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Berg Bag Building 410 N 3rd Ave 21,875 SF Office Building Minneapolis, MN 55401 For Sale
INVESTMENT HIGHLIGHTS
- Value-add opportunity
- Desirable North Loop Neighborhood
- Highly accessible
EXECUTIVE SUMMARY
Jones Lang LaSalle, Inc. ("JLL"), as the exclusive advisor, is pleased to present the opportunity to acquire the historic Berg Bag Building ("the Property") located at 410 N 3rd Avenue Minneapolis, MN 55401, a 4 story building totaling 21,875 SF, located in the highly sought-out North Loop district. The Property is currently 100% vacant.
This opportunity presents a chance for investors to acquire a historic asset which is attractive to multiple end-users as it is part of Minneapolis's 2040 Plan in the Transit 30 district. Further, the Property may have significant tax incentives for a new owner who is able to capitalize on the pending bill for the adaptive reuse of underutilized and vacant buildings.
This opportunity presents a chance for investors to acquire a historic asset which is attractive to multiple end-users as it is part of Minneapolis's 2040 Plan in the Transit 30 district. Further, the Property may have significant tax incentives for a new owner who is able to capitalize on the pending bill for the adaptive reuse of underutilized and vacant buildings.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
21,875 SF
Building Class
C
Year Built
1884
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
5,469 SF
Slab To Slab
9’
Building FAR
3.86
Lot Size
0.13 AC
Zoning
DT1 - Light Industrial
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Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (86)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 22-029-24-42-0045 | Improvements Assessment | $588,100 |
| Land Assessment | $803,900 | Total Assessment | $1,392,000 |
PROPERTY TAXES
Parcel Number
22-029-24-42-0045
Land Assessment
$803,900
Improvements Assessment
$588,100
Total Assessment
$1,392,000
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Berg Bag Building | 410 N 3rd Ave
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