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Active
Listed
$3,500,000
/mo   Edit
MLS# 5208443
Commercial
Built 1926
0.79 acres
Minneapolis schools
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    Description:   Exceptional Investment Opportunity with long-term tenants.
    List Price: $3,500,000
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Active
    Contingency: None
    Year Built: 1926
    Neighborhood/Area: Powderhorn Park
    City: Minneapolis
    Zip Code: 55407

    Interior

    Building Fin Sq Ft: 30,478 ft²
    Appliances Included: Microwave, Refrigerator
    Total Refrigerators: Two
    Basement Details: Full, Concrete Block

    Exterior

    Air Conditioning: Central
    Heating System: Forced Air
    Foundation Size: 30,478 ft²
    Unit Amenities: Natural Woodwork, Hardwood Floors, Tiled Floors, Paneled Doors, Security System, Indoor Sprinklers, In-Ground Sprinkler, Ethernet Wired, Broadband Available, Multiple Phone Lines
    Road Frontage: City, Paved Streets, Curbs, Sidewalks
    Handicap Accessible: None
    Exterior Material: Stucco, Brick/Stone
    Garage Spaces: 0
    Other Parking Spaces: 0
    Roof Details: Rubber

    Lot

    Acres: 0.79
    Lot Description: Corner Lot, Tree Coverage - Light, Zero Lot Line, City Bus (w/in 6 blks)
    Latitude: 44.94793900
    Longitude: -93.25710200
    Lot Size Dim.: 172x116x49x120x117x23
    Dev/Complex Name: Tingleys Add
    Zoning: Business/Commercial

    Schools

    School District: 1 - Minneapolis
    District Phone: 612-668-0000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $35,500
    Annual Fuel Expense: $7,628
    Annual Insurance Expense: $5,800
    Annual Maintenance Expense: $6,272
    Annual Gross Expense: $270,000
    Total Annual Expenses: $5,000
    Annual Trash Expense: $3,271
    Annual Water/Sewer Expense: $5,500
    Owner Expenses: Taxes
    Tenant Expenses: Taxes, Insurance, Water/Sewer, Electric, Fuel, Maintenance/Repair, Janitorial, Trash, Snow, Lawn, Percent Rent, Escalation

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $69,438
    Assessment Pending: Yes
    Taxes w/ Assessments: $77,321

    Income

    Annual Gross Income: 507084.00

    Rent

    Annual Net Income: $267,084

    Unit

    Total Units: 2

    Miscellaneous

    Current Use: Professional Service, Office
    Fuel System: Natural Gas
    Miscellaneous: 220 Volt, Three Phase
    Owner Occupied: N
    Sale Includes: Building, Land, Leases
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate, Electric Common, Hot Water Common
    Water System: City Water/Connected

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    Jason Roaldson
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    CrossCountry Mortgage NMLS#308253
    My goal is to be fair and accurate with anyone who trusts me to handle their financing. I believe that trust is the most important ingredient in the relationship between my client and me, which is why I focus on transparency with my clients so they understand from where all of the numbers in their transactions are derived. When trust is high and stress is low, purchases close on time. My Promise to you is we close on time, every time. We have open communication throughout the process, and I am accountable in all that I do. I am committed to serving you, I am committed to excellence, and I am committed to your 100% satisfaction. I am a 20 year veteran in the financing industry and have worked in every segment of the mortgage industry including banking, brokering, and correspondent lending. I have been fortunate to be a multi-year recipient of the Super Mortgage Professional designation given by the Twin Cities Business Magazine, the Minneapolis/St. Paul Magazine, and the Minnesota Monthly Magazine which are professional publications in my market.
    612.268.1503

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    Listing provided by RMLS, courtesy of Edina Realty, Inc.