Commercial Ownership Assistance

Helping established small businesses pursue commercial property ownership

Local businesses that own their commercial property have greater control over a key part of their operating costs, which can provide greater business certainty and help prevent displacement as market conditions shift. Removing barriers to commercial property ownership helps level the playing field so that small business owners of all backgrounds have access to the value gains possible through ownership of real estate.

Hennepin County’s Commercial Ownership Assistance program seeks to support commercial real estate ownership among established small businesses at the early stages of assessing the feasibility of acquiring a specific property. Eligible small businesses seeking to acquire commercial real estate for their own use and occupancy in Hennepin County and who demonstrate a matching financial commitment can access up to $10,000 value in consulting services from real estate finance experts and other property acquisition experts, including:

Evaluating the financial feasibility of acquisition and ownership
Identifying building conditions and architectural needs, and
Understanding the process of property ownership

A total of $100,000 in professional consulting support is available beginning in October 2025. Applications are accepted on a rolling basis.

Low-barrier financing for small local businesses seeking to acquire property is also available through investment by Hennepin County. Learn more about the Elevate Hennepin Commercial Property Ownership Loan Fund.

How the program works

Business owners who are actively seeking to acquire commercial real estate for their own use or occupancy can work with qualified third-party commercial real estate consultants. Consultants are under contract with and paid by Hennepin County. Eligible businesses may receive consulting services valued up to $10,000 depending on project needs.

Value of consulting services to be provided will be determined by Hennepin County, based on the preliminary feasibility and proposed scope by the program consultants and eligible businesses may receive less than the maximum value.

Services available

Hennepin County consultants will offer a range of consulting services to selected businesses depending on the goals and needs of the business. Services may include, but are not limited to the following:

Feasibility analysis to evaluate the viability of the project
Preliminary architectural services, such as a building condition assessment and building code review
Preliminary renovation cost estimate, and projected sources & uses of funds statement
Consulting on leasing and repositioning strategies, such as asset repositioning or market adaptation
Development of an operating pro-forma budget based on projected maintenance and asset management costs.

Real estate brokerage and other transaction-related costs are not included as part of this program.

Who is eligible

Eligible businesses must be pursuing the purchase of a specific commercial property in Hennepin County, which they have already identified for their own use and occupancy. Businesses interested in buying their existing building or commercial space, businesses looking to relocate, or businesses looking to expand to open a second location or operations space are eligible to apply. The project may include purchase with renovations or building improvements and may include additional space for other commercial tenants. Total project size must be under $5 million.

Eligible businesses must:

Be a for-profit business located in Hennepin County
Be registered with the Minnesota Secretary of State
Be an established business with a minimum of three years in revenue operations
Have fewer than 100 employees
Be actively pursuing the purchase of an identified building within Hennepin County with a total project size under $5 million
Demonstrate financial commitment to the project totaling at least a 1:1 match
Demonstrate financial hardship, including significant changes or challenges that may have impacted the ability to meet obligations or other unexpected strains that may be short or long-term

Please review the program guidelines for more details on program specifics, what is funded, and eligibility. If you have additional questions, please contact Zack Avre at zack.avre@hennepin.us.

How to apply

Applications for Commercial Ownership Assistance are now open.

Eligible applicants will be accepted on a rolling basis.

Subscribe to the Thrive newsletter for program updates.

Informational session

An online informational session was held 10 a.m. Friday, October 24.

View a recording of the informational session