3116 Emerson Avenue N, Minneapolis, MN 55411 (MLS# 7143580)

3116 Emerson Avenue N, Minneapolis, MN 55411

$410,900
Property Type: Commercial Bedrooms: 3 Baths: 3 Square Footage: 7,167 Lot Size (sq. ft.): 6,534 Status: Active
Current Price: $410,900 List Date: 9/13/2026 Last Modified: 9/13/2026

Overview

Description

Cash flow from day one with a strong positive-leverage spread. 3116 Emerson Ave N is a fully occupied, six-unit mixed-use investment property offering an attractive entry point for the small investor focused on real cash flow—not just future appreciation. Priced at $410,900, the property generates approximately $79,812 in annual scheduled income and $40,083 in-place NOI, producing a 9.75% cap rate. Using the 6.25% financing assumption in the offering memorandum, that represents roughly a 350-basis-point spread between the going-in cap rate and interest rate, creating meaningful positive leverage that is increasingly difficult to find in smaller investment properties. The asset includes four residential apartments and two commercial spaces, providing six separate income streams and diversification beyond a traditional small multifamily property. All six units are currently occupied, while existing rents still provide modest upside: projected market income increases to approximately $8 ...

Listing Details MLS# 7143580

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
10
Waterfront YN
No
Year Built
1907
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family, Oth
Foundation Size
6534
For Sale or Lease
For Sale
Acres
0.15
Lot Dimensions
157 x 52
Assessment Pending
Unknown

Property Features

Accessible: None Air Conditioning: Window Unit(s) Assumable Loan: Not Assumable CMU Style: Mixed Use Construction Status: Previously Owned Current Use: Beauty/Barber Shop; Church; Residential Exterior: Brick/Stone Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Contract for Deed; Conventional On Site Utilities: Electric Separate Parking Characteristics: Parking Lot Potential Use: Income; Office; Other; Professional; Retail; Shop Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
410900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
3116
Street Name
Emerson
Street Suffix
Avenue
Street Direction Suffix
N
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55411
Complex/Dev/Subdivision
Silver Lake Add

Assessments

Tax With Assessments
7385

Basement

Foundation Dimensions
157 x 52

More Information

Building Information

Building Finished SqFt
4962
Building SqFt
7167

Income and Expenses

Annual Gross Expenses
39729
Annual Gross Income
79812
Annual Net Income
40083

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
09
Township#
29

Sale Options

Sale Includes
Building, Leases, Rental License

Unit 1

Unit Number
Commercia
Monthly Rent
1873
Level
Main Level
Leased?
Yes
Lease Expiration Date
2029-08-31
No. of 1 Bedroom Units
4

Unit 2

Lease Expiration Date
2026-12-31
Leased?
Yes
Level
Main Level
Monthly Rent
900
Unit Number
Commercia

Unit 3

Lease Expiration Date
2027-04-30
Leased?
Yes
Level
2nd Level
Monthly Rent
750
Unit Number
Apt 1 (St

Unit 4

Full Baths
Yes
Lease Expiration Date
2026-09-30
Leased?
Yes
Level
2nd Level
Monthly Rent
795
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Apt 2

Unit 5

Full Baths
Yes
Lease Expiration Date
2026-11-30
Leased?
Yes
Level
2nd Level
Monthly Rent
1050
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Apt 3

Unit 6

Full Baths
Yes
Lease Expiration Date
2026-12-31
Leased?
Yes
Monthly Rent
1100
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
Apt 4

Unit Details

Total Units
6

Unit Information

No. of Efficiency Units
Yes
IDX
Listing Office: Keller Williams Premier Realty
Last Updated: September - 13 - 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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