FOR SALE

2535 Condon Ct.
Mendota Height, MN 55120

2535 Condon Ct. Mendota Heights, MN

Available

  • Building Size: 2,732 SF
  • Land: 0.38 Acres

Property for Sale

  • Purchase Price: $665,000
  • Estimated Tax: $4,760
  • PID #: 27-03500-80-021 ZONING: B-1
  • Year Built: 1977
  • 6 bed and 4 bath
  • Cooling: Central Air
  • Heating: Forced Air Building has sprinklers

Recent Improvements

  • Roof: 2021
  • Septic (mound): 2021
  • Driveway: 2019
  • Furnace and A/C: 2019
  • Attic Insulation: 2017
  • New Windows: 2017

Leasing Information

  • TENANT: Bridge Autism Clinic
  • LEASE TERM: Sixty (60) months.
  • NET RENTAL RATE: 4,500/month with 5% annual increase.
  • LEASE EXPIRATION: 1/31/27
  • OPERATING EXPENSES: Landlord pays 2535 Condon Ct, Mendota Heights, MN 55120
  • OPTION TO RENEW: Tenant has one (1) Three-year option to renew the lease.

RATE OF RETURN WITH INCREASES

  • YEAR 1: 7.25%
  • YEAR 3: 8%
  • YEAR 5: 9%

Summary

Great opportunity for an investor. This large lot at a cul- de-sac is a commercial building that is 100% occupied by the Bridge Autism Clinic who operates during daily normal business hours. They have almost 5 years left on their lease. Tenant pays for all operating expenses except Taxes and Insurance. This building is B1-zoned licensed and can be converted eventually back to a single family home. Has had many upgrades within the past few years. Easily accessible to 494. Under 10 minutes from MSP airport, 15 minutes from St. Paul CBD and 20 Minutes from Minneapolis CBD.

Additional Information

PRA Commercial Real Estate
Mike Wendorf
Joe Fine
952-681-0580

2535 Condon Ct Mendota Height, MN
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