8979 County Road 5 North Branch, MN 55056
- Commercial real estate
- 3.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 8979 County Road 5
- Year built
- 1965
- Lot size
- 3.00 lot acres
- Property type
- Commercial real estate
Description
This stabilized multifamily investment property, a charming two-story triplex, presents a compelling opportunity in North Branch, Minnesota. Located at 8979 County Rd 5, 55056, this 1965-built property underwent renovations in 2000 and sits on a spacious 3-acre lot. The building comprises three units, each currently generating strong rental income, contributing to a current Net Operating Income (NOI) of $24,083, representing an 8.03% capitalization rate. Pro forma projections indicate a potential NOI of $28,000, boosting the capitalization rate to a promising 9.33%. The asking price is $300,000, translating to $100,000 per unit. This represents a strong value proposition for investors seeking a stable, cash-flowing asset with potential for future appreciation. The property's location in Isanti County within the desirable North Branch community ensures consistent tenant demand. The existing units are well-maintained and offer modern amenities, attracting high-quality tenants. The substantial lot size offers potential for future expansion or value-add improvements, further enhancing the property's long-term investment potential. This triplex is ideal for both seasoned investors seeking a solid addition to their portfolio and those new to real estate investment looking for a stable and profitable venture. The property's strong historical performance and upside potential make it a truly attractive investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Branch
- County
- Isanti
- State
- Minnesota
- Longitude
- -93.0432718
- Latitude
- 45.501256
