3318 E Lake Street, Minneapolis, MN 55406 (MLS# 6561135)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1926
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 2320
For Sale or Lease: For Sale
Acres: 0.18
Lot Dimensions: 92.32x86
Assessment Pending: No
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: None Amenities Shared: Other Appliances: Range; Refrigerator Basement: Concrete Block CMU Style: Apartments and Retail; Apartments/Multi Family; Freestanding; Low Rise; Mixed Use; Office Construction Materials: Block; Brick; Concrete Construction Status: Previously Owned Current Use: Commercial; Manufacturing; Office; Other; Professional Service; Residential; Warehouse Existing Financing: Free and Clear Exterior: Block; Stucco Fencing: None Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Boiler Loan Terms: Cash; Contract for Deed; Conventional Lot Description: Public Transit (w/in 6 blks) Miscellaneous Information: Delivery Door; Loading Dock On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: Electricity; Fuel; Insurance; Lawn; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot; Other Pool Description: None Rental License Type: Standard Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Rubber Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV; Electricity Wall Description: Concrete/Block; Drywall; Finished; Unfinished Water: City Water/Connected

Contract Information

Off Market Date: 2026-05-09
Contingency: None
ListPrice: 404000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 3318
Street Direction Prefix: E
Street Name: Lake
Street Suffix: Street
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55406
Complex/Dev/Subdivision: South Minneapolis Add

Assessments

Tax With Assessments: 12011
Assessment Balance: 0

Building Information

Building Finished SqFt: 4066
Building SqFt: 4319

More Information

Income and Expenses

Annual Gross Income: 55140
Total Annual Expenses: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
Delivery Door: Yes
Loading Dock: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 23
Section#: 31
Township#: 29

Sale Options

Sale Includes: Building, Fixture/Equipment

Unit 2

No. of 2 Bedroom Units: Yes

Unit Details

Total Units: 5

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: BLOCK 006 SOUTH MINNEAPOLIS ADDN TO MPLS W 92 32/100 FT EX PART TAKEN FOR ST LOTS 11 AND 12
Listing City: Minneapolis
Map Page: 107
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 3232
Property ID Number: 3102923330120
Tax Year: 2025
Tax Amount: 11008
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: You do not want to miss this great investment and cash flowing opportunity! Nicely located in the Longfellow neighborhood of Minneapolis and close to several local amenities, Easy access to major roadways and public transportation. This beauty consists of four commercial spaces and one 2 bed/1 bath unit, Many of the units have been rented with long term tenants, 11 Parking spots and on-street parking too! 1 Loading Dock for each lower space. Cosmetic TLC needed. Seller Financing Available.
Directions: Heading northeast on MN-55 / Hiawatha Ave toward E 33rd St, Take the ramp on the right for E Lake St/ County -3 and head toward E Lake St, Turn right onto E Lake St/ County Hwy-3, Arrive at 3318 E Lake St on your left.

Accessible

None: Yes

Air Conditioning

None: Yes

Amenities Shared

Other: Yes

Appliances

Range: Yes
Refrigerator: Yes

Basement

Concrete Block: Yes

Construction Materials

Block: Yes
Brick: Yes
Concrete: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Free and Clear: Yes

Exterior

Block: Yes
Stucco: Yes

Fencing

None: Yes

Foundation

Concrete Block: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Boiler: Yes

Lot Description

Public Transit (w/in 6 blks): Yes

Owner Pays

Electricity: Yes
Fuel: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Paved Lot: Yes
Other: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes
Storm Sewer: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Rubber: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Wall Description

Concrete/Block: Yes
Drywall: Yes
Finished: Yes
Unfinished: Yes

Water

City Water/Connected: Yes

No. of Ranges

One: Yes

No. of Refrigerators

One: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes

On Site Utilities

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

CMU Style

Apartments and Retail: Yes
Apartments/Multi Family: Yes
Freestanding: Yes
Low Rise: Yes
Mixed Use: Yes
Office: Yes

Current Use

Commercial: Yes
Manufacturing: Yes
Office: Yes
Other: Yes
Professional Service: Yes
Residential: Yes
Warehouse: Yes

Loan Terms

Cash: Yes
Contract for Deed: Yes
Conventional: Yes