1405 E Lake Street, Minneapolis, MN 55407 (MLS# 7061743)

1405 E Lake Street, Minneapolis, MN 55407

$2,900,000
Property Type: Commercial Lot Size (sq. ft.): 37,026 Status: Active
Current Price: $2,900,000 List Date: 5/01/2026 Last Modified: 9/25/2026

Overview

Description

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.

Listing Details MLS# 7061743

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
21
Waterfront YN
No
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

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
2900000
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

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
IDX
Listing Office: Compass
Last Updated: September - 25 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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