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Lumen on Lagoon 1201-1211 Lagoon Ave 13,099 sq ft 100% Let Retail Property Minneapolis, MN 55408 £1,943,916 (£148.40/sq ft) 9.31% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Above market in-place CAP RATE of 9.31%
- CorePower Yoga (since 2007) and SofaClub Cannabis (new 10-year lease) offer excellent credit anchor Tenants for 60% of the GLA
- Contact broker today for additional information and a tour
- Stable asset with value-add upside via rent increases or re-tenanting 57 FIT
- Outstanding Uptown location
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY | FULLY OCCUPIED UPTOWN RETAIL INVESTMENT
Grand Real Estate Advisors is proud to present Lumen on Lagoon, a prime street-level retail condominium opportunity in the heart of Uptown Minneapolis. This modern, fully occupied property offers an exceptional blend of stable income and immediate rent upside, located directly beneath four floors of owner-occupied residential units in a dynamic mixed-use development.
INVESTMENT HIGHLIGHTS
Exceptional Cap Rate: Offering a strong 9.3% In-Place Cap Rate based on an NOI of $241,975.80 (2026), providing immediate, stable cash flow.
Strong Anchor Tenancy: Over 60% of the GLA is secured by long-term leases with established national and regional tenants, including CorePower Yoga (through 2032) and SOFACLUB Cannabis (through 2036).
Immediate Value-Add Opportunity: 57 FIT occupies 25% of the GLA and is currently paying below market rates. The lease includes a clause allowing the new Owner to terminate tenancy by providing 90 days written notice, providing the flexibility to immediately re-tenant the space at higher market rates. Alternatively, an owner-user could occupy this portion of the building.
Affluent & Educated Demographics: Situated in a thriving, highly walkable area known for its strong median household income and high concentration of young professionals who support the surrounding eclectic dining, boutique shopping, and service-oriented businesses.
PROPERTY DETAILS
Address: 1211 Lagoon Avenue, Minneapolis, MN 55408
Gross Square Footage: 13,099 SF (Entire first floor; structured as 3 PID's - Condos)
Year Built: 2006 (Modern construction)
This is an unparalleled opportunity to acquire a stable, high-performing retail asset in one of Minneapolis' most energetic and consistently sought-after neighborhoods.
Contact Broker for confidential Offering Memorandum and full Rent Roll details.
Grand Real Estate Advisors is proud to present Lumen on Lagoon, a prime street-level retail condominium opportunity in the heart of Uptown Minneapolis. This modern, fully occupied property offers an exceptional blend of stable income and immediate rent upside, located directly beneath four floors of owner-occupied residential units in a dynamic mixed-use development.
INVESTMENT HIGHLIGHTS
Exceptional Cap Rate: Offering a strong 9.3% In-Place Cap Rate based on an NOI of $241,975.80 (2026), providing immediate, stable cash flow.
Strong Anchor Tenancy: Over 60% of the GLA is secured by long-term leases with established national and regional tenants, including CorePower Yoga (through 2032) and SOFACLUB Cannabis (through 2036).
Immediate Value-Add Opportunity: 57 FIT occupies 25% of the GLA and is currently paying below market rates. The lease includes a clause allowing the new Owner to terminate tenancy by providing 90 days written notice, providing the flexibility to immediately re-tenant the space at higher market rates. Alternatively, an owner-user could occupy this portion of the building.
Affluent & Educated Demographics: Situated in a thriving, highly walkable area known for its strong median household income and high concentration of young professionals who support the surrounding eclectic dining, boutique shopping, and service-oriented businesses.
PROPERTY DETAILS
Address: 1211 Lagoon Avenue, Minneapolis, MN 55408
Gross Square Footage: 13,099 SF (Entire first floor; structured as 3 PID's - Condos)
Year Built: 2006 (Modern construction)
This is an unparalleled opportunity to acquire a stable, high-performing retail asset in one of Minneapolis' most energetic and consistently sought-after neighborhoods.
Contact Broker for confidential Offering Memorandum and full Rent Roll details.
FINANCIAL SUMMARY (ACTUAL - 2026) Click Here to Access |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Retail
Property Subtype
Property Size
13,099 sq ft
Costar Property Class
B
Year Built
2006
Price
£1,943,916
Price per sq ft
£148.40
Yield
9.31%
NOI
£180,916
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Plot ratio
0.75
Total Plot Size
0.40 ac
Opportunity Zone
Yes
Use Class
C3A - Retail.
Frontage
165 ft on Lagoon Ave
AMENITIES
- Signalised Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- 57FIT
- Arts, Entertainment, and Recreation
-
99,999 SF
- -
- -
-
- Arts, Entertainment, and Recreation
-
99,999 SF
- -
- -
CorePower Yoga, founded in Denver in 2002, operates a chain of heated and non-heated studio classes, online streaming, and teacher training. Acquired by private equity firm TSG Consumer Partners in 2019, it is privately held and offers brand-name class formats such as Power Yoga, Yoga Sculpt, and Strength X. The company grew from a single studio to over 220 locations across more than 23 states and D.C. It pioneered a franchising model, faced legal challenges over COVID-era closures in 2021, and is recognized for reshaping the yoga studio market through standardized branding and fitness-first offerings. In 2025, CorePower continues expansion with plans such as a new Fort Worth studio and a revamped app for on-demand classes.
- Cozy Cookie
- Accommodation and Food Services
-
99,999 SF
- -
- -
- SofaClub
- Retailer
-
99,999 SF
- -
- -
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| 57FIT | Arts, Entertainment, and Recreation | 99,999 SF | - | - | ||
|
|
Arts, Entertainment, and Recreation | 99,999 SF | - | - | ||
| Cozy Cookie | Accommodation and Food Services | 99,999 SF | - | - | ||
| SofaClub | Retailer | 99,999 SF | - | - |
Walk Score®
Excellent pedestrian access (98)
Bike Score®
Ideal For Cyclists (97)
NEARBY MAJOR RETAILERS
1 of 5
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Lumen on Lagoon | 1201-1211 Lagoon Ave
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