For Sale: Saint Peter MLS# 6535037
Active
$625,000
Commercial: Apartments
Built 1887
0.08 acres
St. Peter schools
MLS# 6535037
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Property Description
THIS DOWNTOWN ICONIC SAINT PETER MINNESOTA PROPERTY OFFERS INVESTORS AN OPPORTUNITY TO ACQUIRE A UNIQUE ALL BRICK AND KASOTA LIMESTONE FIVE-UNIT MIXED-USE PROPERTY!! THE BUILDING FEATURES TWO LARGE MAIN FLOOR RETAIL UNITS. ERBERTS & GERBERTS IS ONE OF THESE ANCHOR TENANTS AND HAS A LONG LEASE IN PLACE. THE SECOND FLOOR FEATURES TWO OVERSIZED LOFT STYLE APARTMENTS WITH TALL CEILINGS. THE LOWER LEVEL IS LEASED TO A GOOD STANDING LONG TERM TENANT. THE WHOLE ASSET IS FULLY LEASED AND IN TURN-KEY CONDITION!! AMAZING EXTERIOR CURB APPEAL. MOST UTILITIES ARE PAID BY TENANTS. ROOF IS 1998 AND WINDOWS HAVE BEEN REPLACED. IN-PLACE CAP RATE OF 7.4% AND NET OPERATING INCOME OF $46, 225 - CALL FOR MORE FINANCIALS.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$625,000
Property Type:
Commercial
City:
Saint Peter
Garage Spaces:
0
County:
Nicollet
Year Built:
1887
State:
MN
Property Style:
Apartments
Zip Code:
56082
Subdivision Name:
Amended
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Finished
- Full
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
3,600 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
None
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
- Pitched
Lot & Land
Acres:
0.08
Geolocation:
44.324423, -93.957398
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
40 x 91
Zoning:
Business/Commercial
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
508
District Phone:
507-934-5703
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,874
Annual Maintenance Expense:
$1,500
Annual Gross Expense:
$16,715
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$1,023
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$9,068
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,068
Income
Annual Gross Income:
$62,940
Rent
Annual Net Income:
$46,225
Units
Total Units:
5
Miscellaneous
Current Use:
- Commercial
- Office
- Professional Service
- Residential
- Restaurant
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.