921 Marquette AveMinneapolis, MN 55402

This exceptional seven-story, 443-space parking facility in Minneapolis, MN, presents a compelling investment opportunity. Located at 921 S Marquette Ave, this property boasts a prime location with convenient access to Interstates 35W and 94, ensuring easy ingress and egress for users. Significant capital improvements totaling $6.3 million were completed between 2015 and 2023, encompassing structural enhancements, fire safety upgrades, and the installation of a state-of-the-art Parkonect system for advanced reserved parking and QR code access. The property benefits from a strong return-to-office trend, with revenue increasing 102% since 2021, driven by over 60% of the downtown workforce returning to the office at least three days a week. Its strategic location adjacent to over 1.2 million square feet of office space, a large apartment complex with limited parking, and the Hilton Minneapolis (800+ rooms) ensures consistent demand. A dependable anchor tenant, Enterprise Rent-A-Car, recently renewed their lease for five years and invested $120,000 in renovations. Further value-add potential exists through the lease-up of 13,571 square feet of ground floor retail space. The property's zoning, DT1 (Downtown Center) with BFC50 Core 50 Built Form Overlay, allows for future development opportunities within the context of Minneapolis's initiatives for increased residential housing in the central business district. The asking price is $5,300,000. The property was renovated in 2023.