Address
216 S Washington Street Redwood Falls, MN
Price
$ 349,900
Property Attributes
  • ID#5706235
  • TypeCommercial
  • CountyREDWOOD
  • CityRedwood Falls
  • Zip56283
  • StyleBusiness
  • Year Built1888
  • Taxes$ 3400
  • Price$ 349,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4640
  • Lot Size5,227 SqFt
Listing Provided Courtesy Of:
Minnesota Lands and Homes Real Estate
Data Source:
Northstar MLS (NSTAR) - 133 - MN
Property Description

Downtown Redwood Falls commercial investment property. Two buildings included with common wall. There are two Leases in effect with long term tenants. Based on the list price the 2019 Cap Rate was 8% and the projected Cap Rate for 2020 is 8.7%. The last 6 years of cash flow is on file for review with a bank pre-approval letter and a signed commercial confidentiality and non-disclosure agreement.

Price History
1/28/2021 Listed $349,900

General Features

Accessibility No Stairs External
Additional Parcels Description 882002500
Additional Parcels Y/N Yes
Basement Stone/Rock, Unfinished
City Redwood Falls
Construction Materials Brick/Stone, Stucco
Contingency None
Cooling Central Air
County Redwood
Current Use Professional/Office, Professional Service, Commercial
Days on Market 5
Directions Downtown Redwood Falls on the corner of Washington and 2nd Street.
Heating Forced Air
High School District Redwood Area Schools
Lender Owned No
Ownerpays Taxes, Insurance, Water, Electricity, Fuel, Repairs, Trash Collection
Property SubType Business
Property Type Commercial Sale
Sewer City Sewer/Connected
Standard Status Active
Street Name Washington
Tax Annual Amount 3400
Tax Year 2020
Total Units 2
Utilities Heating Common, Electric Common, Hot Water Common
Year Built 1888
Zoning Description Business/Commercial

Interior Features

Fuel Natural Gas
Street Suffix Street
Unit Type Efficiencies, 1 Bedroom, 2 Bedroom, 3 Bedroom, 1 Room, 2 Room, 3 Room, 4 Room, 5 Room, 6 Room, 7 Room

Exterior Features

Foundationarea 4640
Inclusions Building, Land, Leases
Lot Dimensions Irregular
Lot Size Area 0.12
Lot Size Units Acres
Parking Features On-Street Parking Only
Road Frontage Type City Street, Sidewalks
Water Source City Water/Connected
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 56283

Price
AVG $270K
$350K
Taxes
AVG $2,452
$3,400
Visits
AVG 48
43
Year Built
AVG 1950
1888
Walkscore
AVG 43
57
Data Provided by Walkscore ® not using MLS data

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