525 N Central Ave - Freestanding FOR SALE


Milaca, MN 56353
$1,795,000 USD
763-296-2925
525 N Central Ave, Milaca, MN for Sale
$1,795,000 USD
Freestanding - FOR SALE
1/3
null | 7.3% Cap Rate

525 N Central Ave
Milaca, MN 56353


OVERVIEW

Prime commercial opportunity in the heart of Milaca! This expansive 12,000 sq ft building offers exceptional visibility and versatility along Central Ave. Currently operating as a fully equipped laundromat and car wash, the property includes ample off-street parking and strong daily traffic. Solid structure, great signage potential, and excellent access just off Hwy 169. Ideal for owner-operators or investors looking for steady cash flow in a growing community. Car wash are 2 bays. Laundromat consists of 31 washers, 21 dryers. See supplements for additional recent improvements. Other recent updates: Repaved front parking lot, Replaced concrete slab in front of laundromat, Replaced windows, Added 3 ground level apartments (it was an unoccupied...), Redid the bathrooms in 3 apartments, Redid the kitchen in 1 apartment, Poured cement slab for dumpster behind the building, Re-plumbed behind the washers, Replaced electrical panel, wire/installed new conduit, Replaced Garage Doors, All new washers and dryers, New large coin changer, New vending machine, Replaced metal railing on upper walkway, Replaced block wall at stairway to upper walkway, Replaced outdoor lights with LED and canopies above, Replaced automatic car wash with 2 storage units, Replaced appliances in apartments as needed, Replaced AC units in apartments as needed, Replaced carpet as needed, Replaced mag locks in laundromat. New boiler will be installed at sellers expense.

FOR SALE DETAILS

PRICE

$1,795,000 USD

PRICE/SF

$172 USD /SF

CAP RATE

7.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10 UNIT APARTMENT • LAUNDROMAT • CAR WASH

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Service Station, Storefront Retail/Residential, Service

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

22,956 SF

ZONING

Commercial/Residential

APN/PARCEL ID

21-045-0030

ASK ABOUT THIS PROPERTY

Kurt SutherlandeXp RealtyMore Info
763-296-2925

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Kurt SutherlandeXp RealtyMore Info
763-296-2925

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.