Building Community Wealth: Two Penn Avenue Opportunities

PIPCLT is committed to keeping ownership local and ensuring that North Minneapolis neighborhoods thrive without displacement. That’s why we’re excited to share two new opportunities for affordable commercial property ownership in the Cleveland/Folwell neighborhood.

3453 Penn Ave N – List Price: $317,500
Built in 1921, this 4,246-square-foot property currently has one long-term tenant and additional space available to lease. It offers excellent visibility on Penn Avenue and represents an affordable starting point for community investors.

3501 Penn Ave N – List Price: $334,900
Built in 1922, this 6,571-square-foot property is approximately 75% occupied with established tenants. It includes generous storage and bonus space. Most importantly, it offers the option to purchase through the Land Trust model, ensuring that this property remains affordable for future generations of local entrepreneurs.

For PIPCLT, these opportunities are not just about property—they’re about equity, stability, and the vision of neighborhoods where local business owners can thrive.

We invite you to learn more about how these properties fit into the larger movement for permanently affordable commercial spaces and to join us in imagining a future where community ownership shapes the heart of our city.