Magnum Group Acquires Retail Property At 700 Hennepin Avenue Minneapolis For $1.3M With Broker Matt Hazelton
700 Hennepin Avenue
$1,300,000
Building Size
—
Asset Type
Retail
Closing
Mar 4, 2026
About this deal
AI
The property asset involved in this transaction is located at 700 Hennepin Avenue, Minneapolis, MN. This retail asset was sold for $1,300,000. The property was previously part of Seven Steakhouse & Sushi and is associated with executives from Blue Ox Media Group. The sale price reflects a significant decrease from its purchase price of $4.4 million in 2024, as the billboard advertising rights were not included in this sale.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,300,000
- Buyer: Magnum Group
- Broker: Matt Hazelton - JLL
- Date of Sale: 03/04/2026
- Market: Minneapolis, MN
Magnum Group acquired the property with the intention of operating a full-service restaurant at the site, highlighting a shift in the property's use under new ownership. Matt Hazelton from JLL represented the broker in this transaction.
On the Map
$1,300,000
Retail
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Players
Minneapolis Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93