$2,600,000
Minneapolis, MN 55408
MLS# 7034669
1 / 6
Property Description
*Fully leased and back on market 12/1/2025* EXECUTIVE SUMMARY | FULLY OCCUPIED UPTOWN RETAIL INVESTMENT Grand 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 HIGHLIGHTS Exceptional 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 DETAILS Address: 1211 Lagoon Avenue, Minneapolis, MN 55408 Gross 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.
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Active
Current Price: $2,600,000
Contingency: None
ListPrice: 2600000
List Date: 2026-03-10
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 0
Owner Occupied: No
Waterfront Present: No
Year Built: 2007
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Dimensions: 114.5 x 114.5
Acres: 0.53
Foundation Size: 114
Garage Stalls: 0
For Sale or Lease: For Sale
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: REG. LAND SURVEY NO. 1782 TRACT C
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
County Abbreviation: 2930 Emerson No.'s 1
Zip Plus 4: 2064
Property ID Number: 3302924430144
Tax Year: 2024
Tax Amount: 78350
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: *Fully leased and back on market 12/1/2025*
EXECUTIVE SUMMARY | FULLY OCCUPIED UPTOWN RETAIL INVESTMENT
Grand 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 HIGHLIGHTS
Exceptional 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 DETAILS
Address: 1211 Lagoon Avenue, Minneapolis, MN 55408
Gross 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.
Directions: West on Lake Street until it becomes Lagoon Ave. Property on Left (at Emerson and Lagoon)
Accessible
Doors 36"+: 1
Grab Bars In Bathroom: 1
Hallways 42"+: 1
No Stairs Internal: 1
Partially Wheelchair: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 80039
Building Information
Building Finished SqFt: 13099
Building SqFt: 13099
Ceiling Height: 11-15
Construction Status
Previously Owned: 1
Exterior
Other: 1
Foundation
Concrete Block: 1
Fuel
Natural Gas: 1
Heating
Forced Air: 1
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
More Parking Offsite for Fee: 1
Public Survey Info
Range#: 24
Section#: 33
Township#: 29
Rental License Type
Standard: 1
Sale Options
Sale Includes: Building, Leases
Sewer
City Sewer/Connected: 1
Unit Details
Total Units: 5
Water
City Water/Connected: 1
Income and Expenses
Annual Gross Expenses: 106760
Annual Gross Income: 348736
Annual Net Income: 241975
Tenant Pays
All Utilities: 1
Common Area Maintenance: 1
Taxes: 1
On Site Utilities
Electric Common: 1
Electric Separate: 1
Heating Common: 1
Heating Separate: 1
Hot Water Common: 1
Hot Water Separate: 1
CMU Style
Apartments and Retail: 1
Current Use
Commercial: 1
Professional Service: 1
Retail: 1
Loan Terms
Cash: 1
Conventional: 1
Location Tax and Other Information
House Number: 2938
Street Name: Emerson
Street Suffix: Avenue
Street Direction Suffix: S
Unit Number: 2930 Emerson No.'s 101 & 102;
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Property Features
Accessible: Doors 36"+; Grab Bars In Bathroom; Hallways 42"+; No Stairs Internal; Partially Wheelchair
CMU Style: Apartments and Retail
Construction Status: Previously Owned
Current Use: Commercial; Professional Service; Retail
Exterior: Other
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional
On Site Utilities: Electric Common; Electric Separate; Heating Common; Heating Separate; Hot Water Common; Hot Water Separate
Parking Characteristics: More Parking Offsite for Fee
Rental License Type: Standard
Sewer: City Sewer/Connected
Tenant Pays: All Utilities; Common Area Maintenance; Taxes
Water: City Water/Connected
Listing Office: Grand Real Estate Advisors
Last Updated: March - 18 - 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.
