Approximately 1,024 SF to 6,742 SF Retail/Restaurant Space For Lease

1242-1260 Hennepin Avenue Minneapolis, MN 55402

1242-1260 Hennepin Avenue, Minneapolis, MN, 55402
1242-1260 Hennepin Avenue, Minneapolis, MN, 55402
Property Type:
Street Retail
Cap Rate:
Last Verified:
Apr 12, 2024

Approximately 1,024 SF to 6,742 SF Retail/Restaurant Space For Lease HIGHLIGHTS AND FEATURES: • Join co-tenants VIP Hair & Nail Salon, Alterations Express, Subway, and New Horizon Academy • Part of a mixed-use project with 727 apartment units • Covered contract parking for employees available • Free customer parking available in the rear of the building • Easy access to I-394, I-94 and I-35 DEMOGRAPHICS AND TRAFFIC COUNTS: • Average Population: 1 mile - 15,453, 3 miles - 150,107 and 5 miles - 315,996 • Average Household Income: 1 mile - $54,158, 3 miles - $52,828 and 5 miles - $57,432 • Hennepin Avenue - 15,000 vpd, N 12th St - 9,900 vpd, and N 13th St - 9,400 vpd • Walk Score: 96 • Transit Score: 82 • Bike Score: 91 SPACE AVAILABLE: • Suite 1242: 3,474 sf (2nd generation restaurant space with potential to add patio) • Suite 1244/A: 3,268 sf (former medical space) • Suite 1256/E: 1,024 sf (available 1/31/24) • Suite 1258/F: 1,557 sf • Lease Rate: $19.00 net • 2024 CAM: $6.84 psf (includes gas) and Tax: $1.76 psf

Map of 1242-1260 Hennepin Avenue, Minneapolis, MN, 55402

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.