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July 13, 2020

Retail/Shopping Center For Sale in Lutsen, Minnesota

Property # 1178717 Available $1,050,000.00

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   Property Information

Property Sub-TypeStrip Center
Other Retail Space
Other RetailResidential Rental
Property NameClearview Building
Property Address 15325 W Hwy 61
Property Address 2n.a.
Property Town/CityLutsen
Property CountyCook
Property StateMinnesota
Property ZIP/Postal Code 55612
MLS #n.a.
Current UseNet-Leased
Building Sq. Ft.10,000
Gross Leasable Sq. Ft.10,000
No. Floorsn.a.
Lot Size Acres3
Lot Frontage Ft.400
Lot Depth Ft.n.a.
No. Parking Spacesn.a.
Year Built1930
Year Last Renovatedn.a.
Construction Typeblock and frame
Property Description Commercial and residential rental property all leased. 5 commercial and four apartment rentals. Building is 100 x 40 with 2 full levels and loft plus 40 x 42 garage. Good cash flow for investment with steady tenants on approximately 3 acres with 400+ feet of Hwy 61 frontage.
Area DescriptionLutsen, MN is a year round vacation destination. Lutsen Mountains ski hill is minutes away. Camping, hiking, hunting, canoeing, fishing all right there. On the shores of Lake Superior on the North Shore of MN

   Financial Information

Sales Price $$1,050,000.00
Gross Revenue $$121,932.00
Total Expenses $n.a.
Taxes $n.a.
Net Operating Income $$94,844.00
Cap Rate0.00%
Occupancy Rate0.00%
Price Per Leasable Sq. Ft. $n.a.
Year Ending2020
1031 Exchange?n.a.
Financing/Termscash sale

   Major Tenants

Tenant #1n.a.
Sq. Ft. #1n.a.
Lease Ends #1n.a.
Tenant #2n.a.
Sq. Ft. #2n.a.
Lease Ends #2n.a.
Tenant #3n.a.
Sq. Ft. #3n.a.
Lease Ends #3n.a.
Tenant #4n.a.
Sq. Ft. #4n.a.
Lease Ends #4n.a.
Tenant #5n.a.
Sq. Ft. #5n.a.
Lease Ends #5n.a.

This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information.
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