554 3rd Street Nw, Elk River

$795,000

0 Beds
0 Baths
0 Sqft
.33 Acres
0 Garages

6,528 SF above ground, 9,792 SF including lower level. Approximately $68,000 in place NOI/8.6% Cap Rate. (3) lower level suites available at $300 each creating potential fully occupied Cap Rate of 9.9%. C-1 Central Commercial District zoning. Great multi-tenant office building investment opportunity. Excellent downtown Elk River location. Seller is replacing the main roof, and all the asphalt shingled mansard roof spring 2020. Two above ground levels, and one lower level. Common areas include 2 stairwells, elevator, and 6 restrooms. Well maintained building with brick front, architectural mansard roof, and arched window openings. Well maintained HVAC. The parking lot is in good shape, and has ample parking with approximately 32 spots. On street parking available as well. Building signage included for tenants.

Essential Information
MLS® #5487284
Price$795,000
Acres0.33
Year Built1961
TypeCommercial Sale
Sub-TypeOffice
StyleOffice
StatusActive
Community Information
Address554 3rd Street Nw
SubdivisionVillage Elk River
CityElk River
CountySherburne
StateMN
Zip Code55330
Amenities
GaragesOpen
Interior
HeatingForced Air
Exterior
ConstructionBrick/Stone,Block
Additional Information
ZoningBusiness/Commercial
Listing OfficeSummerhill Commercial Real
Listing Details
OfficeSummerhill Commercial Real
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Listing information last updated on May 26th, 2020 at 12:20am CDT.

Listing information last updated on May 21st, 2020 at 2:47pm CDT.