3050 Coon Rapids BLVD NW Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55433
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 78,408 sqft
Price per Sqft $33
Subdivision Auditors Sub 74
MLS Listing ID 6767111
Year Built 1978
Annual Tax Amount $24,093
Lot Size 0.723 Acres
Property Description
This large multi-tenant commercial building presents a compelling
investment opportunity, particularly for buyers seeking value-add
potential with built-in stability. The property benefits from zoning that
allows for both automotive and o?ice warehouse uses through a
Conditional Use Permit (CUP), which greatly expands the scope of
allowable tenants and maximizes long-term leasing flexibility.
Currently, the building is leased at below-market rental rates, leaving
significant room for future income upside as leases turn over or are
renegotiated. The tenant base is composed of a solid mix of occupants
from various industries, providing diversification and reducing the risk
associated with vacancy or market shis.
In addition to its favorable zoning and tenant structure, the property
has recently undergone major renovations totaling approximately
$750,000. These capital improvements were completed by the current
ownership and address many of the typical deferred maintenance
items, positioning the building for reduced operational costs in the near
term and increased attractiveness to new tenants.
Overall, this asset combines strong fundamentals with meaningful
upside potential, making it an ideal candidate for investors seeking
both stability and growth in a well-located commercial property.
Location
State MN
County Anoka
Community Auditors Sub 74
Zoning Business/Commercial
Interior
Heating Forced Air
Flooring 78408.0
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate,Heating Separate
Roof Type Age Over 8 Years,Metal
Building
Foundation Other
Water City Water - In Street