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701-703 W Lake St
Minneapolis, MN 55408
The Lyndale · Retail Property For Sale
Investment Highlights
- NNN 10 year lease w Prieto Restaurant.
- Irreplaceable location at southwest corner of Lyndale and West Lake street.
- Prieto restaurant is owned and run by an experienced Minneapolis chef and operator.
- 4 Updated Apartments.
- Excellent traffic counts, foot traffic and visibility
Property Facts
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
10,320 SF
Building Class
C
Year Built
1901
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
1.97
Lot Size
0.12 AC
Zoning
C3A
Frontage
Amenities
- Bus Line
- Signage
- Signalized Intersection
About 701-703 W LAKE ST , MINNEAPOLIS, MN 55408
"The Lyndale" is a mixed use, 10,320 SF multi-tenant, multi story building with an irreplaceable location at the SW corner of Lyndale and West Lake in Minneapolis' popular Lyn-Lake / Uptown neighborhood. The property has 6 rent streams: 4 apartment tenants, 1 restaurant/commercial tenant, and 1 well-below market billboard agreement w Clearchanel. Prieto Taqueria is on a new 10-year NNN Lease with Prieto Restaurant with 2% annual increases. The restaurant was completely refurbished in 2017. 3/4 Apt. Units were updated in 2017 and are on mini split hvac. Apartments have good rental history.
Property Taxes
| Parcel Number | 04-028-24-11-0185 | Improvements Assessment | $1,673,000 |
| Land Assessment | $157,000 | Total Assessment | $1,830,000 |
Property Taxes
Parcel Number
04-028-24-11-0185
Land Assessment
$157,000
Improvements Assessment
$1,673,000
Total Assessment
$1,830,000
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