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Art & Architecture Building 3338 SE University Ave 43,000 SF 100% Leased Retail Building Minneapolis, MN 55414 $2,300,000 ($53.49/SF)
Investment Highlights
- Historic brick and concrete building
- 20 parking stalls behind property
- Located near dining options and entertainment as well as Tower Hill Park
- Huge windows
- Excellent location and close to transportation
- Existing tenants and cash flow
Executive Summary
Previously the "Furniture Mart" and now known as "Art & Architecture" the building was built in 1919 and consists of 43,000 SF of mostly open, flexible spaces with huge
windows.
Located in the heart of the vibrant Prospect Park neighborhood of Southeast Minneapolis, this property has multiple convenient transportation options including bike, car, bus, and is across the street from the METRO Green Line light rail. It is a two-minute walk to the LRT station.
Tower Hill Park is located one block to the north, offering some of the best views of Downtown Minneapolis. Other neighborhood amenities include Surly Brewing, The Market
at Malcolm Yards, Fresh Thyme, Spire Credit Union, O'Shaughnessy Distillery, and multiple coffee shops including Bordertown, Dogwood, Caribou and Workhorse Coffee Bar. The location is convenient to the University of MN campus and Dinkytown and to both downtowns.
windows.
Located in the heart of the vibrant Prospect Park neighborhood of Southeast Minneapolis, this property has multiple convenient transportation options including bike, car, bus, and is across the street from the METRO Green Line light rail. It is a two-minute walk to the LRT station.
Tower Hill Park is located one block to the north, offering some of the best views of Downtown Minneapolis. Other neighborhood amenities include Surly Brewing, The Market
at Malcolm Yards, Fresh Thyme, Spire Credit Union, O'Shaughnessy Distillery, and multiple coffee shops including Bordertown, Dogwood, Caribou and Workhorse Coffee Bar. The location is convenient to the University of MN campus and Dinkytown and to both downtowns.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
43,000 SF
Building Class
C
Year Built
1919
Price
$2,300,000
Price Per SF
$53.49
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Loading Docks
1 Exterior
Building FAR
1.81
Lot Size
0.55 AC
Zoning
CBFT10/C3A/UA
Parking
20 Spaces (0.47 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 30-029-23-41-0024 | Improvements Assessment | $2,266,200 |
| Land Assessment | $963,800 | Total Assessment | $3,230,000 |
Property Taxes
Parcel Number
30-029-23-41-0024
Land Assessment
$963,800
Improvements Assessment
$2,266,200
Total Assessment
$3,230,000
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Art & Architecture Building | 3338 SE University Ave
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