status: For Sale,For Lease, Pending
Property Type: Mixed Use,Multi-Family,Retail
PENDING - LANDMARK PROPERTY at the INTERSECTION of LYNDALE AVENUE SOUTH and LAKE STREET
FOR SALE - $3,550,000.00
This is a rare opportunity to own a landmark property situated at the high visibility corner of Lyndale and Lake in Minneapolis.
The property consists of two parcels, one featuring apartments and retail/restaurants encompassing 18,703 SF with 2 occupied restaurants (PKMS and Trio), 1 occupied retail space (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 property is 95% occupied featuring a beautiful brick exterior, patio, 2 full-service restaurants along with 2 full commercial kitchens. The property is priced at $3,550,000.
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 had a new roof installed in 2019. The property is situated in an Opportunity Zone.
EXECUTIVE SUMMARY
Address: 2957 Lyndale Avenue S Minneapolis, MN 55408
- PID: 34-029-24-33-0105
- Use: Mixed-use apartment and
- retail/restaurant
- Building SF: 18,703
- Site Size: .13 acres
- Zoning: C3A
Address: 2953 Lyndale Avenue S Minneapolis, MN 55408
- PID: 34-029-24-33-0107
- Use: Commercial Lot (patio and parking)
- Building SF: 5,243
- Site Size: .12 acres
- Parking Stalls: 7
- Zoning: C3A
- Opportunity Zone: Yes
- Occupancy: 95%
