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531 Railroad Ave 2,975 SF 100% Leased Retail Building Albany, MN 56307 $277,160 CAD ($93.16 CAD/SF)
INVESTMENT HIGHLIGHTS
- CURRENT SPACE INCLUDES: Retail area, kitchen, storage, office, restroom, furniture, equip., & back driveway w/ 2 parking spots & drive-in door access
- KITCHEN EQUIPMENT INCLUDES: Double oven, wall oven, two refrigerators, range, exhaust fan and hood, dishwasher, carts, & tables
EXECUTIVE SUMMARY
Sale includes business and equipment. Current owner is willing to stay on for up to five years. Current business is the only bakery in the area and has strong Google reviews, making it a well-known location and community hub.
The property sits in an ideal downtown location and is one block from the Lake Wobegon Trail. Businesses that cater to trail users (food and beverage) typically see the largest economic gains.
Downtown location neighbors Kerry Inc., the historical boutique Albany Merchants Hotel, Lake Wobegon Trail Gallery, Rookie’s Sports Bar, Great River Regional Library, Albany Golf Club, Albany Flower Shop & Gifts, and more.
The property sits in an ideal downtown location and is one block from the Lake Wobegon Trail. Businesses that cater to trail users (food and beverage) typically see the largest economic gains.
Downtown location neighbors Kerry Inc., the historical boutique Albany Merchants Hotel, Lake Wobegon Trail Gallery, Rookie’s Sports Bar, Great River Regional Library, Albany Golf Club, Albany Flower Shop & Gifts, and more.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
2,975 SF
Building Class
C
Year Built
1972
Price
$277,160 CAD
Price Per SF
$93.16 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.87
Lot Size
0.08 AC
Zoning
C - Commercial
PROPERTY TAXES
| Parcel Number | 40.25580.0000 | Improvements Assessment | $130,041 CAD |
| Land Assessment | $30,105 CAD | Total Assessment | $160,146 CAD |
PROPERTY TAXES
Parcel Number
40.25580.0000
Land Assessment
$30,105 CAD
Improvements Assessment
$130,041 CAD
Total Assessment
$160,146 CAD
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531 Railroad Ave
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