$3,200,000
Minneapolis, MN 55407
MLS# 7061743
1 / 32
Property Description
Positioned along the vibrant East Lake Street corridor, this mixed-use commercial property offers a compelling blend of stability and future potential. Anchored by a high-volume laundromat and an operating restaurant, the property generates strong, diversified income. Set on one of the largest parcels in the immediate area, the site presents significant upside through expansion or redevelopment. Its prominent location benefits from consistent traffic, strong neighborhood demand, and proximity to key Minneapolis destinations. A rare chance to secure a sizable footprint in a high-demand urban corridor.
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Active
Current Price: $3,200,000
Contingency: None
ListPrice: 3200000
List Date: 2026-04-28
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 21
Waterfront Present: No
Year Built: 1981
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Dimensions: Irregular
Acres: 0.85
Foundation Size: 4255
Garage Stalls: 0
For Sale or Lease: For Sale
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: BLOCK 002 WILLIAMS ADDN TO MPLS LOTS 14 THRU 20 INCL BLK 2 WILLIAM'S ADDN TO MPLS AND E 42 FT OF LOTS 1 2 AND 3 BLK 1 L AND R'S SUBDIVISIONS IN LAWRENCE AND REEVES OUTLOTS INCL THAT PART OF ADJ VAC 14TH AVE S
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 2040
Property ID Number: 0202824120257
Tax Year: 2026
Tax Amount: 36591.98
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Positioned along the vibrant East Lake Street corridor, this mixed-use commercial property offers a compelling blend of stability and future potential. Anchored by a high-volume laundromat and an operating restaurant, the property generates strong, diversified income.
Set on one of the largest parcels in the immediate area, the site presents significant upside through expansion or redevelopment. Its prominent location benefits from consistent traffic, strong neighborhood demand, and proximity to key Minneapolis destinations.
A rare chance to secure a sizable footprint in a high-demand urban corridor.
Directions: Hwy 55 S, W onto E Lake St
Accessible
No Stairs External: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 36591.98
Building Information
Building Finished SqFt: 4255
Construction Status
Previously Owned: 1
Exterior
Wood: 1
Foundation
Concrete Block: 1
Fuel
Electric: 1
Natural Gas: 1
Heating
Forced Air: 1
Lease Details
Land Leased: Not Applicable
Lot Description
Public Transit (w/in 6 blks): 1
Tree Coverage - Light: 1
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Parking Lot: 1
Paved Lot: 1
Pool Description
None: 1
Public Survey Info
Range#: 24
Section#: 02
Township#: 28
Road Frontage
City Street: 1
Curbs: 1
Paved Streets: 1
Sidewalks: 1
Roof
Flat: 1
Sale Options
Sale Includes: Building, Business Assets, Business, Fixture/Equipment, Inventory, Land
Sewer
City Sewer/Connected: 1
Stories
One: 1
Unit Details
Total Units: 2
Water
City Water/Connected: 1
On Site Utilities
Electric Common: 1
Heating Common: 1
Hot Water Common: 1
CMU Style
Business Opportunity: 1
Mixed Use: 1
Retail/Shopping Center: 1
Current Use
Laundromat: 1
Restaurant: 1
Loan Terms
Cash: 1
Conventional: 1
Location Tax and Other Information
House Number: 1405
Street Direction Prefix: E
Street Name: Lake
Street Suffix: Street
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Williams Add
Property Features
Accessible: No Stairs External
CMU Style: Business Opportunity; Mixed Use; Retail/Shopping Center
Construction Status: Previously Owned
Current Use: Laundromat; Restaurant
Exterior: Wood
Foundation: Concrete Block
Fuel: Electric; Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional
Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Parking Characteristics: Parking Lot; Paved Lot
Pool Description: None
Road Frontage: City Street; Curbs; Paved Streets; Sidewalks
Roof: Flat
Sewer: City Sewer/Connected
Stories: One
Water: City Water/Connected
Listing Office: Compass
Last Updated: May - 01 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.