For Sale: Richfield MLS# 7041182
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Property Description
NNN. Richfield strip center. 4 units completely remodeled 2025. New roof 2024. 500K put into this property. Tattoo, Shoe repair, Cannabis dispensary, Vietnamese Coffee shop, Hair salon, Ice Cream parlor, Vietnamese restaurant. 100% occupied. 7 tenants over 9 bays. 8 bathrooms. 2 in common area behind south half of bldg.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,995,000
Property Type:
Commercial
City:
Richfield
Garage Spaces:
0
County:
Hennepin
Year Built:
1952
State:
MN
Property Style:
1 Story
Zip Code:
55423
Subdivision Name:
Fairwood Park
Interior
Bedrooms:
0
Bathrooms:
5
Ceiling Height:
11-15
Flooring:
Concrete Slab
Basement Details:
None
Exterior
Stories:
One
Garage Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
7,000 ft2
Foundation Dimensions:
140x50
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
Paved Lot
Road Frontage:
County Road
Exterior Material:
- Block
- Brick
- Frame
Roof Details:
- Age 8 Years or Less
- Flat
- Other
Lot & Land
Acres:
0.528
Geolocation:
44.882303, -93.308231
Inclusions:
Building, Land
Lot Dimensions:
200 x 115
Zoning:
Business/Commercial
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
1261
District Phone:
6127986010
Expenses
Tenant Expenses:
All Utilities, Common Area Maintenance, Escalation, Gas, Heat, Hot Water, Percent Rent
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$36,000
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$34,735
Income
Annual Gross Income:
$185,808
Rent
Annual Net Income:
$123,308
Units
Total Units:
9
Miscellaneous
Current Use:
- Commercial
- Food Service
- Professional/Office
- Restaurant
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
- Hot Water Separate
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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!
Listing provided by RMLS,
courtesy of Real Estate Masters, Ltd..
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.