201 Plum ST Active Save Request In-Person Tour Request Virtual Tour
Red Wing,MN 55066
Key Details
Property Type Condo, Commercial
Sub Type Apartment,Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Red Wing
MLS Listing ID 6639217
Year Built 1880
Annual Tax Amount $13,856
Tax Year 2024
Contingent None
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 60 x 80
Property Description
LOCATED IN THE HEART OF DOWNTOWN RED WING’S CENTRAL BUSINESS DISTRICT IS THIS WELL CONSTRUCTED ALL-BRICK MIXED-USE INVESTMENT PROPERTY FEATURING FOUR COMMERCIAL SPACES AND FIVE APARTMENTS!! THE MAIN FLOOR OFFERS 4,800 SQUARE FEET OF RETAIL, OFFICE, OR RESTAURANT SPACE DIVIDED INTO FOUR SEPARATE 1,200 SQFT UNITS. CURRENTLY ALL FOUR COMMERCIAL SPACES ARE LEASED TO SOLID BUSINESS’S. THE MIDDLE TWO UNITS ARE LEASED BY ONE COMPANY. THE SECOND AND THIRD FLOORS ARE APARTMENTS THAT ARE FULLY LEASED AND EASY TO KEEP RENTED. TWO OF THESE UNITS HAVE VERY UNIQUE TWO STORY LAYOUTS AND ONE OF THE OTHER TWO BEDROOM UNITS FEATURE THREE LARGE SKYLIGHTS WHICH MAKES THE APARTMENT FEEL LARGER. THE KITCHENS AND BATHROOMS HAVE BEEN RENOVATED IN THE LAST 20 YEARS. THE BUILDING HAS RECEIVED NEWER WHITE TPO ROOFS, CUSTOM SIZE DOUBLE PANE WOOD WINDOWS, STYLISH BLACK AWNINGS, AND THE EXTERIOR BRICK WAS RECENTLY TUCK-POINTED. THE LOWER LEVEL BASEMENT HAS AN ADDITIONAL 4,800 SQUARE FEET OF STORAGE SPACE THAT DOES STAY DRY. 201 PLUM STREET IS A PROPERTY THAT IS VERY WELL MAINTAINED AND LOW MAINTENANCE. CURRENT ANNUAL GROSS INCOME OF $127,000. PERFECT FOR YOUR 1031 TAX EXCHANGE OR FOR RETIREMENT!!
Location
State MN
County Goodhue
Zoning Business/Commercial
Rooms
Basement Brick/Mortar,Full
Interior
Heating Baseboard,Forced Air
Inclusions Building,Land,Leases,Rental License
Fireplace No
Appliance Range,Refrigerator
Exterior
Parking Features None
Utilities Available Electric Separate,Heating Separate,Hot Water Common
Roof Type Age Over 8 Years,Flat
Present Use Professional/Office,Commercial,Office,Professional Service,Residential,Retail
Building
Lot Description Corner Lot
Story Three Or More
Foundation 4800
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
Structure Type Brick/Stone
Schools
School District Red Wing