For Sale: Austin MLS# 7027598
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Check out this large mixed use building right in the middle of downtown Austin. The building collects a lot of rent and has low expenses. While we are still waiting on confirmation of expenses, we estimate a cap rate of around 10 and annual cash on cash return to be over 20% with 25% down. This building does need some work and there's a value add component to it. However, the cash flow on this one is amazing.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$459,900
Property Type:
Commercial
City:
Austin
Garage Spaces:
0
County:
Mower
Year Built:
1883
State:
MN
Property Style:
Other
Zip Code:
55912
Exterior
Garage Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
4,200 ft2
Foundation Dimensions:
40 X 105
Handicap Accessible:
Other
Heating System:
Forced Air
Parking Features:
None
Lot & Land
Acres:
0.096
Geolocation:
43.668856, -92.975157
Inclusions:
Building, Leases
Lot Dimensions:
40 X 125
Zoning:
Business/Commercial
Schools
School District:
1825
District Phone:
5074601900
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,200
Annual Fuel Expense:
None
Annual Insurance Expense:
$4,800
Annual Maintenance Expense:
$6,816
Annual Water/Sewer Expense:
$2,400
Tenant Expenses:
Electricity, Gas, Heat
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$4,010
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$4,010
Income
Annual Gross Income:
$75,600
Rent
Annual Net Income:
$53,000
Units
Total Units:
6
Miscellaneous
Current Use:
Commercial
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric 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.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Pemberton RE.
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.