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SOLD!
4461 & 4469 Main Street (CR 11), Pequot Lakes, MN 56472
For Lease, For Sale $175,000.00 - Price | 750 - Lease Rate
Detailed Brochure

SOLD!

Excellent opportunity to invest in the Pequot Professional Center located along Main Street (CR 11) in Pequot Lakes. Approximately 2,664 square feet is leased by three tenants leaving 888 square feet available for a new tenant. Priced at an approximate 12% cap rate with the opportunity to increase cash flow by leasing the vacant unit.

  • Purchase Price: $175,000.00
  • Lease Price (Month): 750
  • Directions: From stoplight intersection in downtown Pequot Lakes - East on Main Street (CR 11) two blocks - Property is the SE corner of Main Street (CR 11) and Washington Ave
  • Building Size Total (Sq. Ft): 3,552
  • Building Size Main (Sq. Ft): 3,552
  • Lot Size (Sq. Ft): 6,000
  • Lot Size (Acres): 0.14
  • Lot Dimensions: 60' x 100'
  • Road Frontage: 60’ along Main Street (CR 11), 100’ along S Washington Ave and 100’ of visibility along Old Hwy 371/Rassmussen Rd (CR 112)
  • Lease Size Total (Sq. Ft): 888
  • Lease Size Main (Sq. Ft): 888
  • Price Note: Approx. 12% Cap Rate. Building is 75% occupied with an approximate Annual Cash Flow of $21,000. Opportunity to increase cash flow by leasing the vacant unit. Detailed Rent Roll and Financials are available upon request.
  • Lease Type: Gross - Includes Utilities
  • Terms of lease: $750/Month Gross - Includes Utilities (888 sq. ft.)
  • Property Tax Year: 2020
  • Annual Property Tax: $5,200.00
  • Annual Cash Flow: 21000
  • Cap Rate: 12%
  • Property Features / Assets: Building: 3,552 SF Total + 576 SF Basement. Suite 4461A: 1,124 SF (Edward Jones); Suite 4461B: 888 SF (Vacant - AVAILABLE); Suite 4461C: 700 SF (First American Title); Suite 4469: 840 SF (HRA).
  • Water: City
  • Sewer: City
  • Heating: Natural Gas Forced Air
  • Cooling: Central Air - 4 Electric Ground Units
  • Electric – Amps: 200
  • Electric – Phase: Single
  • Lighting: Fluorescent
  • Year Built: 2000
  • Construction: Wood Frame
  • Foundation: Concrete Block
  • Roof: Asphalt Shingles
  • Exterior: Manufactured Log Siding
  • Ceiling Height: Vaulted 8'-12'
  • Bathrooms: 4 Total (1 per Suite)
  • Parking Spaces: 8 On-Street Paved Parking Spaces (Washington Ave) and 6 Paved Parking Spaces to the east of the building, but not owned by the building
  • Adjacent Tenants: Building Tenants Include: Edward Jones, HRA and First American Title
  • Neighboring Businesses: Located in the heart of downtown Pequot Lakes, neighboring businesses include the American Legion, the Jackpine Center, Sweet Life Bakery, Wild Daisy, Expression Shoes, Pfeiffer Drug, Fun Sisters, Lakes Latte, Lucky’s Tavern, Latte Da Gifts, Lakes Dental, Leslie’s, the Country Corner Mall, Dollar Tree, Dollar General, Wells Fargo, Super America, plus numerous others.
  • Traffic Counts: 5,200 - 5,900 on Main Street (CR 11), 1,700 on Old Hwy 371 (CR 112) and 3,000 -3,850 on Patriot Ave (former Hwy 371)
  • MLS #: 5625499
  • CC File #: 1571
  • Zoning: Downtown Mixed Use
  • PID#: 29101009 & 29101010
  • Legal Description: Legacy PID#: 29102005001C009 & 29102005001B009. W 30 ft of Lot 1 Block 5 and E 30 ft of W 60 ft of Lot 1 Block 5, Cole’s Plat of Pequot
Property Map