For Sale: Maplewood MLS# 6543277
Active
$975,000
Commercial: Retail/Shopping Center
Built 1960
0.62 acres
North St Paul-Maplewood schools
MLS# 6543277
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Property Description
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.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$975,000
Property Type:
Commercial
City:
Maplewood
County:
Ramsey
Year Built:
1960
State:
MN
Property Style:
Retail/Shopping Center
Zip Code:
55109
Subdivision Name:
Gladstone, Ramsey Co, , Minn
Interior
Basement Details:
Full
Exterior
Stories:
Two
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
4,956 ft2
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Paved
Unit Amenities:
- Cable
- Security System
Exterior Material:
Brick/Stone
Roof Details:
- Age 8 Years or Less
- Flat
- Rolled/Hot Mop
- Rubber
Lot & Land
Acres:
0.62
Geolocation:
44.999607, -93.044823
Inclusions:
Building
Lot Dimensions:
1
Zoning:
Business/Commercial
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
622
District Phone:
651-748-7410
Expenses
Annual Electric Expense:
$11,232
Annual Insurance Expense:
$4,565
Annual Gross Expense:
$22,085
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$17,584
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$17,584
Income
Annual Gross Income:
$90,000
Rent
Annual Net Income:
$67,915
Units
Total Units:
9
Miscellaneous
Current Use:
- Beauty/Barber Shop
- Food Service
- Laundromat
- Office
- Professional Service
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Common
- Heating Separate
- Hot Water Common
- Hot Water Separate
Water System:
- City Water - In Street
- Well
Mortgage Calculator
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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 Keller Williams Premier Realty.
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.