For Sale: Mendota Heights MLS# 6432139
Active
$569,900
Commercial: Office
Built 1977
0.38 acres
West St. Paul-Mendota Hts. schools
MLS# 6432139
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Property Description
Great opportunity for an investor. 7.0+% Cap Rate on this Double Net Leased Property. This large lot at a cul-de-sac is a commercial building that is 100% occupied by the Bridge Autism Clinic who operates during daily normal business hours. They have more than 3 years left on their lease with annual increases. Tenant pays for all operating expenses except Taxes and Insurance. Has had many upgrades within the past few years. Great Unique Investment Opportunity!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$569,900
Property Type:
Commercial
City:
Mendota Heights
County:
Dakota
Year Built:
1977
State:
MN
Property Style:
Office
Zip Code:
55120
Interior
Appliances Included:
- Range
- Refrigerator
Exterior
Other Parking Spaces:
4
Air Conditioning:
Central Air
Foundation Size:
1,962 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Concrete
- Parking Lot
Exterior Material:
Wood Siding
Lot & Land
Acres:
0.38
Geolocation:
44.864314, -93.130943
Inclusions:
Building, Land
Lot Dimensions:
20 x 12 x 92 x 143 x 113 x 141
Zoning:
Business/Commercial
Schools
School District:
197
District Phone:
651-403-7002
Expenses
Annual Insurance Expense:
$870
Annual Gross Expense:
$11,802
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$3,582
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$3,582
Income
Annual Gross Income:
$59,535
Rent
Annual Net Income:
$47,733
Units
Total Units:
1
Miscellaneous
Current Use:
- Commercial
- Office
- Other
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
- City Sewer - In Street
- Mound Septic
- Septic System Compliant - Yes
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
Well
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Blackbridge Real Estate.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.