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3040 Lyndale Ave S 7,600 SF 25% Leased Office Building Minneapolis, MN 55408 $1,300,000 ($171.05/SF) 7% Cap Rate
Executive Summary
This rare two-address opportunity includes both 3040 Lyndale Ave S and 3045 Aldrich Ave S in the heart of the highly desirable Lyn-Lake neighborhood, offering unmatched flexibility and value with all furniture included at no extra cost at the seller’s discretion. The non-historic corner building retains its original charm and features four levels totaling approximately 7,600 square feet, including a usable leased basement, 9+ executive offices, multiple co-working and collaborative spaces, three attached garage stalls, and a five-car on-site parking lot, while the second parcel provides a ten-car parking lot with flexibility for future development. 3040 Lyndale is zoned CM3 and allows for retail, office, residential, multifamily, or live-work uses and currently generates $1,525 per month from two month-to-month tenants, providing immediate cash flow. 3045 Aldrich is zoned UN3 and is ideal for residential. Located at the high-visibility corner of Lyndale and 31st, this is a rare chance to own a versatile, income-producing property in one of Minneapolis’ hottest area. Please do not disturb tenants and schedule all tours through the listing brokers.
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Building Size
7,600 SF
Building Class
B
Year Built
1930
Price
$1,300,000
Price Per SF
$171.05
Cap Rate
7%
NOI
$91,000
Percent Leased
25%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,800 SF
Building FAR
0.55
Lot Size
0.32 AC
Zoning
CM3 & UN3 - Community Mixed Use Zoning District (Building) & Urban Neighborhood 3 Zoning District (Parking Lot)
Parking
18 Spaces (2.37 Spaces per 1,000 SF Leased)
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Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (98)
Property Taxes
| Parcel Numbers | Improvements Assessment | $363,000 | |
| Land Assessment | $472,400 | Total Assessment | $835,400 |
Property Taxes
Parcel Numbers
Land Assessment
$472,400
Improvements Assessment
$363,000
Total Assessment
$835,400
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3040 Lyndale Ave S
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