345 E 38th Street

Minneapolis   

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Property Details

Type: Investment/Retail Style: Free Standing Bldg Bedrooms: Bathrooms: Garage: Basement:

Sq Ft: 2,310 Lot Type: Lot Size: 3,150 SF Year Built: 1922 Taxes: $

Property Description

This is a wonderful opportunity to own an investment property in the heart of the Bryant neighborhood, with quality paying tenants in place. Should be a solid long-term hold performing investment. This AFFORDABLE Minneapolis Commercial property is presently divided into 2 separate retail office units, complete with separate utilities, thus allowing for triple net leases, with super low maintenance costs. The rents will continue to increase annually improving on the present cap rate of 5%.

Bryant neighborhood is in south Minneapolis and is bound on the north by 38th Street East, on the west by Interstate 35W, on the south by 42nd Street East and on the east by Chicago Avenue. The neighborhood was named for William Cullen Bryant, a great American poet who lived from 1794 to 1878. The neighborhood area was incorporated by the city in 1887, and by 1930 it was fully developed. Today it is a residential neighborhood with mostly single-family dwellings, interspersed with multifamily buildings mainly in its northwestern quadrant.

Property Features

Highlights • Separate utilities • NNN Leases • Right on several bus lines • Busy intersection of 38th and 4th • Bryant Neighborhood

Financial Summary • Scheduled Gross Income: $1,860,000 • Net Operating Income: $9,995

Property Location Map

345 E 38th Street, Minneapolis      View Larger Map


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