$2,600,000
2938 Emerson Avenue S #2930 Emerson No.\u0027s 101 &, Minneapolis, MN 55408
$2,600,000
2938 Emerson Avenue S #2930 Emerson No.\u0027s 101 & Minneapolis, MN 55408
For Sale MLS# 6686113
13,099 sq ft Commercial
Details for 2938 Emerson Avenue S #2930 Emerson No.'s 101 &
MLS# 6686113
Description for 2938 Emerson Avenue S #2930 Emerson No.'s 101 &, Minneapolis, MN, 55408
*Fully leased and back on market 12/1/2025*EXECUTIVE SUMMARY FULLY OCCUPIED UPTOWN RETAIL INVESTMENTGrand Real Estate Advisors is proud to present Lumen on Lagoon, a prime street-level retail condominium opportunity in the heart of Uptown Minneapolis. This modern, fully occupied property offers an exceptional blend of stable income and immediate rent upside, located directly beneath four floors of owner-occupied residential units in a dynamic mixed-use development.INVESTMENT HIGHLIGHTSExceptional Cap Rate: Offering a strong 9.3% In-Place Cap Rate based on an NOI of $241,975.80 (2026), providing immediate, stable cash flow.Strong Anchor Tenancy: Over 60% of the GLA is secured by long-term leases with established national and regional tenants, including CorePower Yoga (through 2032) and SOFACLUB Cannabis (through 2036).Immediate Value-Add Opportunity: 57 FIT occupies 25% of the GLA and is currently paying below market rates. The lease includes a clause allowing the new Owner to terminate tenancy by providing 90 days written notice, providing the flexibility to immediately re-tenant the space at higher market rates. Alternatively, an owner-user could occupy this portion of the building.Affluent & Educated Demographics: Situated in a thriving, highly walkable area known for its strong median household income and high concentration of young professionals who support the surrounding eclectic dining, boutique shopping, and service-oriented businesses.PROPERTY DETAILSAddress: 1211 Lagoon Avenue, Minneapolis, MN 55408Gross Square Footage: 13,099 SF (Entire first floor; structured as 3 PID's - Condos)Year Built: 2006 (Modern construction)This is an unparalleled opportunity to acquire a stable, high-performing retail asset in one of Minneapolis' most energetic and consistently sought-after neighborhoods.Contact Broker for confidential Offering Memorandum and full Rent Roll details.
Listing Information
Property Type: Commercial, Apartments and Retail
Status: Active
Lot Size: 0.54 Acres
Square Feet: 13,099 sq ft
Year Built: 2007
Foundation: 114 sq ft
Number Of Units Total: 5
Current Use: Commercial,Professional Service,Retail
County: Hennepin
Days On Market: 194
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Accessibility: Grab Bars In Bathroom, No Stairs Internal, Partially Wheelchair, Doors 36+, Hallways 42+
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Separate
Heating: Natural Gas, Forced Air
Exterior / Lot Features
Parking Description: More Parking Offsite for Fee, On-Street Parking Only
Exterior: Other
Lot Dimensions: 114.5 x 114.5
Zoning: Business/Commercial
Additional Exterior/Lot Features: Land Inclusions - Building,Leases
Driving Directions
West on Lake Street until it becomes Lagoon Ave. Property on Left (at Emerson and Lagoon)
Financial Considerations
Tenant Pays: All Utilities,Common Area Maintenance,Taxes
Gross Income: 348736
Tax/Property ID: 3302924430144
Tax Amount: 78350
Tax Year: 2024
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Grand Real Estate Advisors
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 2938 Emerson Avenue S #2930 Emerson No.\u0027s 101 &
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 2938 Emerson Avenue S #2930 Emerson No.\u0027s 101 &
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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