Contact for Price SALE
29,702 SF
State Street
Waseca, MN 56093

Waseca Investment Properties

The sale includes two must-see investment properties located on State Street in Waseca. 118 S State Street is FULLY LEASED! This mixed-use property in downtown Waseca is comprised of high foot-traffic commercial space and 10 residential units, fully leased. Residential units consist of a ground level single-bedroom apartment (ADA compliant), four second level two-bedroom apartments and five second level one-bedroom units. This corner lot building also features off-street tenant parking in the rear alley is a must see investment opportunity. 208 N State Street is a fully leased mixed-use investment property in beautiful downtown Waseca that has both charm and modern updates. With stable commercial tenants and a strong rental history, this investment property is a must see. The current owners took great pride in updated the apartments with modern kitchens and bathrooms. The current apartment tenant averages 5+ years and two are more than 10 years providing you a stable tenant base. The back of the building offers tenants on-site parking with additional capacity in the adjacent municipal parking lot. Additional highlights include onsite coin laundry providing additional amenities and revenue plus over $8,500.00 in apartment updates in 2018. For more information about this listing, please click here.

Property Type Commercial-Other
Tax Year 2019
Listing ID 3ZVPYZ
Style Other Style
Building Size 29,702 SF
Available Date Sep 23rd, 2020
Taxes $17,458

Property Highlights

17 Apartments - many with updates

Mixed Use Investment Opportunity

Stable Tenant Base

7 Commercial Suites

Area Description

Area Description: Waseca, only a short trip from the Twin Cities Metro, is also straight shot along MN HWY 13 from Prior Lake and Savage. This quaint downtown offers unique specialty shopping, plus hospitality and service businesses. There are two lakes in the city and various large employers including a University of Minnesota Research Campus, Walmart and a Mayo Clinic Health System Clinic. This charming community is a great opportunity for investors!

Additional Media Area Demographics