317 Lake Street NE, Warroad, MN 56763
$310,000
Property Type:
Commercial
Lot Size (sq. ft.):
3,000
Status:
Active
Current Price:
$310,000
List Date:
12/01/2022
Last Modified:
3/24/2023
Description
PRIME COMMERCIAL INVESTMENT OPPORTUNITY! This historic downtown Warroad, MN building features 2,225 square feet of finished floor space on each level plus a 24x30 attached garage space for your storage needs. The main level is currently occupied by Annie's Trading Post Outlet (retail space) complete with handicap accessibility, dual 1/2 bath customer bathrooms, brick features, industrial feeling exposed ductwork and bonus storage room. Upstairs the 3 bedroom, 2 bathroom residential rental unit is spacious with unique character abounding - stunning kitchen, impressive faux fireplace, wet bar, tiled bathroom, walk-in closets, crown moulding, laundry and a rooftop sitting area. Both units have central air, separate natural gas forced air furnaces and many recent renovations have been completed. Proven rental history with impressive income generation and no recent vacancies. Excellent location along heavily traveled Lake Street. Reach out for financial details and more information!
More Information MLS# 6313423
None
Allow Auto Valuation: Yes
Allow Consumer Comment: Yes
MLSID: RMLS
Contract Information
Status: Active
Current Price: $310,000
Original List Price: 310000
Contingency: None
ListPrice: 310000
List Date: 2022-12-01
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: NWMAR
General Property Information
Lot Measurement: Square Feet
Multiple PIDs?: No
Owner Occupied: No
Year Built: 1912
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 2225
Garage Stalls: 2
For Sale or Lease: For Sale
Acres: 0.07
Lot Dimensions: 25x120
Assessment Pending: No
Location, Tax and Other Information
Legal Description: Lot 9, Block 4 of Moodys Addition to the City of Warroad
Map Page: 999
Municipality: Warroad
Rental License?: Yes
School District Phone: 218-386-1472
Map Coordinate Source: King's Street Atlas
House Number: 317
Street Name: Lake
Street Suffix: Street
Street Direction Suffix: NE
Postal City: Warroad
County: Roseau
State: MN
Zip Code: 56763
MLS Area: Warroad
Property ID Number: 5600229
Complex/Dev/Subdivision: Moodys Addition
Tax Year: 2023
Tax Amount: 2368
In Foreclosure?: No
Potential Short Sale?: No
Assessment Balance: 90
Lender Owned?: No
Tax With Assessments: 2458
Directions & Remarks
Public Remarks: PRIME COMMERCIAL INVESTMENT OPPORTUNITY! This historic downtown Warroad, MN building features 2,225 square feet of finished floor space on each level plus a 24x30 attached garage space for your storage needs. The main level is currently occupied by Annie's Trading Post Outlet (retail space) complete with handicap accessibility, dual 1/2 bath customer bathrooms, brick features, industrial feeling exposed ductwork and bonus storage room. Upstairs the 3 bedroom, 2 bathroom residential rental unit is spacious with unique character abounding - stunning kitchen, impressive faux fireplace, wet bar, tiled bathroom, walk-in closets, crown moulding, laundry and a rooftop sitting area. Both units have central air, separate natural gas forced air furnaces and many recent renovations have been completed. Proven rental history with impressive income generation and no recent vacancies. Excellent location along heavily traveled Lake Street. Reach out for financial details and more information!
Directions: In Warroad from the junction of State Hwy 11 and Lake Street NE stoplights: head Northeast on Lake Street for 0.2 miles, property located on the left.
Basement
Foundation Dimensions: 25x89
Building Information
Building Finished SqFt: 4450
Building SqFt: 4450
Ceiling Height: Varied Heights
Fractional Ownership: No
Income and Expenses
Annual Electric Expense: 3000
Annual Gross Income: 27600
Annual Insurance Expense: 1100
Annual Net Income: 20817
Total Annual Expenses: 6783
Lease Details
Land Leased: No
Miscellaneous Information
FIPS Code: 27135
Homestead Desc: Other
Parking Characteristics
Garage Dimensions: 24x30
Garage Door Height: 8
Garage Door Width: 14
Garage Square Feet: 720
Structure Information
Sale Includes: Building,Land,Leases
Unit 3
No. of 3 Bedroom Units: 1
Unit Details
Total Units: 2
Property Features
Accessible: Doors 36in+; Partially Wheelchair; Wheelchair Ramp
Air Conditioning: Central
Amenities Shared: None
Amenities Unit: Ceiling Fan(s); City View; Hardwood Floors; Kitchen Center Island; Kitchen Window; Paneled Doors; Walk-In Closet; Washer/Dryer Hookup; Wet Bar
Appliances: Dishwasher; Dryer; Electric Water Heater; Microwave; Range; Refrigerator; Washer
Assumable Loan: Not Assumable
Basement: Crawl Space; Posts; Stone; Unfinished
CMU Style: Mixed Use
Construction Status: Previously Owned
Current Use: Commercial; Residential; Retail
Exterior: Block; Brick/Stone
Fencing: None
Floor Description: Carpet; Tile; Wood
Fuel: Electric; Natural Gas
Heating: Forced Air; Radiant
Internet Options: Cable
Loan Terms: Cash; Conventional
Location Description: Downtown
Lock Box Type: None
Lot Description: Zero Lot Line
Miscellaneous Information: Overhead Doors
No. of Ranges: One
No. of Refrigerators: One
On Site Utilities: Electric Common; Electric Separate; Heating Separate; Hot Water Separate
Overhead Door Clearance: 0-9 Feet
Owners Expense: Electricity; Fuel; Insurance; Maintenance/Repair; Taxes; Trash Collection
Parking Characteristics: Attached Garage
Pool Description: None
Rent Rate per Foot: Per Month
Rental License Type: Standard
Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer; Street Lights
Road Responsibility: Public Maintained Road
Roof: Age 8 Years or Less; Age Over 8 Years; Flat; Rubber
Sewer: City Sewer/Connected
Stories: Two
Tenant Expenses: Cable T.V.; Snow Removal
Wall Description: Drywall; Finished; Insulated
Water: City Water/Connected
Window Features: Double Pane Windows; Insulated Windows
Listing Office: Pahlen Realty, Inc.
Last Updated: March - 24 - 2023
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