1405 E Lake Street, Minneapolis, MN 55407 (MLS# 7061743)

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
Foundation Size: 4255
For Sale or Lease: For Sale
Acres: 0.85
Lot Dimensions: Irregular
Assessment Pending: Unknown
Garage Stalls: 0

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

Contract Information

Contingency: None
ListPrice: 3200000
Owner is an Agent?: No
Auction?: No

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

Assessments

Tax With Assessments: 36591.98
Assessment Balance: 0

Building Information

Building Finished SqFt: 4255

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 02
Township#: 28

Sale Options

Sale Includes: Building, Business Assets, Business, Fixture/Equipment, Inventory, Land

Unit Details

Total Units: 2

Office/Member Info

Association: SPAAR

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: Yes

Construction Status

Previously Owned: Yes

Exterior

Wood: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Forced Air: Yes

Lot Description

Public Transit (w/in 6 blks): Yes
Tree Coverage - Light: Yes

Parking Characteristics

Parking Lot: Yes
Paved Lot: Yes

Pool Description

None: Yes

Road Frontage

City Street: Yes
Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes

Roof

Flat: Yes

Sewer

City Sewer/Connected: Yes

Stories

One: Yes

Water

City Water/Connected: Yes

On Site Utilities

Electric Common: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Business Opportunity: Yes
Mixed Use: Yes
Retail/Shopping Center: Yes

Current Use

Laundromat: Yes
Restaurant: Yes

Loan Terms

Cash: Yes
Conventional: Yes