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For Sale:  Coon Rapids MLS# 6767111

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Active NEW!
$2,600,000
/mo Edit
Commercial:  Retail/Shopping Center
Built 1978
1.8 acres
Anoka-Hennepin schools
MLS# 6767111
763-576-8286
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    Property Description

    This large multi-tenant commercial building presents a compelling investment opportunity, particularly for buyers seeking value-add potential with built-in stability. The property benefits from zoning that allows for both automotive and o?ice warehouse uses through a Conditional Use Permit (CUP), which greatly expands the scope of allowable tenants and maximizes long-term leasing flexibility. Currently, the building is leased at below-market rental rates, leaving significant room for future income upside as leases turn over or are renegotiated. The tenant base is composed of a solid mix of occupants from various industries, providing diversification and reducing the risk associated with vacancy or market shi?s. In addition to its favorable zoning and tenant structure, the property has recently undergone major renovations totaling approximately $750, 000. These capital improvements were completed by the current ownership and address many of the typical deferred maintenance items, positioning the building for reduced operational costs in the near term and increased attractiveness to new tenants. Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $2,600,000
    Property Type: Commercial
    City: Coon Rapids
    Garage Spaces: 0
    County: Anoka
    Year Built: 1978
    State: MN
    Property Style: Retail/Shopping Center
    Zip Code: 55433
    Subdivision Name: Auditors Sub 74

    Interior

    Ceiling Height: Over 20

    Exterior

    Stories: One
    Garage Spaces: 0
    Garage Door Height: 14
    Garage Door Width: 8
    Other Parking Spaces: 92
    Foundation Size: 31,500 ft2
    Foundation Dimensions: 210 x 150
    Handicap Accessible: Other
    Heating System: Forced Air
    Parking Features: Parking Lot
    Exterior Material: Other
    Roof Details:
    • Age Over 8 Years
    • Metal

    Lot & Land

    Acres: 1.8
    Geolocation: 45.172561, -93.34465
    Inclusions: Building, Land, Leases
    Lot Dimensions: x
    Zoning: Business/Commercial

    Schools

    School District: 11
    District Phone: 763-506-1000

    Expenses

    Annual Caretaker Expense: None

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $24,093
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $24,093

    Units

    Total Units: 10

    Miscellaneous

    Current Use:
    • Automotive
    • Commercial
    • Industrial
    • Professional Service
    • Professional/Office
    • Retail
    • Warehouse
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Separate
    Water System: City Water - In Street

    Mortgage Calculator

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    Payment:  /mo

    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!

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    Listing provided by RMLS, courtesy of Financially Free, LLC.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.