1405 E Lake Street, Minneapolis, MN 55407
$3,200,000
Property Type:
Commercial
Lot Size (sq. ft.):
37,026
Status:
Active
Current Price:
$3,200,000
List Date:
5/01/2026
Last Modified:
5/27/2026
Overview
Description
Listing Details MLS# 7061743
General Property Information
- Lot Measurement
- Acres
- Multiple PIDs?
- No
- Other Parking Spaces
- 21
- Year Built
- 1981
- Yearly/Seasonal
- Yearly
- Zoning
- Business/Commercial
- Foundation Size
- 4255
- For Sale or Lease
- For Sale
- Acres
- 0.85
- Lot Dimensions
- Irregular
- Assessment Pending
- Unknown
- Garage Stalls
- 0
Property Features
Accessible:
No Stairs External
CMU Style:
Business Opportunity; Mixed Use; Retail/Shopping Center
Construction Status:
Previously Owned
Current Use:
Laundromat; Restaurant
Exterior:
Wood
Foundation:
Concrete Block
Fuel:
Electric; Natural Gas
Heating:
Forced Air
Loan Terms:
Cash; Conventional
Lot Description:
Public Transit (w/in 6 blks); Tree Coverage - Light
On Site Utilities:
Electric Common; Heating Common; Hot Water Common
Parking Characteristics:
Parking Lot; Paved Lot
Pool Description:
None
Road Frontage:
City Street; Curbs; Paved Streets; Sidewalks
Roof:
Flat
Sewer:
City Sewer/Connected
Stories:
One
Water:
City Water/Connected
Contract Information
- Contingency
- None
- ListPrice
- 3200000
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- House Number
- 1405
- Street Direction Prefix
- E
- Street Name
- Lake
- Street Suffix
- Street
- Postal City
- Minneapolis
- County
- Hennepin
- State
- MN
- Zip Code
- 55407
- Complex/Dev/Subdivision
- Williams Add
Assessments
- Tax With Assessments
- 36591.98
- Assessment Balance
- 0
Building Information
- Building Finished SqFt
- 4255
More Information
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Public Survey Info
- Range#
- 24
- Section#
- 02
- Township#
- 28
Sale Options
- Sale Includes
- Building, Business Assets, Business, Fixture/Equipment, Inventory, Land
Unit Details
- Total Units
- 2
Office/Member Info
- Association
- SPAAR
Location, Tax and Other Information
- Legal Description
- BLOCK 002 WILLIAMS ADDN TO MPLS LOTS 14 THRU 20 INCL BLK 2 WILLIAM'S ADDN TO MPLS AND E 42 FT OF LOTS 1 2 AND 3 BLK 1 L AND R'S SUBDIVISIONS IN LAWRENCE AND REEVES OUTLOTS INCL THAT PART OF ADJ VAC 14TH AVE S
- Listing City
- Minneapolis
- Map Page
- 106
- Municipality
- Minneapolis
- School District
- Minneapolis
- School District Phone
- 612-668-0000
- Zip Plus 4
- 2040
- Property ID Number
- 0202824120257
- Tax Year
- 2026
- Tax Amount
- 36591.98
- In Foreclosure?
- No
- Potential Short Sale?
- No
- Lender Owned?
- No
Directions & Remarks
- Public Remarks
- Positioned along the vibrant East Lake Street corridor, this mixed-use commercial property offers a compelling blend of stability and future potential. Anchored by a high-volume laundromat and an operating restaurant, the property generates strong, diversified income. Set on one of the largest parcels in the immediate area, the site presents significant upside through expansion or redevelopment. Its prominent location benefits from consistent traffic, strong neighborhood demand, and proximity to key Minneapolis destinations. A rare chance to secure a sizable footprint in a high-demand urban corridor.
- Directions
- Hwy 55 S, W onto E Lake St
Accessible
- No Stairs External
- Yes
Construction Status
- Previously Owned
- Yes
Exterior
- Wood
- Yes
Foundation
- Concrete Block
- Yes
Fuel
- Electric
- Yes
- Natural Gas
- Yes
Heating
- Forced Air
- Yes
Lot Description
- Public Transit (w/in 6 blks)
- Yes
- Tree Coverage - Light
- Yes
Parking Characteristics
- Parking Lot
- Yes
- Paved Lot
- Yes
Pool Description
- None
- Yes
Road Frontage
- City Street
- Yes
- Curbs
- Yes
- Paved Streets
- Yes
- Sidewalks
- Yes
Roof
- Flat
- Yes
Sewer
- City Sewer/Connected
- Yes
Stories
- One
- Yes
Water
- City Water/Connected
- Yes
On Site Utilities
- Electric Common
- Yes
- Heating Common
- Yes
- Hot Water Common
- Yes
CMU Style
- Business Opportunity
- Yes
- Mixed Use
- Yes
- Retail/Shopping Center
- Yes
Current Use
- Laundromat
- Yes
- Restaurant
- Yes
Loan Terms
- Cash
- Yes
- Conventional
- Yes
Listing Office:
Compass
Last Updated: May - 27 - 2026
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