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$449,900

14 Beds 8 Baths 6,411 SQFT 0.70 Acres
Type: Commercial

18 NE Schmitz Street
Adams, MN 55909

MLS#: 7006896
Karen Stiles
Karen Stiles
The Real Estate Advantage
Agent
Phone: 651.329.4735
Office: 952.226.7700
Presented by: Compass

Property Description

 

Well-maintained 8-unit apartment building located in Adams. The property features a balanced unit mix of six 2-bedroom units and two 1-bedroom units. The building is configured with two separate coin-operated laundry rooms, one serving each section of the property. Electric utilities are separately metered, and electric heat is provided, allowing residents to manage their own utility usage. The property currently operates with on-site management, which is available to remain in place or may transition at the discretion of new ownership. Existing leases allow for 30-day notice to vacate following a change in ownership, offering operational flexibility.


 

Interior Features

Bedrooms

Total Bedrooms14

Bathrooms

Total Baths8

Other Interior Features

Basement (Y/N)No
FuelNatural Gas

General

AccessibilityNone
Additional Parcels Y/NNo
AppliancesRange, Refrigerator
CityAdams
ContingencyNone
CoolingWall Unit(s)
CountyMower
Current UseResidential
DirectionsGo to Adams, from MN-56 (Shooting Star Scenic Bywy) turn left onto Schmitz Street, Property is across from Mill
Electric Expense500
Fuel Expense500
Garage Spaces0
Gross Income60300
HeatingBaseboard
High School DistrictSouthland
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Lot Size UnitsAcres
MaintenanceExpense1025
Net Operating Income50400
New ConstructionNo
Number Of Units Total8
Operating Expense9900
Possible UseOffice, Motel/Hotel
PostalCityAdams
Property TypeCommercial Sale
RoofAsphalt
SewerCity Sewer - In Street
Standard StatusActive
Subdivision NameMays 1st Add
Tax Annual Amount$6,856
Tax Year2026
Tenant PaysElectricity, Heat
Trash Expense5000
UtilitiesElectric Separate, Heating Separate, Hot Water Common
Water Sewer Expense1500
Year Built1979
Zoning DescriptionBusiness/Commercial, Residential-Multi-Family

Exterior

Building Area Total6,411 sqft
Foundation Area3,072 sqft
InclusionsBuilding, Leases
Lot Dimensions180x170
Lot Size Area0 sqft
Parking FeaturesGravel
Road ResponsibilityPublic Maintained Road
Water SourceCity Water - In Street
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$449,900

14 Beds 8 Baths 6,411 SQFT 0.70 Acres
Type: Commercial

18 NE Schmitz Street
Adams, MN 55909

MLS#: 7006896
Karen Stiles
Karen Stiles
The Real Estate Advantage
Agent
Phone: 651.329.4735
Office: 952.226.7700