This Property is no longer advertised on Showcase.com.
Off Market
1/33

701-703 W Lake St
Minneapolis, MN 55408


HIGHLIGHTS

  • NNN 10 year lease w Prieto Restaurant.
  • 4 Updated Apartments.
  • Irreplaceable location at southwest corner of Lyndale and West Lake street.
  • Excellent traffic counts, foot traffic and visibility
  • Prieto restaurant is owned and run by an experienced Minneapolis chef and operator.

OVERVIEW

"The Lyndale" is a mixed use, 10,320 SF multi-tenant, multi story building with an irreplaceable location at the SW corner of Lyndale and West Lake in Minneapolis' popular Lyn-Lake / Uptown neighborhood. The property has 6 rent streams: 4 apartment tenants, 1 restaurant/commercial tenant, and 1 well-below market billboard agreement w Clearchanel. Prieto Taqueria is on a new 10-year NNN Lease with Prieto Restaurant with 2% annual increases. The restaurant was completely refurbished in 2017. 3/4 Apt. Units were updated in 2017 and are on mini split hvac. Apartments have good rental history.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

The Lyndale

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

10320

STORIES

2

YEAR BUILT

1901

SPRINKLERS

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PARKING SPACES

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LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

04-028-24-11-0185