Building Details

Year Renovated 2021

Stories 2

Tenancy Multi

Listing Agency: Results Commercial m***@resultscommercial.com Show Phone

Listed By: Mark Hulsey · License #MN 40169559

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Aug 22 at 1:45PM

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Investment Insights

Based on property information with market context.

This is a fully leased, 4-unit mixed-use investment property featuring three apartments above one commercial space. The building includes onsite parking, in-building laundry, and additional basement storage for apartment tenants. A detached 3-stall garage is located on the property and is included in the sale; the garage stalls are currently rented to apartment tenants for an additional fee. Several apartments are described as recently updated, including two apartments remodeled in 2021.

The property is located near Elko New Market, Minnesota, and is described as within 30 minutes of the Twin Cities. The first-floor commercial space is occupied by the United States Postal Service, which is noted as a longtime anchor tenant with a lease in place through 2028.

The second floor consists of three apartments, including one 1-bedroom unit and two 2-bedroom units. All units are described as having long-term tenants in place, and the exterior offers ample parking with striped spaces in front of the building plus a lot across the street.

Key Highlights

• Fully leased 4‑unit mixed‑use property with USPS on the ground floor and 3 occupied apartments above
• Commercial unit plus 3 apartments totaling 5,636 SF in well‑maintained condition with onsite laundry
• Tenant mix: one 1‑bedroom and two 2‑bedroom apartments; two apartments were fully remodeled in 2021

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office Alsten Apartments Apartment Building

Suggested Use

Top Pick Auto Repair Shop Restaurant Discount Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

27

Businesses Nearby

Explore this area Business Placement

Demographics for 55088, MN

1,889

Population

671

Households

2.8

Avg Household Size

44

Median Age

27%

College-Educated

93%

High-School Grad

36.7 sq mi

ZIP Area

51

Density / Sq Mi

$128,958

Median Household Income

$54,565

Median Earnings

$494,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully leased mixed-use building with a commercial ground-floor space, three apartments, onsite parking, and a 3-stall detached garage.

Where is this mixed-use property located?

The property is located at 4472 40th St W Webster, MN.

What are key features of this property?

This property features: Fully leased 4‑unit mixed‑use property with USPS on the ground floor and 3 occupied apartments above; Commercial unit plus 3 apartments totaling 5,636 SF in well‑maintained condition with onsite laundry; Tenant mix: one 1‑bedroom and two 2‑bedroom apartments; two apartments were fully remodeled in 2021