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SOLD! Excellent Investment Opportunity

Listed by Chris Close

SOLD: MULTI-TENANT BLDG: 6TH ST NW, BRAINERD

Property Description: SOLD! Fantastic investment opportunity at a prime corner location just off the busy Washington Street / Hwy 210 corridor in Brainerd. This turn-key office/retail center currently has two solid tenants with additional space for a single office user. Located across from McDonalds, tenants enjoy corridor visibility and ample traffic counts.

Listing Details

CC File #: 1445
Address: 301 & 307 6th Street NW
City: Brainerd
State: MN
Zip: 56401
Zoning: B4-General Business
PID#: 09198046001N009
Legal Description: The N'ly 2 ft of vacated Charles Street from the W line of the NW 6th Street to a point 115 ft W'ly of said line adjacent to the E'ly 115 ft of Lot 1 Block 46, and Lots 1 & 2 & the S 1/2 of Lot 3 Block 46, except the W'ly 25 ft thereof.
Lot Size : Acres: 0.33
Lot Size : Sq.Ft.: 14375
Lot Dimensions: 125' x 115'
Building Size : Total Sq. Ft.: 4,000
Building Size : Main Level Sq. Ft.: 4,000
Sale Price: $249,000.00
Annual Cash Flow: $25,000.00
Cap Rate: 10%

Directions: From Walgreens, at the corner of Washington St (Hwy 210) & 4th St NW - West on Washington St 2 blocks - South on 6th St NW 1 block - Property is on the NW corner of 6th St NW and Charles St
Property Features & Assets: Entire Building: 4,000 SF (100' x 40'). North 1,040 SF occupied by North Country Floral. Middle 410 SF is Vacant. South 2,550 SF occupied by Federated Insurance.

Property Features

Water: Ctiy
Sewer: City
Heating: 4 Natural Gas Forced Air Furnaces (2 in South Space, 2 in Central/North Space)
Cooling: 6 Electric Roof Top Central Air Units (3 in South Space, 3 in Central/North Space - 1 used for flower cooler)
Electric : Amps: 200
Electric : Phase: Single
Lighting: Fluorescent
Year Built: 1968
Year Remodeled: 1990 & 2016
Construction: Concrete Block
Foundation: Concrete Slab
Roof: Flat
Exterior: Stucco
Traffic Counts: 28,800 on Hwy 210 / Washington Street
Property Tax Year: 2017
Annual Property Tax: $6,724.00
Ceiling Height: 8'
Floor Drains: 8 (4 in South Space, 4 in Central/North Space)
Bathrooms: 3 (2 in South Space & 1 in Central/North Space)
Utilities Available: Gas: Centerpoint Energy (2 meters for bldg); Electric/Water: Brainerd Public Utilities (1 water & 2 electric meters for bldg)
High-Speed Internet: Yes
Parking Spaces: 30 Shared Paved Parking Stalls
Road Frontage: 125' along 6th Street NW and 115' along Charles Street
Adjacent Tenants: Current Tenants include Federated Insurance & North Country Floral
Neighboring Businesses: Businesses in the area include Neighborhood National Bank, McDonald's, SnoWhite Laundromat, Hamad's Upholstery, Heartland Tire, Tim Horton's, Wendy's, Wells Fargo, Perkins, Close-Converse, Century Link, North Ambulance, Auto Value, Auto Zone, Walgreens, Rafferty's, Subway, Domino's, Burger King, Pizza Hut, Burritos California, Erberts & Gerberts, plus several others.
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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.