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7300 42nd Ave N 6,867 SF Retail Building New Hope, MN 55427 $1,900,000 ($276.69/SF)
Investment Highlights
- Signalized corner presence on 42nd Ave N (Rockford Rd) at Nevada Ave N: 24,039 vehicles per day (MnDOT 2024).
- Flexible CB zoning: restaurant, retail, office, medical, personal services, health club, brewpub, cannabis retail & more.
- Guided Commercial in the 2040 plan inside Planning District 11, the city's designated City Center area.
- Midway between Hwy 169 & Hwy 100, about 1.3 miles to each interchange on New Hope's main east-west corridor.
- Existing building & 50+ stalls give day-one utility: occupy, lease for holding income, or clear the site.
- 102,305 people & $104,214 average household income within 3 miles.
Executive Summary
Retail / Office Repurpose / Redevelopment | 6,867 SqFt
A 1.43-acre Community Business (Zoned) site at 42nd Ave N & Nevada Ave N, with creative options: occupy or lease the existing freestanding building, or take the full City Center-guided parcel to redevelopment.
Please contact David Dirkers at 651-998-9380 or david@mrgrealtypartners.com with any questions or for additional site information /showings.
A 1.43-acre Community Business (Zoned) site at 42nd Ave N & Nevada Ave N, with creative options: occupy or lease the existing freestanding building, or take the full City Center-guided parcel to redevelopment.
Please contact David Dirkers at 651-998-9380 or david@mrgrealtypartners.com with any questions or for additional site information /showings.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,867 SF
Building Class
B
Year Built
1996
Price
$1,900,000
Price Per SF
$276.69
Tenancy
Single
Building Height
2 Stories
Building FAR
0.11
Lot Size
1.43 AC
Zoning
Commercial - CB: Community Business
Parking
50 Spaces (7.28 Spaces per 1,000 SF Leased)
Frontage
408’ on 42nd Ave N
Amenities
- Bus Line
- Pylon Sign
- Signage
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-118-21-21-0054 | Improvements Assessment | $491,000 |
| Land Assessment | $560,000 | Total Assessment | $1,051,000 |
Property Taxes
Parcel Number
17-118-21-21-0054
Land Assessment
$560,000
Improvements Assessment
$491,000
Total Assessment
$1,051,000
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