42 Downtown Plz - Apartments FOR SALE


Fairmont, MN 56031
$595,000 USD
651-500-4720
42 Downtown Plz, Fairmont, MN for Sale
$595,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

42 Downtown Plz
Fairmont, MN 56031


HIGHLIGHTS

  • Location! Location! Location! Walk to everything downtown. One block to Ward park on the Lake Sisseton. Great signage and visibility!

OVERVIEW

Commercial mixed-use investment opportunity in the heart of Downtown Fairmont, MN. This two-story concrete and brick building is approximately 7,200 sq. ft. per level. It offers a strong value-add potential with existing income and leasing upside. The main level includes a new nail salon. It features high-end TI and equipment. The is also a 5677 sq. ft. warehouse/flex space on the main level with one drive-in overhead door. The second floor consists of ten apartments plus a common laundry area. This creates an attractive mix of residential and commercial income streams. Positioned in a prime downtown location, this property offers investors the opportunity to increase occupancy and maximize returns. Call Kev today for a private tour!

FOR SALE DETAILS

PRICE

$595,000 USD

PRICE/SF

$42 USD /SF

# OF UNITS

12

PRICE/UNIT

$49,583

CAP RATE

Request Cap Rate

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

42 Downtown Plaza

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1946

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,166 SF

ZONING

mixed

APN/PARCEL ID

232690200

ASK ABOUT THIS PROPERTY

Kevin GoettlKevin GoettlMore Info
651-500-4720

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Kevin GoettlKevin GoettlMore Info
651-500-4720

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.