OWNER/USER OPPORTUNITY - OFFICE/RETAIL PROPERTY

11 10th Avenue S Hopkins, MN 55343

11 10th Avenue S, Hopkins, MN, 55343
11 10th Avenue S, Hopkins, MN, 55343
FOR SALE
Property Type:
Multi Tenant Office
Amount:
Please Call Broker for Price

Cap Rate:
0.00%
Last Verified:
Mar 15, 2024
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OWNER/USER OPPORTUNITY - OFFICE/RETAIL PROPERTY FOR SALE Highlights and Features: Fully leased property Potential for an Owner/User to occupy 1,413 SF on the main floor Updated and well maintained Unique architectural details Year Built: 1941 In the heart of Hopkins, 1 block off Main Street Floors: 3 Parking: Free city lot adjacent to the building Zoning: B-2 SWLRT has three planned stations in Hopkins The downtown Hopkins station will be connected to Mainstreet by 8th Avenue Ovation Hopkins, a mixed-use development, will be opening in the fall of 2024 Current tenants: Hears To U Audiology, Twist Sales, Amare/Movement with Love, Novo Chiropractic Area tenants: Brasa, K’kinaco-Nikkei & Pisco Bar, Hoagie’s, Mainstreet Bar & Grill, Chipotle, The Vine Room, Cam Ranh Bay, LTD Brewing Co, A to Z Creamery, Pub 819, Nacho’s Mexican Grill, Wild Boar Bar & Grill, Thirty Bales, Bear Cave Brewing, Nautical Bowls, Cream and Amber, Chicky Choco Pop and more For Sale: 5,414 sf (1,413 sf available with a cathedral ceiling and hardwood floors) 2024 Tax: $24,979.48 ($4.61 psf) Sale Price: $1,300,000 Lot Size: .14 acres (6,098 sf) Demographics and Traffic Counts: Average Household Population: 1 mile - 8,009, 3 miles - 44,811 and 5 miles - 112,203 Average Household Income: 1 mile - $65,432, 3 miles - $82,376 and 5 miles - $95,112 Traffic Counts: Excelsior Blvd: 19,660 vpd, and Mainstreet: 4,629

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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.