324 Lowell Avenue NW

Elk River, MN 55330 View Map $1,450,000 Schedule a Tour
On Site218 days
Year2022
Brandon Hedges & Matt Barker

Brandon Hedges & Matt Barker

(612) 730-6717

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Status: Active
Property Type:Commercial Sale
MLS #:6431730
On Site:218 Days
County:Sherburne
6.55% Cap Rate. 2022 built Caribou Cabin with prime Hwy 10 frontage. Triple net lease with 9 years remaining of the initial 10-year term. 10% rent increase after year 5. Three additional 5-year options with 10% rent increases after the initial 10-year term.

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$000 Monthly Payment
Loan and interest only.

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Price Change History

Date Old Price New Price Percent Change
10/25/2023$1,750,000$1,650,000-5.7%
11/29/2023$1,650,000$1,600,000-3%
1/26/2024$1,600,000$1,525,000-4.7%
4/9/2024$1,525,000$1,450,000-4.9%

Community Information

Address:324 Lowell Avenue NW, Elk River, MN 55330
County:Sherburne
School District:Elk River
Subdivision:Village Elk River
Zip Code:55330

Features / Amenities

Accessibility Features: No Stairs Internal
Cooling: Central Air
Heating: Forced Air
Fuel: Natural Gas

Property Features

Lot Dimensions:179x150x141x155
Lot Features: Corner Lot
Utilities: Electric Separate, Heating Separate, Hot Water Separate
Sewer: City Sewer/Connected
Water: City Water/Connected
Road Frontage: City Street, Paved Streets
Road Responsibility: Public Maintained Road
Zoning:Business/Commercial
Directions:Hwy 10 west to left on Lowell Ave.

Tax and Financial Info

Sale Includes: Building, Land, Leases
Tax Year: 2023
Tax Annual Amount: $4,444
Gross Income: $95,000
Net Income: $95,000
Tenant Pays: All Utilities, Insurance, Grounds Care, Repairs, Snow Removal, Taxes, Water

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324 Lowell Avenue NW Elk River,  MN 55330
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324 Lowell Avenue NW Elk River, MN 55330
 
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Listing Information Last Updated 4/17/2024
Listing provided courtesy of Acuity Group.
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