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Pending
$895,000
/mo   Edit
MLS# 5252366
4601 Lyndale Avenue N
Minneapolis, MN 55412
Commercial
Built 1912
0.27 acres
Minneapolis schools
Info: 763-576-8286
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    Description:   Confidential Listing. Turnkey bar, restaurant, & building available FOR SALE. Price includes all FF&E. Price includes new ADA restrooms, & other work, being done for $120, 000 now. 2018 gross revenues of $1, 154, 717 w/ an NOI of approximately $208, 947 (expenses including $83, 326 in voluntary accounting & security personnel costs). Expected NOI of approximately $242, 000 in 2019. $50, 000 in recent upgrades. New coolers/freezers, new stoves, newer chairs & tables, new security/camera system & metal detector. Full kitchen. Currently only liquor license north of Broadway Ave N in the City of Minneapolis. Located within walking distance to the 48 acre Upper Terminal Harbor redevelopment project on the Mississippi River. Great potential to increase food sales at this location. Outside patio. 953 sf apartment unit upstairs w/ separate entrance not currently being rented out, that with some renovation, can be rented out.
    List Price: $895,000
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Pending
    Contingency: None
    Year Built: 1912
    Neighborhood/Area: Lind - Bohanon
    City: Minneapolis
    Zip Code: 55412

    Interior

    Building Fin Sq Ft: 4,148 ft²

    Exterior

    Heating System: Forced Air
    Foundation Size: 4,148 ft²
    Handicap Accessible: Wheelchair Ramp
    Exterior Material: Wood
    Garage Spaces: 0
    Other Parking Spaces: 17

    Lot

    Acres: 0.27
    Latitude: 45.03872500
    Longitude: -93.28786500
    Lot Size Dim.: E75.9X147X75X159
    Dev/Complex Name: Camden Park Add
    Zoning: Business/Commercial

    Schools

    School District: 1 - Minneapolis
    District Phone: 612-668-0000

    Expenses

    Annual Gross Expense: $945,770

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $10,905
    Assessment Pending: No
    Taxes w/ Assessments: $10,905

    Income

    Annual Gross Income: 1154717.00

    Rent

    Annual Net Income: $208,947

    Unit

    Total Units: 2

    Miscellaneous

    Current Use: Tavern/Lounge, Restaurant
    Fuel System: Natural Gas
    Sale Includes: Building, Business, Fixture/Equipment, Liquor License
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate
    Water System: City Water/Connected

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    Richard
    Smyth
    TruStone
    Chrissy
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    Zajac
    TruStone
    Richard Smyth
    Area Sales Manager
    TruStone Home Mortgage NMLS#422593
    Richard Smyth joined TruStone Home Mortgage as a Mortgage Consultant in 2015. With nearly 10 years of experience in the mortgage industry, he has the skills to guide borrowers through the home buying process with ease. With a bachelor's degree in finance from the National University of Ireland Maynooth and a background as a financial advisor, Richard knows the ins-and-outs of financing and will help you get from contract to close. Away from work, Richard spends his time playing music, enjoying the outdoors and spending time with his family.
    763-270-4334

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    Listing provided by RMLS, courtesy of Summerhill Commercial Real