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PRICE REDUCED! Lazy Brook Square For Sale

Listed by Chris Close


Property Description: PRICE REDUCED TO $185,000 FROM $199,000! Great opportunity to invest in Nisswa. Lazy Brook Square is an office strip center located along the Hwy 371 corridor, just south of the stoplight intersection. Ideal for an investor looking for cashflow or an owner/user looking to occupy one of the four spaces. Enjoy excellent exposure with frontage along the busy Hwy 371 corridor.

Listing Details

mls: 4631162
CC File #: 1381
Address: 5445 Lazy Brook Drive / Hwy 371
City: Nisswa
State: MN
Zip: 56468
Zoning: UR - Urban Residential
PID#: 28117000012A009
Legal Description: Part of Lot 12 lying N of N'ly line of new US Hwy #371 & N of a cont of sd line to N'ly line of sd lot exc W 60 ft thereof exc Hwy
Lot Size : Acres: 0.85
Lot Size : Sq.Ft.: 37,026
Building Size : Total Sq. Ft.: 2,800
Building Size : Main Level Sq. Ft.: 2,800
Sale Price: $185,000.00
Original Price: $199,000.00
Price Note: See agent for current lease rates and lease details. Cap Rate is based on estimated 2018 Cash Flow - See Brochure.
Annual Cash Flow: $16,000.00
Cap Rate: 8.7

Directions: From the Baxter Hwy 210/371 intersection - North on Hwy 371 towards Nisswa - Left on Colonel Thorp Lane at the stoplights in Nisswa - Left on Hazelwood Drive - Left on Lazy Brook Drive - Property is on the right
Property Features & Assets: 2,800 SF Total - Unit #1: 1,200 SF (NHH Building & Restoration) - Unit #2: 400 SF (Allied Machinery) - Unit #3: 400 SF (Crosslake Insurance of Nisswa) - Unit #4: 800 SF (Hoffbeck Electric)

Property Features

Build Out: Turn-Key
Water: Well (New May 2015)
Sewer: City
Heating: Unit 1: Natural Gas Forced Air; Units 2-4: Electric Baseboard
Cooling: Unit 1: Central Air (Electric Ground Unit); Units 2-4: Wall Units
Electric : Amps: 100
Electric : Phase: Single
Lighting: Fluorescent
Year Built: 1970
Year Remodeled: 1999 (Complete - Electric, Plumbing, Insultation, Heat, etc.)
Construction: Wood Frame
Foundation: Concrete
Roof: Asphalt Shingles
Exterior: 1/4 Log Pine Siding, Cedar Shakes & Brick
Traffic Counts: 6,700 on Hwy 371
Property Tax Year: 2017
Annual Property Tax: $4,880.00
Ceiling Height: Unit 1: 8'; Units 2-4: 10' Vaulted
Floor Drains: 6
Bathrooms: 4 (One per Unit)
Security: Unit 1: Yes; Units 2-4: None
High-Speed Internet: Yes
Parking Spaces: 25+ Paved Asphalt Spaces
Road Frontage: Approx. 325' along Hwy 371 and 220' along Lazy Brook Drive
Adjacent Tenants: Current Tenants: Allied Machinery, Ouradnik Insurance Agency, and Hoffbeck Electric
Neighboring Businesses: Located along the Hwy 371 corridor, neighboring businesses include Belle Cheveux Salon, Personality Plus, Nisswa Automotive, Kids Against Hunger, Mn Power, Christ Community Church, Petals & Beans, Animal House, Structures International, Nisswa Commons, Wendy's, Subway, Dairy Queen, Schaefer's Foods, Spirits of Nisswa, Holiday Gas, Gull Dam Brewing, plus many other unique retail/food/specialty shops within the town of Nisswa.
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Information provided by members of Greater Lakes Association of Realtors. Copyright 2009 Greater Lakes Multiple Listings Service. All rights reserved. Information is deemed reliable but not guaranteed.