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Active
$975,000
/mo Edit
Commercial:  Retail/Shopping Center
Built 1960
0.62 acres
North St Paul-Maplewood schools
MLS# 6543277
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    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.

    Listing

    Contingency: None
    City: Maplewood
    County: Ramsey
    State: MN
    Property Style: Retail/Shopping Center
    Zip Code: 55109
    Subdivision Name: Gladstone, Ramsey Co, , Minn

    Interior

    Basement Details: Full

    Exterior

    Stories: Two
    Other Parking Spaces: 0
    Air Conditioning: Central Air
    Foundation Size: 4,956 ft2
    Handicap Accessible: None
    Heating System: Forced Air
    Parking Features: Paved
    Unit Amenities:
    • Cable
    • Security System
    Exterior Material: Brick/Stone
    Roof Details:
    • Age 8 Years or Less
    • Flat
    • Rolled/Hot Mop
    • Rubber

    Lot & Land

    Acres: 0.62
    Geolocation: 44.999607, -93.044823
    Inclusions: Building
    Lot Dimensions: 1
    Zoning: Business/Commercial
    Lot Description:
    • Corner Lot
    • Public Transit (w/in 6 blks)
    • Tree Coverage - Light

    Schools

    School District: 622
    District Phone: 651-748-7410

    Expenses

    Annual Electric Expense: $11,232
    Annual Insurance Expense: $4,565
    Annual Gross Expense: $22,085

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $17,584
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $17,584

    Income

    Annual Gross Income: $90,000

    Rent

    Annual Net Income: $67,915

    Units

    Total Units: 9

    Miscellaneous

    Current Use:
    • Beauty/Barber Shop
    • Food Service
    • Laundromat
    • Office
    • Professional Service
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Common
    • Electric Separate
    • Heating Common
    • Heating Separate
    • Hot Water Common
    • Hot Water Separate
    Water System:
    • City Water - In Street
    • Well

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

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    Listing provided by RMLS, courtesy of Keller Williams Premier Realty.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.