a Berkshire Hathaway affiliate

$1,850,000

701 W Lake Street, Minneapolis, MN 55408


$1,850,000

Off-Market Date: 3/8/2021

($100,000) 2/20/2021

701 W Lake Street Minneapolis, MN 55408

Pending MLS# 5617158

10,320 sq ft Commercial

Data current as of {{getLocalTime('2021-04-17T17:51:48Z')}}

Details

MLS# 5617158

Description for 701 W Lake Street, Minneapolis, MN, 55408


Previous buyer got Corona-Jitters. Mixed use apartment and retail/restaurant building at the southwest corner of Lyndale and Lake in Minneapolis' popular Uptown neighborhood. Prieto Taquria bar/restaurant is on a 10-year NNN lease with 2% annual increases. 3 of 4 apartment units were upgraded in 2017. HVAC for the restaurant is separate. 4/4 apt units have been updated, entire building has been renovated. Mechanical is in great working condition. The remodeled apartments are really nice sizes. Buyer and buyer's agent to verify all info. and measurements. Please contact broker for CA and offering memorandum. Clean phase 1, 2 and soil samples. Turn Key investment.

Listing Information


Property Type: Commercial, Apartments and Retail

Status: Pending

Lot Size: 0.08 Acres

Square Feet: 10,320 sq ft

Year Built: 1901

Foundation: 3,200 sq ft

Garage: No

Stories:

Construction:

Property Attached: No

Date Available:

Model Home:

Development:

Completion date:

Subdivision: Auditors Sub 040

Builder:

Foundation:

Total Units: 4

Current Use: Restaurant,Residential

Background Check: No

Furnished:

Smoking Permitted: No

In Foreclosure: No

Lender Owned: No

Potential Short Sale: No

Auction: No

County: Hennepin

Days On Market: 229

HERS Score:

Construction Status: Previously Owned

School Information


District: 1 - Minneapolis

Elementary:

Middle:

High:

Utilities


Water: City Water - In Street

Sewer: City Sewer - In Street

Available Utilities: Heating Separate,Electric Separate,Electric Common,Hot Water Separate

Other Utilities:

Heating: Forced Air, Electric, Natural Gas

Exterior / Lot Features


Parking Spaces: 0

Parking Description: On-Street Parking Only

Exterior: Brick/Stone

Lot View:

Lot Dimensions: 80 X 45

Farm Type:

Crop Type:

Zoning: Business/Commercial,Residential-Multi-Family

Additional Exterior/Lot Features:

Soil Type:

Tillable Acres:

Driving Directions


Corner of Lyndale and West Lake Street in Minneapolis' Uptown/Lyn-Lake neighborhood.

Financial Considerations


Other Deposit Fees:

Covenants/Deed Restrictions:

Terms:

Tenant Pays:

Owner Pays:

Annual Income: $209,493

Annual Expense: $61,341

Ownership Type:

Tax/Property ID: 0402824110185

Tax Amount: $40,374

Tax Year: 2019

HomeStead Description: Non-Homesteaded

Price Changes


$1,950,000 Original Price
$1,850,000 Current Price
-$100,000 Total Change
Date Price Change
2/20/2021 04:07 PM $1,850,000 -$100,000
7/7/2020 01:28 PM $1,950,000

Sales History

Date Price Change
{{sales.saleDateDisplay}} {{sales.saleAmountDisplay}} {{sales.saleAmountChangeDisplay}}
Currently not available.

Tax Summary

Data provided for tax year {{salesHistoryAndTax.taxAssessment.taxYear}}

Estimated Market Value Taxable Market Value Total Tax
{{salesHistoryAndTax.taxAssessment.calculatedTotalValue}} {{salesHistoryAndTax.taxAssessment.assessedTotalValue}} {{salesHistoryAndTax.taxAssessment.taxAmount}}

Data powered by ATTOM Data Solutions. Copyright© 2021. Information deemed reliable but not guaranteed.

Schools nearby 701 W Lake Street

Schools in attendance boundaries Grades Distance SchoolDigger® Rating i
{{forSchool.institutionNameDisplay}} ({{forSchool.institutionTypeDisplay}}) {{forSchool.gradeSpanCode}} {{forSchool.distanceDisplay}} {{forSchool.greatSchoolsTestRatingDisplay}}


Schools nearby Grades Distance SchoolDigger® Rating i
{{nearSchool.institutionNameDisplay}} ({{nearSchool.institutionTypeDisplay}}) {{nearSchool.gradeSpanCode}} {{nearSchool.distanceDisplay}} {{nearSchool.greatSchoolsTestRatingDisplay}}

Data powered by ATTOM Data Solutions. Copyright© 2021. Information deemed reliable but not guaranteed.

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.

Stats for homes in {{marketTrend.postalCity}}, {{marketTrend.stateOrProvince}}

{{marketTrend.medianSalePriceDisplay}} Median Sold
Price
Up arrow
{{marketTrend.recentSalesDisplay}} Recently Sold
Listings
Up arrow
{{marketTrend.medianDaysOnMarket}} Days on
Market
Up arrow
{{marketTrend.activeListingsDisplay}} Active
Listings
Change from prior year (3-month average) Based on information from the applicable Multiple Listing Service for the years indicated. Copyright ©2021. All rights reserved.
  • Population {{marketTrend.populationDisplay}}
  • Population Density (persons per Square Mile) {{marketTrend.populationDensityDisplay}}
  • Median Household Income {{marketTrend.medianHouseholdIncomeDisplay}}
  • Households with Children {{marketTrend.householdsWithChildrenDisplay}}
  • Median Age of Home {{marketTrend.medianAgeOfHomeDisplay}}
  • Owned Homes {{marketTrend.dwellingsOwnedDisplay}}
  • Rented Homes {{marketTrend.dwellingsRentedDisplay}}
  • Vacant Homes {{marketTrend.dwellingsVacantDisplay}}

Currently not available.

Data powered by ATTOM Data Solutions. Copyright© 2021. Information deemed reliable but not guaranteed.

Walk Score

Please enter a valid phone number.
Clear all
*Required field
{{contactForm.message}}

Request Sent

Thank you for your inquiry. We will be in touch shortly regarding your question.

Status Definitions

For sale: Properties which are available for showings and purchase

Active contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Coming soon: Properties which will be on the market soon and are not available for showings.

Contingent and Pending statuses may not be available for all listings