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Neal Anderson, Managing Broker
(612) 865-5955
Counselor Realty, Inc |
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2938 Emerson Avenue S, Unit 2930 Emers, Minneapolis, MN 55408
STATUS: Active
PROPERTY TYPE: Commercial - Retail
SCHOOL: Minneapolis
Property Description
*Fully leased and back on market 12/1/2025*EXECUTIVE SUMMARY | FULLY OCCUPIED UPTOWN RETAIL INVESTMENTGrand Real Estate Advisors is proud to present Lumen on Lagoon, a prime street-level retail condominium opportunity in the heart of Uptown Minneapolis. This modern, fully occupied property offers an exceptional blend of stable income and immediate rent upside, located directly beneath four floors of owner-occupied residential units in a dynamic mixed-use development.INVESTMENT HIGHLIGHTSExceptional Cap Rate: Offering a strong 9.3% In-Place Cap Rate based on an NOI of $241,975.80 (2026), providing immediate, stable cash flow.Strong Anchor Tenancy: Over 60% of the GLA is secured by long-term leases with established national and regional tenants, including CorePower Yoga (through 2032) and SOFACLUB Cannabis (through 2036).Immediate Value-Add Opportunity: 57 FIT occupies 25% of the GLA and is currently paying below market rates. The lease includes a clause allowing the new Owner to terminate tenancy by providing 90 days written notice, providing the flexibility to immediately re-tenant the space at higher market rates. Alternatively, an owner-user could occupy this portion of the building.Affluent & Educated Demographics: Situated in a thriving, highly walkable area known for its strong median household income and high concentration of young professionals who support the surrounding eclectic dining, boutique shopping, and service-oriented businesses.PROPERTY DETAILSAddress: 1211 Lagoon Avenue, Minneapolis, MN 55408Gross Square Footage: 13,099 SF (Entire first floor; structured as 3 PID's - Condos)Year Built: 2006 (Modern construction)This is an unparalleled opportunity to acquire a stable, high-performing retail asset in one of Minneapolis' most energetic and consistently sought-after neighborhoods.Contact Broker for confidential Offering Memorandum and full Rent Roll details.
Property Features
Property Type: Commercial - Retail Fuel Type: Natural Gas Heating: Forced Air Lot Size: 0.54 Acres Taxes: $78,350 Year Built: 2007
Feature Descriptions
Current Use: Commercial, Professional Service, Retail
Days on Site: 38
Foundation Size: 114
Handicap Accessible: Doors 36+, Grab Bars In Bathroom, Hallways 42+, No Stairs Internal, Partially Wheelchair
Lot Dimensions: 114.5 x 114.5
Parcel#: 3302924430144
Parking: On-Street Parking Only, More Parking Offsite for Fee
Sale Includes: Building, Leases
Sewer: City Sewer/Connected
Tenant Expenses: All Utilities, Common Area Maintenance, Taxes
Units: 5
Utilities: Electric Common, Electric Separate, Heating Common, Heating Separate, Hot Water Common, Hot Water Separate
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Agency Name: Grand Real Estate Advisors
Agency Phone: 612-875-3858
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2938 Emerson Avenue S, Unit 2930 Emers | MLS# 7034669
This commercial property located at 2938 Emerson Avenue S, Unit 2930 Emers, Minneapolis, MN 55408 is currently listed for sale with an asking price of $2,600,000. Emerson Avenue S, Unit 2930 Emers is located within the Minneapolis school district. Search Minneapolis real estate on nanderson.counselorrealty.com today.