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42 Downtown Plz 10 Unit Apartment Building For Sale Fairmont, MN 56031
Executive Summary
Commercial mixed-use investment opportunity in the heart of Downtown Fairmont, MN. This two-story concrete and brick building is approximately 7,200 sq. ft. per level. It offers a strong value-add potential with existing income and leasing upside. The main level includes a new nail salon. It features high-end TI and equipment. The is also a 5677 sq. ft. warehouse/flex space on the main level with one drive-in overhead door. The second floor consists of ten apartments plus a common laundry area. This creates an attractive mix of residential and commercial income streams. Positioned in a prime downtown location, this property offers investors the opportunity to increase occupancy and maximize returns. Call Kev today for a private tour!
Property Facts
| Sale Type | Investment | Lot Size | 0.16 AC |
| No. Units | 10 | Building Size | 14,200 SF |
| Property Type | Multifamily | Average Occupancy | 60% |
| Property Subtype | Apartment | No. Stories | 2 |
| Building Class | B | Year Built | 1946 |
| Zoning | mixed - Commercial/Retail/Apartments | ||
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 14,200 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built | 1946 |
| Zoning | mixed - Commercial/Retail/Apartments |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 600 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 232690200 | Improvements Assessment | $97,987 CAD |
| Land Assessment | $30,171 CAD | Total Assessment | $128,158 CAD |
Property Taxes
Parcel Number
232690200
Land Assessment
$30,171 CAD
Improvements Assessment
$97,987 CAD
Total Assessment
$128,158 CAD
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42 Downtown Plz
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