101 Glenwood Ave Local commercial 1 003 m² À vendre Minneapolis, MN 55403 661 846 € (659,63 €/m²)

Seller financing is available for this opportunity with a 25% down payment.

Become part of the future of Downtown Minneapolis by reimagining one its most beloved and storied institutions with the acquisition of 101 Glenwood Avenue, the former Lee’s Liquor Lounge and Concert Venue. This freestanding retail property has been a fixture of the local music culture for 62 years until closing its doors in 2019, renowned for hosting country, Americana, and rockabilly acts of all sizes. This is a valuable opportunity for a similar business to enter the space and capture a share of the more than $515 million that was spent on food, alcohol, and entertainment within 2 miles of the property during 2024. Additionally, flexible C3A zoning allows for a wide range of other potential uses for the space, including commercial, entertainment, residential, institutional, and public facilities. The HVAC and roof for the property both require renovation or replacement.

This rare offer allows businesses to source a prominent new home that brings decades of local market recognition to usher in a new era of success. 101 Glenwood Avenue also offers potential as a value-add investment, allowing a new owner to leverage the strong fundamentals in the Minneapolis Retail Submarket to attract a quality tenant at elevated rents. The submarket currently boasts constrained vacancies of just 4%, well below the five-year average, and year-over-year rent growth of 4.3%, outpacing the greater metro area. No new retail space has been constructed in the submarket over the past decade, cementing this as a true rarity in this vibrant investment destination.

Spanning a total of 10,800 square feet across two stories, 101 Glenwood Avenue was originally built in 1901 and is situated on a high traffic corner lot. Its attractive brick façade, ornate cornices, and triangular pediment draw the eyes of over 9,300 vehicles passing through the intersection of Glenwood Avenue and 11th Street each day. Placement just off the intersection of Interstates 94 and 394 allows potential customers from across greater Minneapolis to easily reach the property, and the building’s 0.17-acre lot includes 12 on-site parking spaces for customer convenience. Multiple light rail stations with connections for the Blue and Green lines are reachable in a short walk, providing additional simplified access options. This fantastic location is eligible for Minneapolis’s Great Streets program, delivering lucrative incentives to businesses in the area, including façade improvement matching grants, business district support grants, and real estate redevelopment gap financing loans.

Many of Downtown’s top attractions lay within walking distance of 101 Glenwood Avenue, including Target Field and Target Center, the Orpheum Theatre, Loring Park, and the Minneapolis Farmer’s Market, resulting in impressive daily foot traffic flowing to the area. Customers walking from these popular destinations enjoy easy access via the Minneapolis Skyway, an interlinked collection of enclosed pedestrian footbridges and the largest contiguous system of enclosed second level bridges in the world. Currently, the Skyway comprises 10 miles of sprawling pathways that connect around 80 city blocks. Other notable destinations within 10 minutes of the property include the Minneapolis Convention Center, the University of Minnesota, and U.S. Bank Stadium.

Offering a historic landmark building that served as a fixture of Minneapolis’s music and entertainment industry for decades with an exceptional location that is just off Interstate 94 and 394 and walkable to top Downtown attractions, 101 Glenwood Avenue presents a one-of-a-kind opportunity to join this thriving commercial hub.