Prime Minnesota Avenue site spans two city blocks
Feb. 26, 2020
This paid Site Spotlight is sponsored by Ryan Tysdal of Van Buskirk Cos.
As Vern Eide consolidates several of its operations under one roof in the former Shopko property on East 10th Street, its Minnesota Avenue property has hit the market for sale.
The property is 2.04 acres and includes a 24,700-square-foot building that was built as a new-car store for Vern Eide – originally for BMW and Mercedes-Benz, and most recently Mitsubishi.
It includes a large, wide-open showroom space, a large service bay area, several office suites and a car wash bay.
“The property was originally built to German standards for Mercedes and BMW, so its level of construction is very high,” according to Ryan Tysdal of Van Buskirk Cos., who has the property listed for sale.
Additionally, the property includes a secondary, 3,920-square-foot office building on the northeast corner of Minnesota Avenue and 25th Street that has office tenants currently leasing space.
“We’ve had a variety of users look at the property,” Tysdal said.
“While an auto dealership is a logical use, potential buyers have included office, medical and fitness users. It can be somewhat of a blank slate.”
The property spans two entire city blocks, from 23rd to 25th streets.
“This is one of the largest and highest-profile properties on Minnesota Avenue,” Tysdal added. “Its exposure is fantastic.”
It is located on a high-traffic stretch of Minnesota Avenue, with traffic counts of 25,000 cars per day.
“The central location also makes this an attractive site,” Tysdal said.
“It has close proximity to downtown, both universities and hospitals.”
The $4 million asking price recently was reduced to $3.2 million.
“This is a bargain for the right user,” Tysdal said.
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