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$450,000  (list price)
/mo   Edit
Commercial:  Apartments/Retail
Built 1900
0.07 acres
Red Wing schools
MLS# 5654267
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    Description:   A gorgeous historic retail space with 2 apartment units in an exceptional location! With $300, 000 in rehab, 100's of hours of work, every aspect of this building is eye candy with high quality finishes. The main floor retail space features brand new maple floors, re-tuck pointed brick, and a new bathroom. A great opportunity for a clean slate retail opportunity with plenty of storage or workspace in the lower level. All of the utilities are new in the last six month or five years. Red Wing is a bustling river town including Red Wing Shoes, Riddell Hockey Skates, large marinas, and more!
    List Price: $450,000
    Sold Price: $429,000
    Sold Date: 04/01/2021
    Property Type: Commercial
    Listing Status: Sold
    Contingency: None
    Property Style: Apartments/Retail
    Year Built: 1900
    City: Red Wing
    County: Goodhue
    State: MN
    Zip Code: 55066


    Building Fin Sq Ft: 4,766 sqft
    Appliances Included: Refrigerator, Washer, Dryer, Gas Water Heater
    Total Ranges: Two
    Total Refrigerators: Two
    Basement Details: Full, Partially Finished, Stone/Rock, Storage Space


    Air Conditioning: Central Air
    Heating System: Forced Air, Radiant Floor
    Foundation Size: 2,386 sqft
    Unit Amenities: Washer/Dryer Hookup, Ethernet Wired, Hardwood Floors, Tiled Floors
    Road Frontage: City Street, Paved Streets, Curbs, Sidewalks
    Handicap Accessible: None
    Exterior Material: Brick/Stone
    Garage Spaces: 0
    Other Parking Spaces: 0
    Roof Details: Flat


    Acres: 0.07
    Latitude: 44.56477301
    Longitude: -92.53411198
    Lot Size Dim.: 4
    Dev/Complex Name: City/Red Wing
    Zoning: Business/Commercial, Residential-Multi-Family


    School District: 256
    District Phone: 651-385-4500


    Annual Insurance Expense: $1,000
    Annual Water/Sewer Expense: $1,320
    Tenant Expenses: Electricity, Cable TV

    Financial & Taxes

    Tax Year: 2020
    Annual Taxes: $6,058
    Assessment Pending: No
    Taxes w/ Assessments: $6,058


    Annual Gross Income: $59,400


    Annual Net Income: $57,080


    Total Rooms in Unit 1: 1
    Total Rooms in Unit 2: 1
    Total Units: 3


    Current Use: Retail, Other, Residential
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities: Heating Separate, Hot Water Common
    Water System: City Water/Connected

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    Local Home Mortgage Professionals

    Justin Larson
    Loan Officer
    Movement Mortgage
    Justin, the "Mortgage Man", is a senior loan officer who works with one of the nation top mortgage companies, Movement Mortgage! Justin has a dedicate team to streamline the home loan process. As a Veteran of Operation Iraqi Freedom and Eagle Scout he has a "service to others" attitude that put him well above his peers in the mortgage industry. Honesty, trust and friendship through solid and open communication is how he has built his success in the industry. The American Dream of owning a home is one of the largest purchases of most people lives. It’s a long process that can be frustrating, scary, and really confusing. He experienced this when purchasing his first couple of homes and looking back he wished he had a friend that would take the time to educate him on the best options for him and his family. This is the driving force of why I got into this industry.

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    Disclaimer: The information contained in this listing has not been verified by and should be verified by the buyer.