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211 Main Street N in Stewartville MN
OPPORTUNITY KNOCKS WITH THIS PREMIER DOWNTOWN STEWARTVILLE, MINNESOTA LOCATION!! HISTORIC 1896 BUILT MIXED-USE FEATURING TWO LARGE MAIN FLOOR RETAIL COMMERCIAL SPACES. ONE SIDE HAS BEEN RECENTLY LEASED FOR TWO YEARS TO A JEWELRY MAKER FOR $800/MONTH. THE OTHER RETAIL SPACE WAS AN ANTIQUE STORE AND CURRENTLY VACANT. IT WOULD BE PERFECT FOR AN OWNER USER. THE SECOND FLOOR OFFERS FIVE APARTMENTS WITH TWO CURRENTLY RENTED FOR $750 & $950 A MONTH. APARTMENT UNIT MIX IS THREE 2BD, 1BA, ONE 1BD, 1BA, AND ONE STUDIO, 1BA. COIN LAUNDRY IS OWNED (ONE WASHER & ONE DRYER). ALL BRICK EXTERIOR WITH STONE WINDOW SILLS AND LARGE WINDOWS. ALL UTILITIES ARE SEPARATELY METERED WITH ALL NEW ELECTRICAL WIRING AND SERVICE PANELS DONE IN LAST 20 YEARS. THE SALE INCLUDES AN EXTRA PARCEL IN THE REAR ALLEY THAT IS 28 FEET BY 95 FEET AND HAS ROOM FOR NINE OFF-STREET PARKING SPOTS. A NEW OWNER COULD BUILD GARAGES OR STORAGE UNITS ON THIS LOT. THIS PROPERTY NEEDS A LOT OF COSMETIC WORK AND IS THE PERFECT INVESTOR VALUE-ADD OPPORTUNITY!!!
Property Description
OPPORTUNITY KNOCKS WITH THIS PREMIER DOWNTOWN STEWARTVILLE, MINNESOTA LOCATION!! HISTORIC 1896 BUILT MIXED-USE FEATURING TWO LARGE MAIN FLOOR RETAIL COMMERCIAL SPACES. ONE SIDE HAS BEEN RECENTLY LEASED FOR TWO YEARS TO A JEWELRY MAKER FOR $800/MONTH. THE OTHER RETAIL SPACE WAS AN ANTIQUE STORE AND CURRENTLY VACANT. IT WOULD BE PERFECT FOR AN OWNER USER. THE SECOND FLOOR OFFERS FIVE APARTMENTS WITH TWO CURRENTLY RENTED FOR $750 & $950 A MONTH. APARTMENT UNIT MIX IS THREE 2BD, 1BA, ONE 1BD, 1BA, AND ONE STUDIO, 1BA. COIN LAUNDRY IS OWNED (ONE WASHER & ONE DRYER). ALL BRICK EXTERIOR WITH STONE WINDOW SILLS AND LARGE WINDOWS. ALL UTILITIES ARE SEPARATELY METERED WITH ALL NEW ELECTRICAL WIRING AND SERVICE PANELS DONE IN LAST 20 YEARS. THE SALE INCLUDES AN EXTRA PARCEL IN THE REAR ALLEY THAT IS 28 FEET BY 95 FEET AND HAS ROOM FOR NINE OFF-STREET PARKING SPOTS. A NEW OWNER COULD BUILD GARAGES OR STORAGE UNITS ON THIS LOT. THIS PROPERTY NEEDS A LOT OF COSMETIC WORK AND IS THE PERFECT INVESTOR VALUE-ADD OPPORTUNITY!!!
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $229,000 |
| No. of Units: | 7 |
| Cap Rate: | 8.73% |
| GRM /GIM: | 7.63 |
| Average Occupancy: | 50 |
| Year Built: | 1896 |
| Year Renovated: | 2000 |
| Building Size: | 7,560 Sq ft |
| Lot Size: | 0.19 Acres |
| No. of Stories: | 2 |
| APN: | 54-34-24-029669 |
| Zoning Code: | Retail Commercial / Mixed-Use |
| Opportunity Zone: | No |
| Price per unit: | $32,714 |
| Parking Spaces: | 11 |
| Property Website | Click Here |
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