Commercial brokers are marketing two retail outlots at Naples Marketplace in Blaine and two restaurant or mixed-use properties along Minneapolis’ Lyndale Avenue, with asking prices of $965,000 and $1.295 million for the Minneapolis properties. The listings offer opportunities for retail development, restaurant operators and investors in established Twin Cities commercial corridors.
The Blueprint
ATLAS Commercial Real Estate is marketing two Blaine outlots measuring 1.10 and 1.12 acres near I-35W.
Naples Marketplace outlots could accommodate freestanding retail buildings of about 5,000 square feet each.
A 3,788-square-foot LynLake restaurant property at 2933 Lyndale Ave. S. is listed for $965,000.
A 7,208-square-foot mixed-use property at 3401–3405 Lyndale Ave. S. is listed for $1.295 million.
It’s a retail-heavy week for On the Market as we round the corner into late October. First up are two outlot opportunities at Naples Marketplace, a lively community-scale commercial center just off Interstate 35W in Blaine. Then we head down the freeway to the LynLake neighborhood of Minneapolis, where two unrelated restaurant properties seek fresh eyes.
Naples Marketplace outlots
ATLAS Commercial Real Estate is marketing two amply-sized outlots at a busy shopping center anchored by Kwik Trip and Caribou Coffee. It’s less than a minute’s drive northeast of I-35W along Lake Drive, which sees more than 14,000 vehicles per day, according to ATLAS agent Nicole Biskey.
Both outlots are zoned B-2 — community commercial — promising flexibility for a buyer or build-to-suit client.
“This property [is] a great fit for many potential businesses, fast food, bank concepts, neighborhood retail and more,” Biskey says.
Several independent or franchise businesses occupy a single-story retail strip center immediately north of the anchors and just west of the outlots, including a Mexican restaurant, a barber shop and a liquor store. The northwest corner of the shopping center is home to a 12-stall IONNA electric vehicle fast-charging station — adding yet more passenger throughput from the nearby freeway.
According to schematics shared by Biskey, the outlots’ development plans contemplate freestanding buildings of about 5,000 square feet with onsite parking. There’s existing parking nearby, of course; the entire Naples Marketplace development is built around an interior parking area with dozens of stalls.
Address: Interstate 35W & Lake Drive, Blaine
Type: Land (retail outlots)
Square Footage: 1.10 & 1.12 acres
Asking Price: Negotiable
Seller: Hokanson Construction & Development Company (Blaine)
Listing Broker: Nicole Biskey, ATLAS Commercial Real Estate
The building at 2933 Lyndale Ave. S. in Minneapolis is a fully equipped restaurant space, complete with a dark-wood bar, booths and stools to match. (Photo: Catylist) –
Fully equipped LynLake restaurant
More than a dozen restaurants and bars line Lyndale Avenue between Lake Street and 28th Avenue, including longtime neighborhood favorites like the Uptown VFW and World Street Kitchen.
This 3,788 square-foot storefront has the opportunity to be the area’s next local hangout — or just a place of one’s own for an up-and-coming food entrepreneur.
Truth be told, this is more than a storefront that could be a restaurant. It’s a fully equipped restaurant space, complete with a sumptuous dark-wood bar, booths and stools to match, vintage overhead and wall lighting, and an oversized garage-style door opening for quasi-al-fresco dining. A 748 square-foot patio adds valuable dining space to the rear, near an oversized shared parking lot; the interior has a small private dining room off the main customer area.
The building itself was built in 1920 and thoroughly renovated in 2011, according to the listing brochure.
Address: 2933 Lyndale Ave. S., Minneapolis
Type: Retail (restaurant)
Square Footage: 3,788 square feet
Asking Price: $965,000
Seller: Private owner
Listing Broker: Kenwood Commercial
Lyndale Avenue Mixed Use
Head about four blocks south of the restaurant and you’ll find yourself on a quieter, leafier section of Lyndale Avenue punctuated by neighborhood retail nodes.
This two-unit building enlivens the one at Lyndale and 34th St. W., across the street from Twin Town Guitar and the ever-popular Five Watt Coffee. Originally two separate buildings, the units — still carrying separate addresses — are now connected by a walkway. Both sides have second-floor office space above the public-facing ground-floor retail area.
The signature tenant is Sonny’s Ice Cream Cafe, a beloved family-owned shop with decades of history in the neighborhood, according to the listing brochure from Results Commercial brokers Mark and Hayden Hulsey.
With a minimum of 35 to 40 seats inside and room for up to 70 on the piazza out front, it’s an “excellent opportunity for a new operator of the restaurant, cafe or bistro to step in and begin operations quickly in a high demand South Minneapolis location,” they say.
Address: 3401 – 3405 Lyndale Ave. S., Minneapolis,
Type: Mixed use (office, retail/restaurant)
Square Footage: 7,208 square feet
Asking Price: $1.295 million
Seller: Private owners
Listing Broker: Mark Hulsey & Hayden Hulsey, Results Commercial
Keep exploring this topic
Dining and Cooking