$795,000

Property Description

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.

Property Features

  •  0.330
  •  Business/Commercial
    • Heating Common
    • Electric Common
  •  City Sewer/Connected
  •  City Water/Connected
  • Exterior Features

    • Brick/Stone
    • Block
  •  Uncovered/Open
  •  CMU
  • Interior Features

  •  Forced Air
  • School Information

    • 728 - Elk River
    Courtesy of Summerhill Commercial Real

    Schedule to See Homes


    Ellie Christian

    7632808527



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