For Sale: Lake City MLS# 7003667
Active
NEW!
$629,900
Commercial: 2 Stories
9 br • 5 ba • Built 1900
13.07 acres
MLS# 7003667
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Property Description
Start 2026 with an Exceptional Investment Opportunity!
This versatile 13-acre income-producing property features four residential rental units along with 37+ storage units, offering an excellent rental history and strong, consistent income potential. This property is ideal for investors seeking both stability and growth.
Residential unit 1 & 2: Up/down duplex with separate entrances. Main floor unit is 2 bed, 1 bath and has approximately 1028 SQFT of living space. Laundry in unit. Upper level unit has 1 bed, 1 bath, laundry hookups and is approximately 480 SQFT of living space.
Residential unit 3: 3 bed, 1 bath mobile home that offers approximately 980 SQFT of living space. Laundry in-unit.
Residential unit 4: 3 bed, 2 bath mobile home that offers 1216 SQFT of living space. Laundry in-unit. Private driveway access.
STORAGE
East building (old hog barn): consist of 18 10x20 cold storage units. Separate driveway access from residential units.
Red barn: 10 cold storage units. Separate driveway access from residential properties.
Pole shed: 50x80, concrete floor, electricity, and water available. Used for boat/car storage and also offers separate shop space that is currently rented.
Additional miscellaneous storage units are located throughout the property. See supplements for info.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$629,900
Property Type:
Commercial
City:
Lake City
Garage Spaces:
4
County:
Wabasha
Year Built:
1900
State:
MN
Property Style:
2 Stories
Zip Code:
55041
Interior
Bedrooms:
9
Bathrooms:
5
Refrigerators:
Four
Appliances Included:
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
Unfinished
Exterior
Stories:
Two
Garage Spaces:
4
Air Conditioning:
Window Unit(s)
Foundation Size:
1,028 ft2
Fencing:
Other, Privacy
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Gravel
Unit Amenities:
Washer/Dryer Hookup
Road Frontage:
Township
Exterior Material:
- Frame
- Stone
Roof Details:
Asphalt
Lot & Land
Acres:
13.07
Geolocation:
44.340171, -92.393986
Inclusions:
Building
Lot Dimensions:
876 x 646 x 876 x 646
Zoning:
Residential-Multi-Family
Lot Description:
- Suitable for Horses
- Tree Coverage - Medium
Farm
Topography:
Gently Rolling
Schools
School District:
2281
District Phone:
6513452198
Expenses
Tenant Expenses:
All Utilities, Electricity, Gas, Heat
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$6,460
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$6,460
Income
Annual Gross Income:
$66,000
Units
Total Units:
41
Miscellaneous
Current Use:
- Residential
- Storage Facility
Fuel System:
Propane
Owner Occupied:
No
Sewer System:
Private Sewer
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
- Private
- Well
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Lakeshore Real Estate Krage & Associates, LLC..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.