Call Us Contact
COVID-19 UPDATE:
How does the pandemic impact me?

My notes for this property


Add listing to my favorites (required)
Active
Listed
$299,900
/mo   Edit
MLS# 5489935
Commercial
Built 1997
Forest Lake schools
My rating:
Request a Showing:
Agent
Ask the Agent

Ask the Agent

    Property inquiries submitted online are continually monitored to provide the best possible service.







    Thank You!

    An agent will be in contact with you soon to answer your question.

    Description:   Investment opportunity! Start earning income immediately. Two leased business condo units (Separate PID's - same tenant). High visibility location in growing Forest Lake. Located on Hwy 97 with high traffic counts and an area of town with lots of recent redevelopment. Across from high school and middle school with easy access. Association takes care of most duties and costs, very limited management time required. Tenants pay utilities. Great property to add to or start an investment portfolio. Great option for 1031 exchange.
    List Price: $299,900
    Price/sq ft: None
    Property Type: Commercial
    Listing Status: Active
    Contingency: None
    Year Built: 1997
    City: Forest Lake
    County: Washington
    State: MN
    Zip Code: 55025

    Interior

    Building Fin Sq Ft: 3,540 ft²

    Exterior

    Air Conditioning: Central
    Heating System: Forced Air
    Foundation Size: 3,540 ft²
    Shared Amenities: Fire Sprinkler System
    Road Frontage: State, Paved Streets
    Handicap Accessible: No Stairs Internal, No Stairs External
    Exterior Material: Brick/Stone, Metal, Vinyl
    Garage Spaces: 0
    Other Parking Spaces: 25
    Roof Details: Asphalt Shingles, Pitched

    Lot

    Acres: 0
    Lot Description: Zero Lot Line
    Latitude: 45.26065700
    Longitude: -92.97964300
    Lot Size Dim.: 60x30 per unit+/-
    Dev/Complex Name: CIC 111
    Zoning: Business/Commercial

    Schools

    School District: 831 - Forest Lake
    District Phone: 651-982-8103

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Gross Expense: $12,000
    Total Annual Expenses: $12,000
    Annual Trash Expense: None
    Annual Water/Sewer Expense: None
    Owner Expenses: Taxes, Maintenance/Repair
    Tenant Expenses: Water/Sewer, Electric, Fuel, Janitorial

    Financial & Taxes

    Tax Year: 2019
    Annual Taxes: $7,000
    Assessment Pending: No
    Taxes w/ Assessments: $7,000

    Income

    Annual Gross Income: 28800.00

    Rent

    Annual Net Income: $16,800

    Unit

    Total Units: 2
    Unit Number: 4B-5B

    Miscellaneous

    Current Use: Business Service, Professional Service, Commercial, Retail
    Fuel System: Natural Gas
    Owner Occupied: N
    Sale Includes: Building, Leases, Land
    Sewer System: City Sewer/Connected
    Utilities: Heating Separate, Electric Separate, Hot Water Separate
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Get to know our Home Mortgage Professionals

    Justin
    Larson
    Movement
    Jeff
    Zajac
    TruStone
    Jason
    Roaldson
    CrossCountry
    Justin Larson
    Loan Officer
    Movement Mortgage NMLS#1490922
    Justin, the "Mortgage Man", is a senior loan officer who works with one of the nation top mortgage companies, Movement Mortgage! Justin has a dedicate team to streamline the home loan process. As a Veteran of Operation Iraqi Freedom and Eagle Scout he has a "service to others" attitude that put him well above his peers in the mortgage industry. Honesty, trust and friendship through solid and open communication is how he has built his success in the industry. The American Dream of owning a home is one of the largest purchases of most people lives. It’s a long process that can be frustrating, scary, and really confusing. He experienced this when purchasing his first couple of homes and looking back he wished he had a friend that would take the time to educate him on the best options for him and his family. This is the driving force of why I got into this industry.
    320-296-9177

     Residential Loan Pre-Qualification Form

    To get started on your loan pre-qualification, please complete the form below. A loan officer will need to gather additional information in order to determine your eligibility for a loan.

    to

    I would like to get pre-qualified:  

    I am interested in buying:  

    I plan to use my new home as:  

    I want to finance using:  

    Loan term:  

    I am interested in down payment assistance:  

    Down payment amount:  

    I am married:  

    I am currently renting:  

    My credit score:  

    Comments/Questions:  

    Listing provided by RMLS, courtesy of Realty Executives Top Results