1321 Frost AVE, Maplewood, MN 55109 - MLS#6543277

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Tiffhanie Zheng

tiff@zhengteam.com +1(612) 227-5537

$975,000

Est. payment - /mo

0.62 Acres Lot

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UPDATED:

09/20/2024 06:57 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Subdivision Gladstone, Ramsey Co, , Minn

MLS Listing ID 6543277

Year Built 1960

Annual Tax Amount $17,584

Tax Year 2024

Contingent None

Lot Size 0.620 Acres

Acres 0.62

Lot Dimensions 1

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.

Location

State MN

County Ramsey

Zoning Business/Commercial

Rooms

Basement Full

Kitchen Prep Station

Interior

Heating Forced Air

Cooling Central Air

Inclusions Building

Fireplace No

Exterior

Garage Paved

Utilities Available Electric Common, Electric Separate, Heating Common, Heating Separate, Hot Water Common, Hot Water Separate

Roof Type Age 8 Years or Less,Rolled/Hot Mop,Flat,Rubber

Present Use Beauty/Barber Shop,Food Service,Laundromat,Office,Professional Service

Building

Lot Description Public Transit (w/in 6 blks), Corner Lot, Tree Coverage - Light

Story Two

Foundation 4956

Sewer City Sewer/Connected

Water City Water - In Street, Well

Level or Stories Two

Structure Type Brick/Stone

Schools

School District North St Paul-Maplewood

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Listed by Vance Ross • Keller Williams Premier Realty

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Tiffhanie Zheng

+1(612) 227-5537

Agent | License ID: 40604452

Agent License ID: 40604452

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