1321 Frost Ave Maplewood, MN 55109-4469

Property Details for 1321 Frost Ave

Year built

1950

Construction

WOOD FRAME

Lot size

0.59 lot acres

Property size

8,527 SF

Property type

Super regional malls

APN

15-29-22-23-0105

APU

152922230105

Description

This exceptional investment opportunity presents a fully leased six-unit retail strip mall situated at 1321 Frost Avenue in Maplewood, Minnesota. The property encompasses 6,856 square feet and boasts a remarkable 7% cap rate, ensuring strong returns for investors. Currently operating at 100% occupancy, the strip mall benefits from a diverse tenant mix, including a long-established laundromat that has served the community since the 1960s, providing consistent income and tenant stability. The property's location within a rapidly developing area of Maplewood is a key advantage. Three new multi-family residential buildings, totaling over 150 units, are under construction nearby, promising a significant increase in foot traffic and potential for future business growth. A unique feature of this property is its own on-site well, eliminating city water bills and substantially reducing operating costs to only sewer expenses. This translates to significant cost savings and enhanced profitability. The property's prime location, strong tenant base, and low operating costs combine to create a compelling investment opportunity with excellent potential for long-term growth and substantial returns. This is a rare chance to acquire a stable, high-performing retail property in a thriving community. The asking price is $975,000.