Mixed - Use Opportunity — Sale in White Bear Lake, MN

  • Price: $899K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: White Bear Lake, MN 55127
  • Size: 5,232 SF
  • Year built: 1983

Photos

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Investment Figures

Price per square foot
$172

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Versatile and Well-appointed mixed-use building. Main Floor Currently set up as a restaurant and catering kitchen. Could be adapted to new concept, or taken over as catering/restaurant operation. Walk-in Refrigerator and Freezer, fully-operational hood & bar top, ice-maker, business office and additional common restroom upstairs are all in-place. Or, Could be creative space, gallery, showroom, classrooms, retail outlet, co-working, designer, or architect. High ceilings, private restrooms, off-street parking with opportunity to lease space from adjacent property to the north provide opportunity for so many options. The two upstairs apartments come with many recent updates, including windows and window wells. Both are currently leased. Metered Electric Service in both apartments. Owner provides Heat, shared, internet, trash service and water. Great opportunity for a small business to acquire a building and have income day one!! Recent updates include: new roof 2024, AC and water heater 2019. Just south of 96 and just off 35e. Easy to get to and highly visible. Building Signage Opportunity. Minutes to downtown White Bear Lake. Building SF: 5232 | Land Size: 0.29 Ac | Year Built: 1983 | Listing Type: FOR SALE

Market Context

This multifamily in White Bear Lake, MN is listed for sale at $899,000 across 5,232 SF. The building dates to 1983. Compare it against other multifamily listings for sale in White Bear Lake, MN — view the full market.

As of Q1 2026, the Minneapolis multifamily market showed a 6.1% vacancy rate, and average asking rents near $1557.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Minneapolis multifamily market tightening or softening?
Vacancy is around 6.1% (Q1 2026).

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