For Sale: Red Wing MLS# 6745734
Active
$325,000
Commercial: 1 Story
Built 1986
0.38 acres
Red Wing schools
MLS# 6745734
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Property Description
Prime Commercial Property on Hwy 61-Income-Producing Investment Opportunity
Excellent investment opportunity with strong income potential! This versatile commercial property features two leased units: one currently operating as a tanning salon, and the other occupied by a small church. Both tenants are on month - to - month leases and currently cover all expenses, making this a hassle free income generator.
Located just off Highway 61, the property boasts high visibility and easy access, surrounded by other thriving businesses and commercial activity.
Highlights:
Two-unit commercial building
Current tenants: tanning salon and small church
Tenants pay all expenses
Month to month leases offer flexibility
High-traffic location off Hwy 61
Close to numerous commercial amenities.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$325,000
Property Type:
Commercial
City:
Red Wing
Garage Spaces:
0
County:
Goodhue
Year Built:
1986
State:
MN
Property Style:
1 Story
Zip Code:
55066
Subdivision Name:
Homeland Add
Interior
Ceiling Height:
8-10
Ranges:
None
Refrigerators:
None
Appliances Included:
None
Basement Details:
Block
Exterior
Stories:
One
Garage Spaces:
0
Other Parking Spaces:
10
Air Conditioning:
Central Air
Foundation Size:
3,000 ft2
Handicap Accessible:
No Stairs External, No Stairs Internal
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Parking Lot
Shared Amenities:
None
Unit Amenities:
None
Road Frontage:
City Street
Exterior Material:
Metal Siding
Roof Details:
Age Over 8 Years
Lot & Land
Acres:
0.38
Geolocation:
44.565827, -92.581136
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
125X133X125X133
Zoning:
Business/Commercial
Lot Description:
Irregular Lot
Schools
School District:
256
District Phone:
651-385-4500
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
None
Annual Maintenance Expense:
None
Annual Gross Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$5,824
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$5,824
Income
Annual Gross Income:
$28,000
Rent
Annual Net Income:
$28,000
Units
Total Units:
2
Miscellaneous
Current Use:
- Professional Service
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Exit Realty Rivertown.
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.