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5611 Chicago Ave 4,220 SF 100% Leased Retail Building Minneapolis, MN 55417 $498,000 ($118.01/SF) 8.03% Cap Rate
Investment Highlights
- 11'+ ceiling height
- perfect for owner / User
- Large windows in storefront
Executive Summary
2 Retail spaces with a 3000 Sq. Ft. Basement-
5609 leased through November 30, 2030, annual rent increases
5611 will be vacant upon closing of escrow
5609 leased through November 30, 2030, annual rent increases
5611 will be vacant upon closing of escrow
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$74,400
|
$17.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$74,400
|
$17.63
|
| Taxes |
$14,111
|
$3.34
|
| Operating Expenses |
$7,489
|
$1.77
|
| Total Expenses |
$21,600
|
$5.12
|
| Net Operating Income |
$52,800
|
$12.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $74,400 |
| Annual Per SF | $17.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $74,400 |
| Annual Per SF | $17.63 |
| Taxes | |
|---|---|
| Annual | $14,111 |
| Annual Per SF | $3.34 |
| Operating Expenses | |
|---|---|
| Annual | $7,489 |
| Annual Per SF | $1.77 |
| Total Expenses | |
|---|---|
| Annual | $21,600 |
| Annual Per SF | $5.12 |
| Net Operating Income | |
|---|---|
| Annual | $52,800 |
| Annual Per SF | $12.51 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,220 SF
Building Class
C
Year Built
1940
Price
$498,000
Price Per SF
$118.01
Cap Rate
8.03%
NOI
$40,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.69
Lot Size
0.14 AC
Zoning
C1 - Commercial/ Retail Office Business
Parking
1 Spaces (0.24 Spaces per 1,000 SF Leased)
Frontage
49’ on Chicago Ave
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Mutiny Tattoo & Piercing
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Mutiny Tattoo & Piercing | Services | - | - | - |
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Number | 23-028-24-24-0090 | Total Assessment | $480,000 (2024) |
| Land Assessment | $96,600 (2024) | Annual Taxes | $14,111 ($3.34/SF) |
| Improvements Assessment | $383,400 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
23-028-24-24-0090
Land Assessment
$96,600 (2024)
Improvements Assessment
$383,400 (2024)
Total Assessment
$480,000 (2024)
Annual Taxes
$14,111 ($3.34/SF)
Tax Year
2025
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5611 Chicago Ave
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