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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
MARK ROBINSON, CCIMCONTACT
5353 Wayzata Boulevard, Suite 650Minneapolis, Minnesota 55416
(952)563-6600 FAX: (952)563-6633www.midamericagrp.com
T: 952-563-6664F: [email protected]
MIXED USE PORTFOLIO FOR SALE MINNEAPOLIS - SAINT PAUL, MN
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
MARK ROBINSON, CCIMCONTACT
5353 Wayzata Boulevard, Suite 650Minneapolis, Minnesota 55416
(952)563-6600 FAX: (952)563-6633www.midamericagrp.com
T: 952-563-6664F: [email protected]
PORTFOLIO PROPERTY LOCATIONS
1
PORTFOLIO PROPERTY LOCATIONS
1
1. 4315 Central Ave NE, Columbia Heights, MN 55421
23
45
2. 4101 42nd Ave South, Minneapolis MN 55406
3. 1148 West 7th Street, Saint Paul, MN 55102
4. 608 West 7th Street, Saint Paul, MN 55102
5. 999 Hudson Road, Saint Paul, MN 55106
Square Feet:
Land Size:
# of Units:
4,644 SF
32,670 SF (Commercial), 6,534 SF (Residential)
1 laundromat, 1 residential lot
Square Feet:
Land Size:
# of Units:
2,682 SF
3,920 SF
1 laundromat, 1 retail suite, three bedroom apt,
one bedroom apt
Square Feet:
Land Size:
# of Units:
4,308 SF
1,851 SF
1 laundromat, three bedroom apt, 1 garage
Square Feet:
Land Size:
# of Units:
4,286 SF
4,487 SF
1 laundromat, 1 office suite
Square Feet:
Land Size:
# of Units:
7,200 SF
10,019 SF
1 laundromat, 1 two bedroom apt,
1 three bedroom apt, 2 garages
1. 4315 CENTRAL AVE NE, COLUMBIA HEIGHTS, MN 55421Square Feet: 4,644 SFLand Size: 32,670 SF (Commercial), 6,534 SF (Residential)# of Units: 1 laundromat, 1 residential lot
2. 4101 42ND AVE SOUTH, MINNEAPOLIS MN 55406Square Feet: 2,682 SFLand Size: 3,290 SF# of Units: 1 laundromat, 1 retail suite, three bedroom apt, one bedroom apt
3. 1148 WEST 7TH STREET, SAINT PAUL, MN 55102Square Feet: 4,308 SFLand Size: 1,851 SF# of Units: 1 laundromat, three bedroom apt, 1 two car garage + loft storage
4. 608 WEST 7TH STREET, SAINT PAUL, MN 55102Square Feet: 4,286 SFLand Size: 4,487# of Units: 1 laundromat, 1 commercial suite
5. 999 HUDSON ROAD, SAINT PAUL, MN 55106Square Feet: 7,200 SFLand Size: 10,019 SF# of Units: 1 laundromat, 1 one bedroom apt, 1 three bedroom apt, 2 single car garages
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
MARK ROBINSON, CCIMCONTACT
5353 Wayzata Boulevard, Suite 650Minneapolis, Minnesota 55416
(952)563-6600 FAX: (952)563-6633www.midamericagrp.com
T: 952-563-6664F: [email protected]
INVESTMENT SUMMARY
DENSE URBAN LOCATIONSAll five properties are located in dense trade areas with a strong concentration of multi-family housing. These urban locations provide a strong base for laundromat business given a number of older single and multi-family homes without in-unit laundry. Additionally, the trade areas continue to see population growth from populations seeking hip urban areas with proximity to downtown, transit, and local restaurants and retail. This growth provides an investor with a growing consumer base, helping to increase rents at the properties and cashflow at the businesses.
LOW MAINTENANCE BUSINESS OPPORTUNITYThe five laundromat businesses include all the furniture, fixtures, and equipment to operate the business. The business traditionally operates itself with limited if any need for staffing and a limited time commitment from an owner. This provides a purchaser a generally passive business opportunity and income stream with excellent yields.
VALUE ADD OPPORTUNITIESMultiple opportunities exist in the portfolio to add value and increase cash flow. Rents at the apartments are below market and an investor has an opportunity to lightly remodel and release these units at a significantly increased rent. The included buildable multi-family lot in Columbia Heights provides an opportunity to either sell to a developer or develop multi-fam-ily product in this growing market. The Columbia Heights location is ripe for redevelopment with the pending opening of Hy-Vee across the street, dramatically increasing traffic and the need for ancillary retail, providing an opportunity to partially or completely redevelop this into prime retail space. Lastly, an owner/operator has an opportunity to better market the businesses both on-site and online to drive consumer traffic and revenues to the locations.
MIX OF INCOME STREAMSThis unique opportunity provides an investor with income from the laundromat business, apartment rentals, and commercial rentals. This mix of income streams provides an investor with diversification among the portfolio and hedges risk from any one particular market segment.
LIST PRICE: $2,450,000
PROJECTED NOI: $325,030
CAP RATE: 13.30%
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
5353 Wayzata Boulevard, Suite 650Minneapolis, Minnesota 55416
(952) 563-6600 FAX: (952) 563-6633www.midamericagrp.com
C O N T A C T U S
M A R K R O B I N S O N , C C I MPr i nc ipa l | I n ves tmen t Sa l es952 .563 .6664MRob inson@midamer i cag rp .com
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