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Maplewood,MN 55109
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Subdivision Gladstone, Ramsey Co, , Minn
MLS Listing ID 6543277
Year Built 1960
Annual Tax Amount $17,584
Tax Year 2024
Contingent None
Lot Size 0.620 Acres
Acres 0.62
Lot Dimensions 1
Property Description
Prime investment opportunity: fully leased 6-unit strip mall in Maplewood. This thriving community is undergoing significant development, including three new multi-family buildings with over 150 units, promising increased foot traffic and business growth. The strip mall boasts a 7% cap rate offering excellent returns with 100% occupancy and no vacancies. A long-standing laundromat, a local staple since the 1960's, ensures tenant stability and consistent patronage. This property guarantees immediate rental income from its fully leased units. Located in a bustling area with growing infrastructure, the strip mall is set to benefit from the influx of new residents and shoppers. The property includes a rare onsite well, eliminating city water bills and reducing costs to just outgoing sewer expenses. This investment promises long-term growth and solid return, making it a perfect addition to your portfolio. Don't miss out on this fantastic opportunity in Maplewood.
Location
State MN
County Ramsey
Zoning Business/Commercial
Rooms
Basement Full
Kitchen Prep Station
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building
Fireplace No
Exterior
Parking Features Paved
Utilities Available Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Separate
Roof Type Age 8 Years or Less,Rolled/Hot Mop,Flat,Rubber
Present Use Beauty/Barber Shop,Food Service,Laundromat,Office,Professional Service
Building
Lot Description Public Transit (w/in 6 blks),Corner Lot,Tree Coverage - Light
Story Two
Foundation 4956
Sewer City Sewer/Connected
Water City Water - In Street,Well
Level or Stories Two
Structure Type Brick/Stone
Schools
School District North St Paul-Maplewood