3659 3rd Street NE Minneapolis, MN $ 499,900
3659 3rd Street NE
$ 499,900
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3659 3rd Street NE

Minneapolis, MN, 55418
$ 499,900
Baths0.0 Sq 3,438

Monthly Estimate*

$ 3,492

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Studio

Commercial Property for sale in Minneapolis, MN

for $499,900. This 3,438 square foot building was built in 1926 on a lot size of 0.18.

Mixed-use income generating investment or live/work property with a single family home & commercial building in the heart of NE MPLS, Completely renovated, spacious & open floor plan in the commercial building with 2000 SF & large unfinished basement, currently being used as a fitness studio by the long term tenants. Beautiful & durable wood floors, large windows, updated 1/2 bath & kitchen. The story & a half single family home has 1440 finished sq. ft, updated kitchen with new cabinets, two BRs on each floor, two remodeled baths, & a full unfinished basement. One car garage & additional parking spaces. New concrete patio. Per the previous owner, roof was replaced in 2017, newer furnace systems in both properties including duct replacement, central air in the commercial space and portable A/C unit in the house. Fresh interior & exterior paint, Same long term tenants occupy the house and the commercial space. Great income generating property at 7% cap rate.

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Commercial Active

Price

$ 499,900

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 7,059

Style

Lot Size

0.18

Year Built

1926

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6497976

Features
General
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air Window Unit(s)
Utilities Electric Common Heating Separate Hot Water Common
Roof Age 8 Years or Less Asphalt Flat Pitched Tar/Gravel
Appliances Dishwasher Disposal Dryer Exhaust Fan Gas Water Heater Range Refrigerator Washer
Garage Spaces 1
Construction Materials Metal Siding Stucco
Year Built 1926
Tenant Pays Cable TV Electricity Fuel Grounds Care Snow Removal
Levels One
Tax Year 2024
Current Use Commercial Residential
Gross Income 49800
Accessibility None
County Hennepin
Net Operating Income 35333
Operating Expense 14467
Insurance Expense 3600
Property Type Commercial Sale
Association Amenities Common Garden Other Patio
Contingency None
Subdivision Name Columbia Heights Add
Directions 694 to University Ave or 47 S to 37th Ave West to property.
City Minneapolis
Buyer Agent Compensation 2.50
High School District Minneapolis
Zoning Description Business/Commercial
Total Units 2
Street Name 3rd
Land Lease Y/N N
Tax Annual Amount 7059
Electric Expense 0
Fuel Expense 0
Trash Expense 528
Water Sewer Expense 2280
Additional Parcels Y/N N
Days on Market 2
Standard Status Active
Lender Owned No
Amenities Unit Cable Hardwood Floors Kitchen Window Natural Woodwork Patio Security System Tile Floors Washer/Dryer Hookup
Buyer Agent Compensation Type %
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Interior
Basement Block Drain Tiled Drainage System Full Partially Finished Storage Space Sump Pump Unfinished
Basement (Y/N) Y
Street Suffix Street
Ceiling Height 8-10
Foundation Dimensions 54x37 37x26
Fuel Natural Gas
Garage Dimensions 20x14
Garage Door Width 7
Garage Square Feet 280
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Exterior
Parking Features Detached Concrete
Lot Features Public Transit (w/in 6 blks) Corner Lot Tree Coverage - Medium
Water Source City Water/Connected
Inclusions Building Land
Lot Size Area 0.18
Building Area Total 3438
Lot Dimensions 60x128
Lot Size Units Acres
Foundation Area 3000
Road Frontage Type City Street Paved Streets Sidewalks
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 3659
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* Excluded Features
List By
Edina Realty, Inc.

Broker

sylvazoraqi@edinarealty.com

Email

Affordability Calculator

$4,080
Per Month
86%
14%
0%
Monthly Principal & Interest
$3,492
Monthly Property Taxes
$588
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW!
Nearby
708364 Elementary School
708967 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/4/2024$499,900 Listed Price

Map


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3659 3rd Street NE, Minneapolis, MN, 55418 is a Commercial Property for sale at $499,900 with 3,438 sqft and a lot size of 0.18. 3659 3rd Street NE is a studio with 0.0 baths and was built in 1926. The property's zip code is 55418 which is in Minneapolis, MN