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Multi Tenant Investment

$2,600,000

3050 Coon Rapids Blvd NW, Minneapolis, MN 55433

Active
Last Updated: 09/04/2025

31,500 sqft

Building Size

1.8 acres

Lot Area

Details:
Building Size:    31,500 sqft
Lot Area:    1.8 acres
Occupancy:    100%
Units:    10
Year Built:    1978
Floors:    1
Parking Spots:    92
Highlights:
  • Large multi-tenant commercial building
  • Zoning allows Automotive & Office Warehouse uses through CUP
  • Low rental rates through out the building with room for future Income Upside
  • Solid tenants with good mixture of uses
  • Major renovations completed recently by the owners, around 750k spent
Description:

This large multi-tenant commercial building presents a compelling investment opportunity, particularly for buyers seeking value-add potential with built-in stability. The property benefits from zoning that allows for both automotive and office warehouse uses through a Conditional Use Permit (CUP), which greatly expands the scope of allowable tenants and maximizes long-term leasing flexibility.

Currently, the building is leased at below-market rental rates, leaving significant room for future income upside as leases turn over or are renegotiated. The tenant base is composed of a solid mix of occupants from various industries, providing diversification and reducing the risk associated with vacancy or market shifts.

In addition to its favorable zoning and tenant structure, the property has recently undergone major renovations totaling approximately $750,000. These capital improvements were completed by the current ownership and address many of the typical deferred maintenance items, positioning the building for reduced operational costs in the near term and increased attractiveness to new tenants.

Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property.

Coon Rapids, Minnesota – Located just north of Minneapolis, Coon Rapids offers a perfect blend of suburban comfort and urban convenience. The city features excellent schools, diverse shopping and dining, beautiful parks, and easy access to major highways and transit. With a strong community atmosphere and steady growth, Coon Rapids is an attractive choice for families, professionals, and investors alike.

Forced Air / Heaters & AC

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