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Presented By: Keller Williams Premier Realty
Prime investment opportunity: fully leased 6-unit strip mall in Maplewood. This thriving community is undergoing significant development, including three new multi-family buildings with over 150 units, promising increased foot traffic and business growth. The strip mall boasts a 7% cap rate offering excellent returns with 100% occupancy and no vacancies. A long-standing laundromat, a local staple since the 1960's, ensures tenant stability and consistent patronage. This property guarantees immediate rental income from its fully leased units. Located in a bustling area with growing infrastructure, the strip mall is set to benefit from the influx of new residents and shoppers. The property includes a rare onsite well, eliminating city water bills and reducing costs to just outgoing sewer expenses. This investment promises long-term growth and solid return, making it a perfect addition to your portfolio. Don't miss out on this fantastic opportunity in Maplewood.
Presented By: Keller Williams Premier Realty
BasementFull
Basement (Y/N)Yes
FuelNatural Gas
AccessibilityNone
Additional Parcels Y/NNo
Amenities UnitCable, Security System
CityMaplewood
Construction MaterialsBrick/Stone
ContingencyNone
CoolingCentral Air
CountyRamsey
Current UseBeauty/Barber Shop, Food Service, Laundromat, Office, Professional Service
DirectionsHwy 36 east of Interstate 35E to English St. south to Frost
Electric Expense11232
Garage Spaces
Gross Income90000
HeatingForced Air
High School DistrictNorth St Paul-Maplewood
Insurance Expense4565
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Lot Size UnitsSquare Feet
Net Operating Income67915
NumberOfUnitsTotal9
PostalCitySaint Paul
Property SubTypeRetail
Property TypeCommercial Sale
RoofAge 8 Years or Less, Rolled/Hot Mop, Flat, Rubber
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameGladstone, Ramsey Co, Minn
Tax Annual Amount17584
Tax Year2024
UtilitiesElectric Common, Electric Separate, Heating Common, Heating Separate, Hot Water Common, Hot Water Separate
Year Built1960
Zoning DescriptionBusiness/Commercial
Building Area Total6856
Foundation Area4956
InclusionsBuilding
Lot Dimensions1
Lot FeaturesPublic Transit (w/in 6 blks), Corner Lot, Tree Coverage - Light
Lot Size Area0.62
Parking FeaturesPaved
Water SourceCity Water - In Street, Well
Broker MN and WI