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$445,000

  • For Sale
  • Active
  • Commercial
  • 8,300 Sq. Ft.
  • 0.24 Acres
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Classic 1920s brick retail center in Victory neighborhood. Building has 5 units with a 14 space asphalt parking lot. Well-maintained building with newer forced-air furnaces in each unit and 4 of the 5 units have central air. Main floor units feature 9-10 ft ceiling height, separate front and back entrances, and some units have display windows. Property has a full basement with 8 ft ceiling height. Tenants pay their own heat/gas/electric. Four stable, long-term tenants occupy the 5 spaces. Buy as an investment opportunity or owner-occupy with your own business as space becomes available. Take advantage of the close proximity of Victory Memorial Drive and other thriving, local businesses and become a part of the growing Victory neighborhood business community.

Full Property Details for 3854 Thomas Ave N

General

  • Price: $445,000
  • Taxes: $9,766 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6705803
  • Updated: 12/11/2025
  • Added to Site: 292 day(s) ago

Parking

  • Parking Features: Asphalt, Parking Lot

Location

  • County: Hennepin
  • Township: Minneapolis
  • Subdivision: Thorpe Bros William Penn Add
  • Neighborhood: 79
  • Driving Directions: Victory Memorial Drive to Dowling Ave N. East on Dowling to Thomas Ave N. North on Thomas to Property.

School Information

  • School District: 558 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate

Structural Information

  • Exterior Const.: Block, Brick, Frame
  • Basement: Yes
  • Basement Desc.: Block, Full, Single Tenant Access
  • Foundation Size: 4150
  • Roof: Flat, Rubber
  • Ceiling Height: 8-10
  • Disability Access: Other
  • Square Feet: 8,300
  • Finished Down/Base.: 8,300 Sq. Ft.
  • Current Bldg. Use: Professional/Office, Beauty/Barber Shop, Other, Retail
  • Year Built: 1926

Lot Features

  • Lot Size (Acres): 0.24
  • Lot Dimensions: 83 x 126.4
  • Frontage: City Street, Curbs, Paved Streets, Sidewalks, Street Lights, Storm Sewer
  • Zoning: Business/Commercial
  • Lot Description: Corner Lot

Financial Considerations

  • Tax Amount: $9,766.25
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Common Area Maintenance, Exterior Maintenance, Grounds Care, Repairs, Roof Maintenance, Sewer, Snow Removal, See Remarks, Taxes, Trash Collection, Water
  • Tenant Pays: Electricity, Gas, Heat
  • Pays Electric: Tenant Pays
  • Pays Gas: Tenant Pays
  • Pays Heat: Tenant Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: BLOCK 017 THORPE BROS WILLIAM PENN ADDN LOTS 17 AND 18
  • Inclusions: Building, Land
  • Property ID: 502924410146

Listed by RE/MAX Results

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— 3854 Thomas Ave N —

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Schools serving 3854 Thomas Ave N

School District:Minneapolis Public School District
NameGradesDistance
Loring Elementary School
2600 North 44th Avenue, Minneapolis, MN 55412
PK-50.7 mi
Olson Middle School, Minneapolis, MN
1607 51st Avenue North, Minneapolis, MN 55430
6-81.6 mi
Henry Senior High School
4320 North Newton Avenue, Minneapolis, MN 55412
9-120.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 3854 Thomas Ave N Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/06/2025
Listed
$445,000
92.43%
MLS
11/02/1999
Sold
$231,250
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 3854 Thomas Ave N

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,981
-4%
$350,000
10%
2023
$10,381
3%
$319,000
8%
2023
$10,089
—
$296,000
3%
2023
$10,089
-4%
$287,500
6%
2020
$10,553
34%
$271,000
5%
2019
$7,889
10%
$258,000
9%
2018
$7,168
-1%
$236,500
10%
2017
$7,229
1%
$215,000
—
2016
$7,161
-5%
$215,000
—
2015
$7,560
-8%
$215,000
—
2014
$8,237
-4%
$215,000
—
2013
$8,604
—
$215,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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3854 Thomas Avenue N, Minneapolis, MN 55412 (MLS# 6705803) is a Commercial property. 3854 Thomas Avenue N is currently listed for $445,000 and was received on May 06, 2025. Want to learn more about 3854 Thomas Avenue N? Do you have questions about finding other Commercial real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.

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