2930 N 2nd Street, Minneapolis, MN 55411 (MLS# 7077168)

Overview

Description

This well-maintained, multi-tenant industrial building offers an exceptional investment opportunity for buyers seeking both stability and strong long-term returns. The property features a diverse tenant mix across warehouse, light manufacturing, and flex spaces — including some Fortune 500 tenants and a commercial kitchen operator who has invested over $2 million in a state-of-the-art facility — providing consistent cash flow and reduced vacancy risk. Zoning allows for a wide range of uses, enhancing long-term leasing flexibility and tenant appeal. Currently, the property is leased at below-market rental rates, offering meaningful upside as leases renew or are restructured to market levels. Recent capital improvements and proactive management have positioned the asset for continued performance with minimal near-term maintenance. Strategically located just minutes from Downtown Minneapolis with excellent access to I-94, I-394, and Highway 55, this property combines strong fundament ... (Read more)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1981
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Industrial
Foundation Size: 155250
For Sale or Lease: For Sale
Acres: 6.42
Lot Dimensions: x
Assessment Pending: No
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: Other Assumable Loan: Not Assumable CMU Style: Industrial; Other Construction Status: Previously Owned Current Use: Business Service; Commercial; Industrial; Office; Professional Service; Warehouse Exterior: Other Foundation: Other Fuel: Other Heating: Other Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Separate Parking Characteristics: Parking Lot Potential Use: Office; Warehouse Sewer: Other Water: Other

Contract Information

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

Location Tax and Other Information

House Number: 2930
Street Direction Prefix: N
Street Name: 2nd
Street Suffix: Street
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55411
Complex/Dev/Subdivision: Morrisons Add To North

Assessments

Tax With Assessments: 361086
Assessment Balance: 0

Building Information

Building Finished SqFt: 155250
Building SqFt: 155250
Ceiling Height: Over 20

More Information

Income and Expenses

Annual Gross Expenses: 600527
Annual Gross Income: 1576216
Annual Net Income: 975689

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 10
Township#: 29

Sale Options

Sale Includes: Building, Land, Leases

Unit Details

Total Units: 8

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: MORRISONS ADDN TO NORTH MPLS BLKS 21 AND 29 INCL ADJ VAC 29TH AVE N
Listing City: Minneapolis
Map Page: 92
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 2802
Property ID Number: 1002924310099
Tax Year: 2025
Tax Amount: 361086
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: This well-maintained, multi-tenant industrial building offers an exceptional investment opportunity for buyers seeking both stability and strong long-term returns. The property features a diverse tenant mix across warehouse, light manufacturing, and flex spaces — including some Fortune 500 tenants and a commercial kitchen operator who has invested over $2 million in a state-of-the-art facility — providing consistent cash flow and reduced vacancy risk. Zoning allows for a wide range of uses, enhancing long-term leasing flexibility and tenant appeal. Currently, the property is leased at below-market rental rates, offering meaningful upside as leases renew or are restructured to market levels. Recent capital improvements and proactive management have positioned the asset for continued performance with minimal near-term maintenance. Strategically located just minutes from Downtown Minneapolis with excellent access to I-94, I-394, and Highway 55, this property combines strong fundamentals, steady income, and long-term growth potential — a compelling opportunity for investors seeking a durable and well-located Twin Cities industrial asset.
Directions: 2800 North 2nd Street, Minneapolis, MN 55411

Accessible

Other: Yes

Assumable Loan

Not Assumable: Yes

Construction Status

Previously Owned: Yes

Exterior

Other: Yes

Foundation

Other: Yes

Fuel

Other: Yes

Heating

Other: Yes

Parking Characteristics

Parking Lot: Yes

Sewer

Other: Yes

Water

Other: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes

CMU Style

Industrial: Yes
Other: Yes

Current Use

Business Service: Yes
Commercial: Yes
Industrial: Yes
Office: Yes
Professional Service: Yes
Warehouse: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Potential Use

Office: Yes
Warehouse: Yes