4701-4751 Hiawatha Ave - Storefront FOR SALE


Minneapolis, MN 55406- Hiawatha
$8,700,000 USD
952-563-6605
4701-4751 Hiawatha Ave, Minneapolis, MN for Sale
$8,700,000 USD
Storefront - FOR SALE
1/8
null | 7.5% Cap Rate

4701-4751 Hiawatha Ave
Minneapolis, MN 55406
Hiawatha


HIGHLIGHTS

  • The Property is shadow anchored by Cub Foods, the only grocery store within a 1.5-mile radius.
  • The Property boasts a 10-year CAGR of 3.8%, outpacing long-term inflation, providing a natural hedge through annual rent increases and mark-to-market
  • Neighborhood is dense with over 145K people in a three-mile radius, made up of an educated, skilled labor force with average annual income $129k+
  • Easily accessible via multiple modes of transportation including Light Rail, numerous bus routes providing local feeder service, strong walkability
  • Directly adjacent to Minnehaha Regional Park and Minnehaha Creek/falls- consistent foot traffic and over 2.3M visitors
  • Located less than 2 miles north of the MSP airport

OVERVIEW

Hiawatha 46 (the “Property”) is a multi-tenant retail center shadow anchored by Cub Foods, located directly on Hiawatha Avenue in the densely populated Longfellow neighborhood of Minneapolis, MN. GROCERY SHADOW ANCHORED The Property is shadow anchored by Cub Foods, the only grocery store within a 1.5-mile radius, the nearest grocery store is across the Mississippi River in St. Paul. LONG TERM VALUE PRESERVATION The Property boasts a 10-year CAGR of 3.8%, outpacing long-term inflation, providing a natural hedge through annual rent increases and mark-to-market leasing. DENSE URBAN SUBMARKET The surrounding neighborhood is dense with over 145K people in a three-mile radius, made up of an educated, skilled labor force with average annual income more than $129K. TRANSIT ORIENTED NEIGHBORHOOD Hiawatha 46 is easily accessible via multiple modes of transportation including Light Rail (46th St./Minnehaha Station is across the street), numerous bus routes providing local feeder service, strong walkability and regional trails that support bicycle and pedestrian traffic. NEARBY DESTINATION The Property is directly adjacent to Minnehaha Regional Park and Minnehaha Creek/falls- a high draw recreational node that brings consistent foot traffic and over 2.3M visitors annually. Additionally, the property is located less than 2 miles north of the MSP airport

FOR SALE DETAILS

PRICE

$8,700,000 USD

PRICE/SF

$229 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hiawatha 46

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

119

LAND DETAILS

LAND ACRES

2.46 AC

LAND SF

107,158 SF

ZONING

-

APN/PARCEL ID

18-028-23-12-0081

ASK ABOUT THIS PROPERTY

Amy SennMid-America Real Estate Corp.More Info
952-563-6605

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Amy SennMid-America Real Estate Corp.More Info
952-563-6605

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.