Show the Map

Search


421 1st Avenue E, Shakopee, MN 55379
MLS# 5563315

$900,000



  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge
  • Click on image to enlarge

Property Description
Rare opportunity for owner occupant or investor. Well maintained building in the heart of downtown Shakopee. Tons of traffic, and great street frontage/ signage. Recent capital improvements include new roof (2020), updated plumbing (2020), updated electrical (2020). High demand 1 BR apartments with many big employers near by including Amazon, My Pillow, and many more. Opportunity to increase rent on some units to increase investment value.

Summary
Directions:  On the north side of 1st Ave E in downtown Shakopee. Straight across the street from Holiday Gas Station. Tax Amount:  14674
Property ID Number:  270010250 Acres:  0.2
Lot Size SqFt:  8842.68 Zip Plus 4:  1462
Contingent Timestamp:  2020-07-21T21:25:04Z Closed Timestamp:  2020-09-09T15:42:03Z
Original On Market Timestamp:  2020-05-08T15:54:36Z Total Bathrooms Source:  MLS
Status:  Closed Contingency:  None
Contingency:  None Property Type:  Commercial
County:  Scott ListPrice:  900000
Complex/Dev/Subdivision:  City Of Shakopee Sales Close Date:  2020-09-09
Off Market Date:  2020-08-06 Off Market Date:  2020-08-06
List Date:  2020-05-08 Sales Close Price:  850000
On-Market Date:  2020-05-08T15:54:36Z Original List Price:  980000
Off Market Date:  2020-08-06 On-Market Contract Date:  2020-05-08
Current Price:  850000 List Agent Full Name:  Kevin Komorouski
List Office Mls Id:  12127 Buyer Office MlsId:  8237
List Agent Mls Id:  506007445 Buyer Agent MlsId:  506008863
List Agent Association:  SPAAR Buyer Agent Association:  SPAAR
IDX Participant:  Yes Photos Count:  16
Documents Count:  1 Lot Size Area:  0.2
Lot Size Units:  Acres Current Price:  850000
Unparsed First Line Address:  421 1st Avenue E Property Type:  Commercial
Originating System Listing ID:  5563315 Last Modified:  2020-09-09T15:59:28Z


None
Allow Auto Valuation: Yes Allow Consumer Comment: Yes
MLSID: RMLS  


Contract Information
Availability: Unavailable Owner is an Agent?: Yes
Auction?: No  


Office/Member Info
Association: SPAAR  


General Property Information
Lot Measurement: Acres Multiple PIDs?: No
Other Parking Spaces: 26 Owner Occupied: No
Waterfront Present: No Year Built: 1967
Yearly/Seasonal: Yearly Zoning: Business/Commercial
Acres: 0.2 Foundation Size: 2608
Power Company: Other Lot Dimensions: 142x60
Assessment Pending: No  


Location, Tax and Other Information
Legal Description: SUBDIVISIONNAME CITY OF SHAKOPEE LOT 003 BLOCK 001 SUBDIVISIONCD 27001 Map Page: 146
Rental License?: No School District Phone: 952-496-5006
Map Coordinate Source: King's Street Atlas Zip Plus 4: 1462
Property ID Number: 270010250 Tax Year: 2019
Tax Amount: 14674 In Foreclosure?: No
Potential Short Sale?: No Lender Owned?: No
Tax With Assessments: 14674  


Directions & Remarks
Copyright Remarks: Yes Public Remarks: Rare opportunity for owner occupant or investor. Well maintained building in the heart of downtown Shakopee. Tons of traffic, and great street frontage/ signage. Recent capital improvements include new roof (2020), updated plumbing (2020), updated electrical (2020). High demand 1 BR apartments with many big employers near by including Amazon, My Pillow, and many more. Opportunity to increase rent on some units to increase investment value.
Directions: On the north side of 1st Ave E in downtown Shakopee. Straight across the street from Holiday Gas Station.  


Basement
Foundation Dimensions: 51x51  


Building Information
Building Finished SqFt: 7824 Building SqFt: 7824
Ceiling Height: 8-10  


Green Verification
Green Certification: No  


Miscellaneous Information
FIPS Code: 27139 Homestead Desc: Other


Structure Information
Sale Includes: Land,Leases,Fixture/Equipment,Building  


Unit 1
No. of 1 Bedroom Units: 7  


Unit Details
Total Units: 13  


Income and Expenses
Annual Electric Expense: 9600 Annual Fuel Expense: 2160
Annual Gross Expenses: 41802 Annual Gross Income: 122160
Annual Insurance Expense: 2988 Annual Maintenance Expense: 6120
Annual Net Income: 80358 Annual Trash Expense: 1560
Annual Water/Sewer Expense: 2400 Total Annual Expenses: 41802


Unit Information
Unit Num Effic: 1  


Property Features
Accessible: None
Air Conditioning: Central; Window
Amenities Shared: Coin-op Laundry Owned
Assumable Loan: Not Assumable
Basement: Egress Windows; Walkout
Construction Status: Previously Owned
Exterior: Brick/Stone
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Baseboard; Forced Air
Lock Box Type: None
Parking Characteristics: Paved Lot
Road Frontage: City Street; Paved Streets; Sidewalks
Road Responsibility: Public Maintained Road
Roof: Age 8 Years or Less; Flat
Sewer: City Sewer/Connected
Stories: Three Or More
Water: City Water/Connected
Owners Expense: Electricity; Fuel; Insurance; Janitorial Service; Maintenance/Repair; Snow Removal; Taxes
Tenant Expenses: Cable T.V.; Electricity
Available Utilities: Heating Common
On Site Utilities: Heating Common
CMU Style: Mixed Use
Current Use: Professional Service; Residential
Floor Description: Carpet; Concrete Slab; Tile; Vinyl/Linoleum
Loan Terms: Cash; Conventional
Rent Rate per Foot: Per Month
Wall Description: Drywall



Listing Office: RES Realty

Listing Was Last Updated: September - 09 - 2020

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2020 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.