Homes for sale - 201 Plum ST, Red Wing, MN 55066

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$1,349,900

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4,791 Sqft Lot

Active

201 Plum ST Red Wing, MN 55066

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J B

info@t-bees-k.com +1(612) 607-3999

UPDATED:

12/11/2024 05:16 PM

Key Details

Property Type Condo, Commercial

Sub Type Apartment,Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Red Wing

MLS Listing ID 6639217

Year Built 1880

Annual Tax Amount $13,856

Tax Year 2024

Contingent None

Lot Size 4,791 Sqft

Acres 0.11

Lot Dimensions 60 x 80

Property Description

LOCATED IN THE HEART OF DOWNTOWN RED WING’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 BUSINESS’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!!

Location

State MN

County Goodhue

Zoning Business/Commercial

Rooms

Basement Brick/Mortar, Full

Interior

Heating Baseboard, Forced Air

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features None

Utilities Available Electric Separate, Heating Separate, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Professional/Office,Commercial,Office,Professional Service,Residential,Retail

Building

Lot Description Corner Lot

Story Three Or More

Foundation 4800

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick/Stone

Schools

School District Red Wing

Listed by Nathan Opatz • Apartment Cash Flow, Inc.

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J B

Real Estate Adviser | License ID: 40713539

+1(612) 607-3999