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Key Details
Sold Price $700,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6654590
Sold Date 11/10/25
Year Built 1937
Annual Tax Amount $1,191
Tax Year 2025
Contingent None
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 8391
Property Sub-Type Business
Property Description
The iconic Avalon Theater is nestled in the vibrant East Lake Street neighborhood of Midtown Phillips. It is in the heart of a bustling Opportunity Zone, which can offer certain tax incentives to investors. Notable for the signature art deco exterior façade and towering marquee, this expansive space accommodates a variety of potential uses ranging from theater to community or educational space, place of worship, or fitness center. The options are truly vast. The building features a newly remodeled office, kitchenette, and board room (2021), updated HVAC system (2018), as well as an ADA bathroom on the main level. It has excellent visibility on a commercial corridor, strong connection to public transit, freeway access, & an array of restaurants, area businesses and a thriving residential community.
Location
State MN
County Hennepin
Zoning Business/Commercial
Rooms
Basement None
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Parking Features On-Street Parking Only
Utilities Available Hot Water Common
Roof Type Rubber
Present Use Commercial,Event Space
Building
Lot Description Public Transit (w/in 6 blks), Corner Lot
Foundation 10680
Sewer City Sewer - In Street
Water City Water - In Street
Structure Type Brick/Stone
Schools
School District Minneapolis
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Ingrid Friel
Residential Realtor | License ID: 40213017
Residential Realtor License ID: 40213017