1321 Frost Avenue
Maplewood, MN 55109
Price: $975,000
Prime investment opportunity: fully leased 6-unit strip mall in Maplewood. This thriving community is undergoing significant development, including three new multi-family buildings with over 150 units, promising increased foot traffic and business growth. The strip mall boasts a 7% cap rate offering excellent returns with 100% occupancy and no vacancies. A long-standing laundromat, a local staple since the 1960's, ensures tenant stability and consistent patronage. This property guarantees immediate rental income from its fully leased units. Located in a bustling area with growing infrastructure, the strip mall is set to benefit from the influx of new residents and shoppers. The property includes a rare onsite well, eliminating city water bills and reducing costs to just outgoing sewer expenses. This investment promises long-term growth and solid return, making it a perfect addition to your portfolio. Don't miss out on this fantastic opportunity in Maplewood.
Basic Features:
| Style |
Retail |
| Type |
Commercial Sale |
| Zoning |
Business/Commercial |
| Year Built |
1960 |
| School District |
North St Paul-Maplewood |
| County |
Ramsey |
| Lot Size |
1 |
| Acreage |
0.62 acres |
| Lot Description |
Public Transit (w/in 6 blks),Corner Lot,Tree Coverage - Light |
| Number of Units |
9 |
| Tax $ / Year |
$17,584 / 2024 |
| Tax ID |
|
| Legal Description |
|
Additional Features
| Government Programs |
|
| Section |
15 |
| Terrain Type |
|
| Basement |
Full |
| Cooling |
Central Air |
| Driveway |
|
| Exterior Features |
Brick/Stone |
| Foundation |
4956.00 |
| Fuel Source |
Natural Gas |
| Handicap Access |
None |
| Heating |
Forced Air |
| Roof |
Age 8 Years or Less,Rolled/Hot Mop,Flat,Rubber |
| Sewer Service |
City Sewer/Connected |
| Water Service |
City Water - In Street,Well |
| Water Heater |
|
| Parking Lot |
Paved |
| Exterior Construction |
|
| Utilities |
Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Sepa... |
| Laundry |
N |
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