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  • 554 3rd Street Nw

  • Elk River, MN 55330
  • Neighborhood: Village Elk River
  • $795,000
  • MLS® #: 5487284
  • Year Built: 1961
  • Days Listed: 215
Commercial Sale property for sale in Elk River, MN at 554 3rd Street Nw. This property is priced at $2,409,091/acre.
REDUCED

Description of 554 3rd Street Nw, Elk River, MN 55330 - $795,000

6,528 SF above ground, 9,792 SF including lower level. Approximately $68,000 in place NOI/8.6% Cap Rate. (3) lower level suites available at $300 each creating potential fully occupied Cap Rate of 9.9%. C-1 Central Commercial District zoning. Great multi-tenant office building investment opportunity. Excellent downtown Elk River location. Seller is replacing the main roof, and all the asphalt shingled mansard roof spring 2020. Two above ground levels, and one lower level. Common areas include 2 stairwells, elevator, and 6 restrooms. Well maintained building with brick front, architectural mansard roof, and arched window openings. Well maintained HVAC. The parking lot is in good shape, and has ample parking with approximately 32 spots. On street parking available as well. Building signage included for tenants.

Essential Information

  • MLS® #5487284
  • Price$795,000
  • Acres0.33
  • Year Built1961
  • TypeCommercial Sale
  • Sub-TypeOffice
  • StyleOffice
  • StatusActive

Interior

  • HeatingForced Air

Community Information

  • Address554 3rd Street Nw
  • SubdivisionVillage Elk River
  • CityElk River
  • CountySherburne
  • StateMN
  • Zip Code55330

Exterior

  • ConstructionBrick/Stone,Block

Amenities

  • GaragesOpen

Additional Information

  • Listing OfficeSummerhill Commercial Real
  • Days on Market215
  • ZoningBusiness/Commercial

Kris LindahlREALTOR®

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Price Change History for 554 3rd Street Nw, Elk River, MN (MLS® #5487284)

Date Details Price Change
Price Reduced (from $895,000) $795,000 $100,000 (11.17%)
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Listing information last updated on September 19th, 2020 at 6:20pm CDT.