USAMNSaint PeterAmended216 S Minnesota Ave

216 S Minnesota Ave, Saint Peter, MN

Name: 216 S Minnesota Ave, For Sale in Saint Peter - Zoocasa
Brand: Apartment Cash Flow, Inc.
SKU: 6821093
Price: 699900 USD

House

For Sale

Listed price in listed location currency (USD).

$699,900

002

MLS® 6821093

Overview

Key Facts

Type Business

Levels Commercial Sale

Size -

Garage Yes

Taxes $9,690

Days Active 330

Lot Size 0.157 Acres

Approx. Age 1890

MLS® Number 6821093

Property Address: 216 S Minnesota Ave, Saint Peter, MN, 56082-2522

Average square foot calculated using Size range provided by listing agent.

Description

Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional income with your ideas. Each commercial tenant pays for their own utilities including extra for trash. The residents upstairs are responsible for paying their own unit electric utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 10.13% with a net operating income of $70, 890. A new owner has room to improve cash flow by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.

MLS® Number6821093

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1890

BasementFull

DrivewayAttached Garage, Parking Lot

Garage Spaces

HeatBoiler, Forced Air

A/CCentral Air, Window Unit(s)

Extras

Building, Land, Leases, Rental License

Map

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