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Active
$2,500,000
/mo Edit
Commercial:  Office
Built 1979
2.19 acres
Mounds View schools
MLS# 6147378
My rating:
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    Property Description

    Great opportunity to acquire a well-maintained commercial office building in prime Shoreview! Highly visible location just off Lexington Ave., with close proximity to highly populated residential areas, retail, and easy access to freeways. Plenty of parking with a private freshly re-paved parking lot, freshly updated lobby, brand new elevator, and so much more. This attractive building features over 28, 000 square ft. currently 100% occupied with a mix of long and short term tenants. Lots of new capital improvements in the past 24 months. Great Cash Flow.

    Listing

    Contingency: None
    City: Shoreview
    County: Ramsey
    State: MN
    Property Style: Office
    Zip Code: 55126
    Subdivision Name: Section 35 Town 30 Range 23

    Exterior

    Stories: Three Or More
    Garage Spaces: 0
    Other Parking Spaces: 130
    Foundation Size: 9,385 ft2
    Handicap Accessible: Accessible Elevator Installed
    Heating System: Other
    Parking Features: Paved
    Road Frontage: City Street
    Exterior Material: Brick/Stone

    Lot & Land

    Acres: 2.19
    Geolocation: 45.0486202068, -93.1459043236
    Inclusions: Building, Land, Leases
    Lot Dimensions: 0
    Zoning: Business/Commercial

    Schools

    School District: 621
    District Phone: 651-621-6001

    Expenses

    Annual Insurance Expense: $7,000
    Annual Gross Expense: $146,200
    Tenant Expenses: Other

    Financial & Taxes

    Tax Year: 2023
    Annual Taxes: $52,408
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $52,408
    Land Lease Amount: 0

    Income

    Annual Gross Income: $331,200

    Rent

    Annual Net Income: $185,000

    Units

    Total Units: 28

    Miscellaneous

    Current Use: Office
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities: None
    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

    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.
    It would be our pleasure to assist you with your home purchase!

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    Listing provided by RMLS, courtesy of Monoceros Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.