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INVESTMENT HIGHLIGHTS
- Value-Add Opportunity at the convergence of downtown's hottest and fasted growing North Loop submarket and Gateway District
- Diverse Rent Roll with Positive NOI and Staggered Roll Over Schedule
- Diminishing Competitive Set Through Limited Development & Recent Conversions
- Turn Key Space & Proven Spec Suite Program
- Boutique Office Building Located in the Heart of the CBD
- Future Conversion Potential
EXECUTIVE SUMMARY
CBRE is pleased to offer to qualified investors an opportunity to acquire The 15 Building (the “Property”), a 12-story, 131,460 square foot office building featuring Art Deco design elements and historic architecture. Strategically located in the Central CBD at the convergence of downtown Minneapolis’ hottest and fastest growing North Loop submarket and the CBD’s Gateway District, The 15 Building offers investors the opportunity to purchase a value-add, renovated office building with an additional $3.25 million in base building capital invested since 2021, adjacent to Minneapolis’ most coveted location with in-place cash flow and substantial upside through the lease up of the existing vacant suites.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
131,460 SF
Building Class
B
Year Built/Renovated
1916/2018
Percent Leased
65%
Tenancy
Multiple
Building Height
12 Stories
Typical Floor Size
10,955 SF
Slab To Slab
11’
Building FAR
7.54
Lot Size
0.40 AC
Zoning
B4-2
AMENITIES
- Bus Line
- Commuter Rail
- Signage
- Skyway
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (88)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 22-029-24-44-0054 | Improvements Assessment | $4,709,600 |
| Land Assessment | $3,290,400 | Total Assessment | $8,000,000 |
PROPERTY TAXES
Parcel Number
22-029-24-44-0054
Land Assessment
$3,290,400
Improvements Assessment
$4,709,600
Total Assessment
$8,000,000
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The 15 Building | 15 S 5th St
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