$2,500,000
Shoreview, MN 55126
MLS# 6147378
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Property Description
Great opportunity to acquire a well-maintained commercial office building in prime Shoreview! Highly visible location just off Lexington Ave., with close proximity to highly populated residential areas, retail, and easy access to freeways. Plenty of parking with a private freshly re-paved parking lot, freshly updated lobby, brand new elevator, and so much more. This attractive building features over 28,000 square ft. currently 100% occupied with a mix of long and short term tenants. Lots of new capital improvements in the past 24 months. Great Cash Flow.
Details
Maps
None
MLSID: RMLS
Contract Information
Status: Active
Current Price: $2,500,000
Contingency: None
ListPrice: 2500000
List Date: 2022-02-01
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 130
Owner Occupied: No
Year Built: 1979
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 9385
For Sale or Lease: For Sale
Acres: 2.19
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: EX N 512.03 FT OF W 344 FT & EX E 200 FT OF N 400 FT; THE W 544 FT OF N 1/2 OF N 1/2 OF NW 1/4 (SUBJ TO RDS & ESMTS) OF SEC 35 TN 30 RN 23
Listing City: Shoreview
Map Page: 93
Municipality: Shoreview
Rental License?: No
School District Phone: 651-621-6001
Map Coordinate Source: RETS
House Number: 3550
Street Name: Lexington
Street Suffix: Avenue
Street Direction Suffix: N
Postal City: Shoreview
County: Ramsey
State: MN
Zip Code: 55126
Zip Plus 4: 2705
Property ID Number: 353023220003
Complex/Dev/Subdivision: Section 35 Town 30 Range 23
Tax Year: 2023
Tax Amount: 52408
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Great opportunity to acquire a well-maintained commercial office building in prime Shoreview! Highly visible location just off Lexington Ave., with close proximity to highly populated residential areas, retail, and easy access to freeways. Plenty of parking with a private freshly re-paved parking lot, freshly updated lobby, brand new elevator, and so much more. This attractive building features over 28,000 square ft. currently 100% occupied with a mix of long and short term tenants. Lots of new capital improvements in the past 24 months. Great Cash Flow.
Directions: Shoreview Ave N. Pull into parking lot.
Assessments
Tax With Assessments: 52408
Building Information
Building Finished SqFt: 28155
Building SqFt: 28155
Income and Expenses
Annual Gross Expenses: 146200
Annual Gross Income: 331200
Annual Insurance Expense: 7000
Annual Net Income: 185000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 23
Section#: 35
Township#: 30
Sale Options
Sale Includes: Building, Land, Leases
Unit Details
Total Units: 28
Property Features
Accessible: Accessible Elevator Installed
CMU Style: Office
Construction Status: Previously Owned
Current Use: Office
Exterior: Brick/Stone
Fuel: Natural Gas
Heating: Other
Internet Options: Cable; Fiber Optic
Loan Terms: Cash; Special Funding; Other
On Site Utilities: None Available
Parking Characteristics: Paved Lot
Road Frontage: City Street
Sewer: City Sewer/Connected
Stories: Three Or More
Tenant Pays: Other
Water: City Water/Connected
Listing Office: Monoceros Real Estate
Last Updated: April - 25 - 2024
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