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For Sale:  Albert Lea MLS# 6798107

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Active NEW!
$275,000
/mo Edit
Commercial:  2 Stories
Built 1917
0.06 acres
Albert Lea schools
MLS# 6798107
763-576-8286
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    Property Description

    An investors dream! The work is done, just turn the keys and manage this fully occupied building in historic downtown Albert Lea. A very popular long time local radio station has occupied this property on the main floor for years. Upstairs are two of the nicest, fully renovated, downtown apartments the town has to offer. Each of the absolutely amazing apartments include gorgeous woodwork through out, skylights and in-unit washers and dryers. The basement (a former local real estate brokerage) is currently used for storage for a near by business. The building has been gone over from top to bottom and is in excellent shape! You do not have to lose time renovating, this property in finished, leased out and all ready to start working for you on day one.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $275,000
    Property Type: Commercial
    City: Albert Lea
    Garage Spaces: 0
    County: Freeborn
    Year Built: 1917
    State: MN
    Property Style: 2 Stories
    Zip Code: 56007

    Interior

    Ceiling Height: 8-10
    Ranges: Two
    Refrigerators: Two
    Appliances Included:
    • Dryer
    • Gas Water Heater
    • Range
    • Refrigerator
    • Washer
    Basement Details:
    • Owner Access
    • Partially Finished
    • Single Tenant Access
    • Storage Space

    Exterior

    Stories: Two
    Garage Spaces: 0
    Garage Dimensions: 0
    Garage Door Height: 0
    Garage Door Width: 0
    Other Parking Spaces: 2
    Air Conditioning: Central Air, Window Unit(s)
    Foundation Size: 2,178 ft2
    Foundation Dimensions: 22x89
    Handicap Accessible: Other
    Road Responsibility: Public Maintained Road
    Heating System: Steam
    Parking Features:
    • Gravel
    • Parking Lot
    Unit Amenities:
    • Ceiling Fan(s)
    • City View
    • Skylight
    • Washer/Dryer Hookup
    Road Frontage: City Street
    Exterior Material: Brick/Stone
    Roof Details:
    • Flat
    • Rubber

    Lake & Waterfront

    Waterfront View: North

    Lot & Land

    Acres: 0.06
    Geolocation: 43.650029, -93.368321
    Inclusions: Building, Leases
    Lot Dimensions: 22 x 122
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family

    Schools

    School District: 241
    District Phone: 507-379-4800

    Expenses

    Tenant Expenses: Electricity, Gas

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $3,128
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $3,264

    Income

    Annual Gross Income: $47,100

    Units

    Total Units: 4

    Miscellaneous

    Current Use:
    • Office
    • Other
    • Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Common
    • Hot Water Separate
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Robert Hoffman Realty Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.