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324 Lowell Avenue NW Elk River, MN $ 1,450,000
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$ 1,450,000 Get more info
324 Lowell Avenue NW
$ 1,450,000
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Share Save

324 Lowell Avenue NW

Elk River, MN, 55330
$ 1,450,000
Baths0.0 Sq 605

Monthly Estimate*

$ 10,129

324 Lowell Avenue NW, Elk River, MN 55330 - Image 1
324 Lowell Avenue NW, Elk River, MN 55330 - Image 2
324 Lowell Avenue NW, Elk River, MN 55330 - Image 3
324 Lowell Avenue NW, Elk River, MN 55330 - Image 4
Studio

Commercial Property for sale in Elk River, MN

for $1,450,000. This 605 square foot building was built in 2022.

6.55% Cap Rate. 2022 built Caribou Cabin with prime Hwy 10 frontage. Triple net lease with 9 years remaining of the initial 10-year term. 10% rent increase after year 5. Three additional 5-year options with 10% rent increases after the initial 10-year term.

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Commercial Active

Price

$ 1,450,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 4,444

Style

Year Built

2022

Town/City

Elk River

County/Region

Sherburne

MLS | Web ID

6431730
Features
General
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air
Utilities Electric Separate Heating Separate Hot Water Separate
Roof Metal
Garage Spaces 0
Construction Materials Brick/Stone Fiber Cement Metal Siding Wood Siding
Year Built 2022
Tenant Pays All Utilities Insurance Grounds Care Repairs Other Snow Removal Taxes Water
Tax Year 2023
Current Use Food Service
Gross Income 95000
Accessibility No Stairs Internal
County Sherburne
Net Operating Income 95000
Operating Expense 0
Property Type Commercial Sale
Contingency None
Subdivision Name Village Elk River
Directions Hwy 10 west to left on Lowell Ave.
City Elk River
Buyer Agent Compensation 3.00
High School District Elk River
Zoning Description Business/Commercial
Total Units 1
Street Name Lowell
Land Lease Y/N N
Tax Annual Amount 4444
Additional Parcels Y/N N
Days on Market 210
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Exterior
Parking Features Parking Lot
Lot Features Corner Lot
Water Source City Water/Connected
Inclusions Building Land Leases
Lot Size Area 0
Building Area Total 605
Lot Dimensions 179x150x141x155
Foundation Area 605
Road Frontage Type City Street Paved Streets
Road Responsibility Public Maintained Road
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Interior
Basement (Y/N) N
Street Suffix Avenue
Fuel Natural Gas
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Internal Only
Street Number 1 324
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* Excluded Features
List By
Acuity Group

Broker

dustin@acgproperty.com

Email

Affordability Calculator

$10,499
Per Month
96%
4%
0%
Monthly Principal & Interest
$10,129
Monthly Property Taxes
$370
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW!
Nearby
708280 Elementary School
708820 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/9/2024$1,450,000 -4.92% Price Down
1/26/2024$1,525,000 -4.69% Price Down
11/29/2023$1,600,000 -3.03% Price Down
10/25/2023$1,650,000 -5.71% Price Down
9/13/2023$1,750,000 Listed Price

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324 Lowell Avenue NW, Elk River, MN, 55330 is a Commercial Property for sale at $1,450,000 with 605 sqft. 324 Lowell Avenue NW is a studio with 0.0 baths and was built in 2022. The property's zip code is 55330 which is in Elk River, MN

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