402 1St Ave Austin, MN 55912

This exceptional commercial investment property in Austin, MN, presents a compelling opportunity. The 3,700 square foot building boasts a 100% occupancy rate, anchored by H&R Block and Papa Murphy's, operating under a multi-tenant Absolute NNN lease structure. The current lease, commencing September 1, 2015, and expiring August 31, 2025, provides a remaining term of approximately 0.8 years, with both tenants expressing intentions to renew. The property generates a substantial net operating income (NOI) of $43,200 annually, translating to a compelling 9.60% cap rate. Monthly rent currently stands at $3,600, with a scheduled increase to $4,025 per month starting September 1, 2024. Tenants are responsible for all operating expenses, including property taxes, insurance, building maintenance, snow removal, and lawn care. The sale includes a separate parcel encompassing the convenient 10-space parking lot situated directly in front of the building. Built in 1970, this Class B property is zoned 3A Commercial and sits on a 0.29-acre lot. Detailed lease agreements are available upon request. This stabilized investment offers a strong return and significant upside potential. The property's prime location in Austin, MN, ensures consistent cash flow and long-term value.