UNDER CONTRACT - Reduced Sale Price - $374,900 - 2,385 SF Building For Sale in the Heart of Northeast Minneapolis!

1231 Washington Street Northeast Minneapolis, MN 55413

1231 Washington Street Northeast, Minneapolis, MN, 55413
1231 Washington Street Northeast, Minneapolis, MN, 55413
Property Type:
Free Standing Building
Last Verified:
Aug 28, 2020

Reduced Sale Price - 2,385 SF Building For Sale in the Heart of Northeast Minneapolis!

1231 Washington Street NE is an attractive one-story building in the vibrant Arts District of Northeast Minneapolis. The property has been home of Sosin & Sosin Gallery for two decades and is one of the first artist studios in Northeast.

The building has an open layout with plenty of natural light and beautiful wood floors. The property offers a full kitchen, bathroom with shower as well as a finished basement. The building is well maintained, has updated mechanicals and has a two-car garage for parking or additional workspace.

This offering has excellent potential for an owner/user to use the building in its current use. The property offers a variety of uses with its R2B zoning and a nonconforming use (commercial retail) in place.

Highlights and Features:
Year Built: 1937
Parcel Size: 0.7 acres (3,049 sf)
PID: 14-029-24-13-0080
1 story
Attractive and updated building
Parking: 2 car garage and plenty of street parking available
Easy access to I-94 and I-35W
Vibrant NE Minneapolis neighborhood
Close proximity to shops, restaurants, arts and cultural organizations

Demographics and Traffic Counts:
2018 Average Household Population: 1 mile - 12,686, 3 miles - 92,250 and 5 miles - 273,678
2018 Average Household Income: 1 mile - $54,087, 3 miles - $50,752 and 5 miles - $54,507
Traffic Counts: 15,400 vpd on Broadway St NE, 3,450 vpd on Washington Avenue NE, 3,800 vpd on 13th Avenue NE

Building For Sale: 2,385 sf
2020 Tax: $6,146.06
Sale Price of $374,900.00

Map of 1231 Washington Street Northeast, Minneapolis, MN, 55413

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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.