This fully leased commercial & multi-family investment property in beautiful downtown Waseca 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 when vacant. The current apartment tenant averages 5+ years and two are over 10 years providing you a stable tenant base. The rear 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.
|Property Use||Rental or Investment|
|Cap Rate Percentage||8.78|
|Style||Retail – Street Retail|
|Building Size||7,841 SF|
|Lot Size||0.13 AC|
Area Description: Waseca, only a short trip from the Twin Cities Metro, is a 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!
Region: United States
|Location Name:||Main Retail Thoroughfare|