6621 Penn Avenue S, Minneapolis, MN 55423 (MLS# 7041182)

General Property Information

Lot Measurement: Square Feet
Multiple PIDs?: No
Other Parking Spaces: 25
Owner Occupied: No
Waterfront Present: No
Year Built: 1952
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Size SqFt: 23000
Foundation Size: 7000
Power Company: Xcel Energy
For Sale or Lease: For Sale
Lot Dimensions: 200x115
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Central Air Basement: None CMU Style: Retail/Shopping Center Construction Materials: Block; Brick; Frame Construction Status: Previously Owned Current Use: Business Service; Commercial; Food Service; Restaurant; Retail Exterior: Block; Brick/Stone Flooring: Concrete Slab Foundation: Slab Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Contract/Deed w/Assum; Special Funding; Trade Location Description: Strip Center Lock Box Type: None Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light Miscellaneous Information: 2+ Lavatories; Exterior Lighting On Site Utilities: Electric Separate; Heating Separate; Hot Water Common; Hot Water Separate Overhead Door Clearance: 0-9 Feet Parking Characteristics: Paved Lot Rent Rate per Foot: Net Road Frontage: County Road Roof: Age 8 Years or Less; Flat; Other Sewer: City Sewer/Connected Stories: One Tenant Pays: All Utilities; Common Area Maintenance; Escalation; Gas; Heat; Hot Water; Percentage Rent Topography: Level Wall Description: Concrete/Block; Drywall; Finished Water: City Water/Connected Window Features: Display Window(s)

Contract Information

Contingency: None
ListPrice: 2000000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 6621
Street Name: Penn
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55423
Complex/Dev/Subdivision: Fairwood Park

Assessments

Assessment Balance: 36000
Tax With Assessments: 34735

Basement

Foundation Dimensions: 140x50
None: Yes

More Information

Building Information

Building Finished SqFt: 7000
Ceiling Height: 11-15

Income and Expenses

Annual Gross Expenses: 62500
Annual Gross Income: 185808
Annual Net Income: 123308

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
2+ Lavatories: Yes
Exterior Lighting: Yes

Ownership

Fractional Ownership: No

Public Survey Info

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

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: Yes
Monthly Rent: 2600
Half Baths: Yes
Total Bathrooms: Yes
Level: Main Level
Leased?: Yes
Lease Expiration Date: 3030-03-01

Unit 2

Half Baths: Yes
Lease Expiration Date: 2026-03-30
Leased?: Yes
Monthly Rent: 2150
Total Bathrooms: Yes
Unit Number: 2

Unit 3

Half Baths: 2
Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 3000
Total Bathrooms: 2
Unit Number: 3

Unit 4

Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 3000
Unit Number: 4

Unit 5

Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 500
Unit Number: 5

Unit 6

Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 950
Unit Number: 6

Unit 7

Lease Expiration Date: 2026-03-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1100
Unit Number: 7

Unit 8

Half Baths: Yes
Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 500
Total Bathrooms: Yes
Unit Number: 8

Unit 9

Lease Expiration Date: 3030-03-01
Leased?: Yes
Level: Main Level
Monthly Rent: 2100
Unit Number: 9

Unit Details

Total Units: 9

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: BLOCK 006 FAIRWOOD PARK N 103 FT OF LOT 7 AND S 80 FT OF LOT 8 EX HWY
Listing City: Richfield
Map Page: 120
Municipality: Richfield
School District: Richfield
School District Phone: 612-798-6010
Zip Plus 4: 1402
Property ID Number: 2802824320063
Tax Year: 2025
Tax Amount: 36000
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: NNN. Richfield strip center. 4 units completely remodeled 2025. New roof 2024. 500K put into this property. Tattoo, Shoe repair, Cannabis dispensary, Vietnamese Coffee shop, Hair salon, Ice Cream parlor, Vietnamese restaurant. 100% occupied. 7 tenants over 9 bays. 8 bathrooms. 2 in common area behind south half of bldg.
Directions: Penn Ave and 66th St West

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Construction Materials

Block: Yes
Brick: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Block: Yes
Brick/Stone: Yes

Flooring

Concrete Slab: Yes

Foundation

Slab: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Lock Box Type

None: Yes

Lot Description

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

Parking Characteristics

Paved Lot: Yes

Road Frontage

County Road: Yes

Roof

Age 8 Years or Less: Yes
Flat: Yes
Other: Yes

Sewer

City Sewer/Connected: Yes

Stories

One: Yes

Topography

Level: Yes

Wall Description

Concrete/Block: Yes
Drywall: Yes
Finished: Yes

Water

City Water/Connected: Yes

Window Features

Display Window(s): Yes

Tenant Pays

All Utilities: Yes
Common Area Maintenance: Yes
Escalation: Yes
Gas: Yes
Heat: Yes
Hot Water: Yes
Percentage Rent: Yes

On Site Utilities

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

CMU Style

Retail/Shopping Center: Yes

Current Use

Business Service: Yes
Commercial: Yes
Food Service: Yes
Restaurant: Yes
Retail: Yes

Loan Terms

Cash: Yes
Contract/Deed w/Assum: Yes
Special Funding: Yes
Trade: Yes

Location Description

Strip Center: Yes

Overhead Door Clearance

0-9 Feet: Yes

Rent Rate per Foot

Net: Yes