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Shopping Strip

Potbelly, Salon Concepts & UPS

2801 Hennepin Ave, Minneapolis, MN 55408

Listing Price: $3,115,000

Cap Rate
6.50%
Gross SF
9,271
Rentable SF
9,271
Price/Gross SF
$335.99
Lot Size
0.24 acres
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Potbelly, Salon Concepts & UPS located in Minneapolis, Minnesota. The subject property is a 9,271-square foot, 100 percent occupied three-tenant retail building in the Uptown District of Minneapolis. The offering includes rare off-street parking that includes 19 spaces with two points of egress. There are also additional metered spaces available along both cross streets.

Investment Highlights

  • 100 Percent Occupied 9,271-Square-Foot Potbelly, Salon Concepts and UPS Three-Tenant Retail Building in Uptown District of Minneapolis
  • Hyper-Dense Affluent and Urban Mixed-Use Area with 37,000 Residents within One-Mile and Average Household Income of $98- $101,000 within One-, Three- and Five-Mile Radii
  • Located Less Than Two Miles Southwest of Minneapolis's Urban Core – Highly Walkable Urban Neighborhood and Popular Destination for Boutique Shopping, Restaurants, Nightlife, and Cultural Event
  • Long-Term Triple-Net Lease with Salon Concepts (53.7 Percent of Gross Leasable Area) Thru June 2030 – Occupies Entire Second Floor
  • New 10-Year Triple-Net Lease with UPS Store (23.73 Percent of Gross Leasable Area) Thru January 2031 – Premises Delivered to Tenant in April 2021
  • Potbelly Sandwich Shop (22.58 Percent of Gross Leasable Area) has been In-Place Since 2015 with a Triple-Net Lease Thru November 2025; Two Five- Year Options to Extend with 10 Percent Bumps in Each

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Shopping Strip

Potbelly, Salon Concepts & UPS

Listing Price: $3,115,000

Cap Rate
6.50%
Gross SF
9,271
Rentable SF
9,271
Price/Gross SF
$335.99
Lot Size
0.24 acres
Year Built
1970

Investment Highlights

  • 100 Percent Occupied 9,271-Square-Foot Potbelly, Salon Concepts and UPS Three-Tenant Retail Building in Uptown District of Minneapolis
  • Hyper-Dense Affluent and Urban Mixed-Use Area with 37,000 Residents within One-Mile and Average Household Income of $98- $101,000 within One-, Three- and Five-Mile Radii
  • Located Less Than Two Miles Southwest of Minneapolis's Urban Core – Highly Walkable Urban Neighborhood and Popular Destination for Boutique Shopping, Restaurants, Nightlife, and Cultural Event
  • Long-Term Triple-Net Lease with Salon Concepts (53.7 Percent of Gross Leasable Area) Thru June 2030 – Occupies Entire Second Floor
  • New 10-Year Triple-Net Lease with UPS Store (23.73 Percent of Gross Leasable Area) Thru January 2031 – Premises Delivered to Tenant in April 2021
  • Potbelly Sandwich Shop (22.58 Percent of Gross Leasable Area) has been In-Place Since 2015 with a Triple-Net Lease Thru November 2025; Two Five- Year Options to Extend with 10 Percent Bumps in Each

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Potbelly, Salon Concepts & UPS located in Minneapolis, Minnesota. The subject property is a 9,271-square foot, 100 percent occupied three-tenant retail building in the Uptown District of Minneapolis. The offering includes rare off-street parking that includes 19 spaces with two points of egress. There are also additional metered spaces available along both cross streets.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

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