Schafer Richardson Sells 24,000 Square Foot Office Building in Northeast Minneapolis

Mike Olson of Schafer Richardson, Inc. successfully sold the building located at 416 East Hennepin Avenue for $1,800,000.  The 24,000 square foot office property was constructed in 1900, and is located in the heart of the vibrant Northeast Minneapolis neighborhood.  The private buyer plans to renovate the existing structure and may move his business offices into the property, once complete.

“This is one of the remaining parcels ready for redevelopment in the Northeast neighborhood and it has a lot of potential due to its location.  There is so much investment taking place in this area and the buyer wanted to take advantage of that,” commented Mike Olson, the Schafer Richardson agent responsible for the sale.