Listed By
Agency Name: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653
Shown By
Agent Name: Jeanne Hauser, Broker/Agent
Agent Phone: (651) 269-2987
Agency Title: Counselor Realty
Property 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 8.51% with a net operating income of $67,669. A new owner has room to improve cash flows 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.
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216 S Minnesota Avenue, Saint Peter, MN 56082
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216 S Minnesota Avenue, Saint Peter, MN 56082
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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.
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216 S Minnesota Avenue | MLS# 6821093
This commercial property located at 216 S Minnesota Avenue, Saint Peter, MN 56082 is currently listed for sale with an asking price of $795,000. S Minnesota Avenue is located within the St. Peter school district. Search Saint Peter real estate on jhauser.counselorrealty.com today.