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5001 S Penn Ave 578 - 3,000 SF of Retail Space Available in Minneapolis, MN 55419
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 578-3,000 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | Modified Gross |
1st Floor
Dynamite retail location in a classic building at 50th and Penn South. Up to 3000 square feet for restaurant, coffee, or ? Parking and another 700 sq. feet adjacent may also be available. Penn Place LLC 612-377-8748
- Listed rate may not include certain utilities, building services and property expenses
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Private Restrooms
- Prime retail location
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT 5001 S PENN AVE, MINNEAPOLIS, MN 55419
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Fulton Restorations
- -
- 1
- -
- Paperback Exchange
- Dollar/Variety/Thrift
- 1
- -
- Sparrow Cafe LLC
- Donut Shop
- 1
- -
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Fulton Restorations | - | 1 | - |
| Paperback Exchange | Dollar/Variety/Thrift | 1 | - |
| Sparrow Cafe LLC | Donut Shop | 1 | - |
PROPERTY FACTS
| Total Space Available | 3,000 SF | Gross Leasable Area | 7,872 SF |
| Min. Divisible | 578 SF | Year Built | 1922 |
| Property Type | Retail | Parking Ratio | 0.64/1,000 SF |
| Property Subtype | Storefront Retail/Residential |
| Total Space Available | 3,000 SF |
| Min. Divisible | 578 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Gross Leasable Area | 7,872 SF |
| Year Built | 1922 |
| Parking Ratio | 0.64/1,000 SF |
FEATURES AND AMENITIES
- Bus Line
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
Contact the Leasing Agent
5001 S Penn Ave