Fire Barn & Shoppes at St. Anthony Village

24 University Avenue NE Minneapolis, Minnesota 55413

  • 42,266 Square Feet
  • Office Retail
  • For Sale

Summary Description

Click here to sign the Confidentiality Agreement

PROPERTY INFORMATION

Address:
24 University Avenue NE, Minneapolis, MN

Net Rentable Area:
42,266 SF

Occupancy:
100%

Land Area:
Approximately 1.48 acres

Parking Spaces:
192

Parking Ratio:
4.54:1,000 SF

Year Built:
1910 - Fire Barn and Fire Barn Annex Buildings
2002 - Shoppes at St. Anthony Village & parking facility

Number of Stories:
Fire Barn Building - 2
Fire Barn Annex - 1
Shoppes at St. Anthony - 1

FINANCIAL SUMMARY

The Property is being offered free and clear of existing debt and without an asking price. The Property produces a year one net operating income of $1,260,366.

INVESTMENT HIGHLIGHTS

100% Occupied:
The Property is fully occupied by a diverse blend of tenants.

Outstanding Location:
The Property is ideally located in the St. Anthony neighborhood of northeast Minneapolis. Located just across the Mississippi River from the Minneapolis central business district, the St. Anthony neighborhood is a unique blend of diversely owned and rental housing, interesting restaurants and bars, shopping and creative and tech office space.

On-site Parking:
The Property's tenants and customers enjoy 192 parking spaces, an unusual and highly-sought after attribute in a dense urban location.

Live, Work, Play:
With its proximity to the Mississippi River, downtown Minneapolis and the University of Minnesota, Northeast is a hub for transit, industry and commerce, entertainment and ample dining and nightlife establishments. With a thriving arts district, Northeast is a quintessential urban neighborhood that embodies the live-work-play environment desired by tenants and professionals of every generation.

Excellent Property Fundamentals:
The Property has multiple access points; the main access point is University Avenue NE with a secondary access point off of 2nd Street.

Free and Clear of Existing Debt:
The Property is being offered free and clear of existing debt allowing investors to deploy a substantial amount of equity in one transaction and for those investors seeking to use leverage, access to favorable debt markets.

Click here to sign the Confidentiality Agreement

 

Area Available: 42,266 Square Feet

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