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2450 Park Ave 7,000 SF Office Building Minneapolis, MN 55404 $1,925,000 ($275/SF)

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INVESTMENT HIGHLIGHTS

Well Maintained Building
Great Opportunity

Great Location

EXECUTIVE SUMMARY

Martin de Porres Hall Is 7,000 square feet of prime space located at 2450 Park Ave. in South Minneapolis. This classic one-story building includes a full basement. The 1970s built property sits on .55 acres and has 20+ parking spaces. Additionally, the solar panels on the roof reduce significantly the annual operating costs of the property. The building contains 6 large classrooms, 12 offices, and a lounge, and most importantly it is move-in ready. Last renovated in 2008, the building is well maintained and is in great shape. The building is ready today to become a school (early education, elementary, middle, or high school). Potential other uses include office, childcare, or a senior care center. Combined with 2440 Park Avenue located next door, a redevelopment could include multifamily residences or conversion to medical use. The property is zoned for commercial RM 3 and is ADA compliant.

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Office

Building Size

7,000 SF

Building Class

Year Built

1968

Price

$1,925,000

Price Per SF

$275

Tenancy

Single

Building Height

1 Story

Typical Floor Size

7,000 SF

Building FAR

0.29

Lot Size

0.55 AC

Opportunity Zone

Yes

Zoning

RM3

Parking

20 Spaces (2.86 Spaces per 1,000 SF Leased)

Bus Line

Signage

MAJOR TENANTS

Educational Services
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Bishop Patrick R. Heffron, the second bishop of Winona, founded Saint Mary's as a college in 1912 to provide higher education for young men in southern Minnesota's Diocese of Winona and surrounding areas. In its early years, the university operated as an academy and junior college. In 1925, it became a four-year liberal arts college. The descendants of nineteenth-century settlers in Minnesota and Wisconsin thus received a classical education from a highly educated faculty composed primarily of diocesan clergy. The students of the early decades became religious, professional, and business leaders in their communities.