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Neal Anderson, Managing Broker
(612) 865-5955
Counselor Realty, Inc |
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224 Main Street E, Young America, MN 55397
STATUS: Active
PROPERTY TYPE: Commercial - Business
SUBDIVISION: City Lts Of Young America
SCHOOL: Central
Property Description
This property was built in 1911 with many recent improvements including a new roof in 2019 & all 6 units renovated in the last 3 years. One building features 6 two-bedroom apartments with the other building featuring one retail property, currently the laundromat is owned by the Landlord. The two-parcel offering includes ample Class IV gravel off-street parking in the rear of each respective building. Each unit is separately metered for gas and electric, making expenses relatively low for this investment. The residential building has new boilers (2025). The property has a strong rental history and is 100% occupied.The landlord has successfully renovated all units along with rent increases per year of 7%-10% since purchasing the building in 2020, making this acquisition a solid-performing asset in a growing community with little to no competition.
Property Features
Property Type: Commercial - Business Cooling: Window Unit(s) Fuel Type: Electric, Natural Gas Heating: Baseboard, Radiator Lot Size: 0.14 Acres Roof Type: Age 8 Years or Less Stories: 2.0 Taxes: $8,768 Year Built: 1911
Feature Descriptions
Appliances: Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances
Current Use: Laundromat, Residential
Days on Site: 374
Exterior: Block
Foundation Size: 6800
Handicap Accessible: No Stairs Internal
Lot: Corner Lot, Tree Coverage - Light, Underground Utilities, Zero Lot Line
Owners Expense: Exterior Maintenance, Grounds Care, HVAC Maintenance, Insurance, Janitorial Service, Repairs, Management, Pest Control, Roof Maintenance, Security, See Remarks, Taxes, Trash Collection
Parcel#: 580510470
Parking: Gravel, Guest Parking, Paved Lot
Road Frontage: City Street
Sale Includes: Building, Business Assets, Business, Fixture/Equipment, Inventory, Land, Leases
Sewer: City Sewer/Connected
Tenant Expenses: All Utilities, Cable TV, Electricity, Gas, Heat, Hot Water, Sewer, Water
Units: 7
Utilities: Electric Separate, Heating Separate
Water: City Water/Connected
Listed By / Shown By
Agency Name: Bridge Realty, LLC
Agency Phone: 952-368-0021
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224 Main Street E | MLS# 6699747
This commercial property located at 224 Main Street E, Young America, MN 55397 is currently listed for sale with an asking price of $875,000. Main Street E is located within the Central school district. Search Young America real estate on nanderson.counselorrealty.com today.