For Sale: Red Wing MLS# 6639217
Active
NEW!
$1,349,900
Commercial: Apartment,Mixed Use
Built 1880
0.11 acres
Red Wing schools
MLS# 6639217
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
LOCATED IN THE HEART OF DOWNTOWN RED WINGâ??S CENTRAL BUSINESS DISTRICT IS THIS WELL CONSTRUCTED ALL-BRICK MIXED-USE INVESTMENT PROPERTY FEATURING FOUR COMMERCIAL SPACES AND FIVE APARTMENTS!! THE MAIN FLOOR OFFERS 4, 800 SQUARE FEET OF RETAIL, OFFICE, OR RESTAURANT SPACE DIVIDED INTO FOUR SEPARATE 1, 200 SQFT UNITS. CURRENTLY ALL FOUR COMMERCIAL SPACES ARE LEASED TO SOLID BUSINESSâ??S. THE MIDDLE TWO UNITS ARE LEASED BY ONE COMPANY. THE SECOND AND THIRD FLOORS ARE APARTMENTS THAT ARE FULLY LEASED AND EASY TO KEEP RENTED. TWO OF THESE UNITS HAVE VERY UNIQUE TWO STORY LAYOUTS AND ONE OF THE OTHER TWO BEDROOM UNITS FEATURE THREE LARGE SKYLIGHTS WHICH MAKES THE APARTMENT FEEL LARGER. THE KITCHENS AND BATHROOMS HAVE BEEN RENOVATED IN THE LAST 20 YEARS. THE BUILDING HAS RECEIVED NEWER WHITE TPO ROOFS, CUSTOM SIZE DOUBLE PANE WOOD WINDOWS, STYLISH BLACK AWNINGS, AND THE EXTERIOR BRICK WAS RECENTLY TUCK-POINTED. THE LOWER LEVEL BASEMENT HAS AN ADDITIONAL 4, 800 SQUARE FEET OF STORAGE SPACE THAT DOES STAY DRY. 201 PLUM STREET IS A PROPERTY THAT IS VERY WELL MAINTAINED AND LOW MAINTENANCE. CURRENT ANNUAL GROSS INCOME OF $127, 000. PERFECT FOR YOUR 1031 TAX EXCHANGE OR FOR RETIREMENT!!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,349,900
Property Type:
Commercial
City:
Red Wing
Garage Spaces:
0
County:
Goodhue
Year Built:
1880
State:
MN
Property Style:
Apartment, Mixed Use
Zip Code:
55066
Subdivision Name:
Red Wing
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Brick/Mortar
- Full
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
0
Foundation Size:
4,800 ft2
Foundation Dimensions:
60 x 80
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
None
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.11
Geolocation:
44.56667, -92.533784
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
60 x 80
Zoning:
Business/Commercial
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
256
District Phone:
651-385-4500
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,269
Annual Fuel Expense:
$6,556
Annual Insurance Expense:
$6,603
Annual Maintenance Expense:
$856
Annual Gross Expense:
$36,281
Annual Trash Expense:
$1,000
Annual Water/Sewer Expense:
$3,740
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$13,856
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$13,856
Income
Annual Gross Income:
$128,400
Rent
Annual Net Income:
$92,118
Units
Total Units:
9
Miscellaneous
Current Use:
- Commercial
- Office
- Professional Service
- Professional/Office
- Residential
- Retail
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.