For Sale: Frazee MLS# 6491367
Active
$1,650,000
Commercial: Other
Built 1998
10.41 acres
Frazee-Vergas schools
MLS# 6491367
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Property Description
9% Cap Rate! Albertson Lake MHC is ready for a lucky new owner to take over a great opportunity. This is a rare opportunity to buy an income producing park in the heart of lakes country. Frazee is a small community located just off Hwy 10 between Detroit Lakes and Frazee. You won't find many MHC's maintained and improved like this one. Comprised of 31 lots (room to add) Albertson Lake MHC sits on a nearly 11 acre lot with 580 FF overlooking Albertson Lake. City water, sewer, and asphalt paved road updated in 2022. There is a 30x30 shop with full basement (storm shelter) located at the rear of the property towards the lake. 11 trailers owned by park, the remaining are all lot rents. Inquire today for financial info, and start or improve your investment portfolio!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,650,000
Property Type:
Commercial
City:
Frazee
Garage Spaces:
2
County:
Becker
Year Built:
1998
State:
MN
Property Style:
Other
Zip Code:
56544
Exterior
Garage Spaces:
2
Garage Dimensions:
30x30
Garage Size:
900 ft2
Other Parking Spaces:
31
Foundation Size:
900 ft2
Foundation Dimensions:
30x30
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- More Parking Onsite for Fee
- RV Access/Parking
Exterior Material:
Steel Siding
Lake & Waterfront
Waterfront Present:
Y
Waterfront Name:
Albertson
Waterfront View:
Lake
DNR Lake ID#:
03026600
WF Frontage:
580
Lake Chain Name:
N
Lake Acres:
73
Lake Depth:
0
Waterfront:
Lake Front
Lot & Land
Acres:
10.41
Geolocation:
46.72265450, -95.69279027
Inclusions:
Building, Business Assets, Land, Leases, Other
Lot Dimensions:
Irregular
Zoning:
Business/Commercial
Lot Description:
- Accessible Shoreline
- Irregular Lot
- Tree Coverage - Light
- Underground Utilities
Schools
School District:
23
District Phone:
218-334-3181
Expenses
Annual Caretaker Expense:
$4,200
Annual Insurance Expense:
$4,200
Annual Gross Expense:
$24,338
Annual Trash Expense:
$491
Annual Water/Sewer Expense:
None
Tenant Expenses:
All Utilities, Cable TV, Electricity, Insurance, Sewer, Trash Collection, Water
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$9,202
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,202
Income
Annual Gross Income:
$171,900
Rent
Annual Net Income:
$147,562
Units
Total Units:
31
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
- Electric
- Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
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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 The Real Estate Company of Detroit Lakes.
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.