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$500,000

0 Beds 0 Baths 20,100 SQFT 0.41 Acres
Type: Commercial

201 E Clark Street
Albert Lea, MN 56007

MLS#: 7145184
Michael Forrest
Michael Forrest
The Real Estate Advantage
Agent
Phone: 952.210.6951
Office: 952.226.7700
Presented by: Century 21 Atwood

Property Description

 

Don't miss out on this opportunity with this extremely well maintained office building with over 20,000sf of furnished floor area located in Albert Lea's downtown Central Business District. Included with these areas are private offices, two large conference rooms, employee breakroom, storage areas and indoor parking. (some of the private offices are provided with a lakeview). All three levels of this building have upper scale office furnishing including, desks, chairs, file cabinetry, modular office wall partitions and much more. The estimated value of these listing furnishings are in the $100,000.00 range and are included with the listing price. The building elevator which services all three levels is currently rendered inoperable but can be placed back into service upon request. There is currently a lease in place for approximately 5000s.f on the main level office area, this lease expires in 2028, a copy of this current lease is available upon request. This building also has a backup power generator that will service the entire building during times of power outages. This building could be utilized for one single tenant or could be easily split into four separate lease spaces.


 

Interior Features

Other Interior Features

Basement (Y/N)No
Ceiling Height8-10
Foundation Dimensions112' x 66'
FuelNatural Gas
Garage Dimensions54' x 36'
Garage Square Feet1944

General

AccessibilityDoors 36 +, Accessible Elevator Installed, Fully Wheelchair, Grab Bars In Bathroom, Hallways 42 +, Door Lever Handles
Additional Parcels Y/NNo
Amenities UnitNatural Woodwork, Paneled Doors
AppliancesElectric Water Heater
CityAlbert Lea
Construction MaterialsBrick, Concrete
ContingencyNone
CoolingCentral Air
CountyFreeborn
Current UseProfessional/Office, Commercial, Office
DirectionsProperty is one block east of N Broadway Ave. on the northeast corner on the intersection on No. Newton Ave. and E. Clark Street. Next door to the east of the Albert Lea City Hall.
Electric Expense13315
Fuel Expense5607.48
Garage Spaces4
Gross Income85059.96
HeatingForced Air
High School DistrictAlbert Lea
Insurance Expense6992
Land Lease Y/NNo
Lender OwnedNo
LevelsThree Or More
Lot Size UnitsSquare Feet
MaintenanceExpense4384
Net Operating Income33870.48
New ConstructionNo
Number Of Units Total4
Operating Expense32293.34
OwnerPaysCommon Area Maintenance, Electricity, Exterior Maintenance, Fuel, Gas, Grounds Care, Heat, HVAC Maintenance, Insurance, Management, Sewer, Snow Removal, Taxes, Water
Pool FeaturesNone
Possible UseOffice, Professional Service, Income, Medical/Dental
PostalCityAlbert Lea
Property TypeCommercial Sale
RoofAge Over 8 Years, Flat, Rubber
SewerCity Sewer/Connected
Standard StatusActive
Tax Annual Amount$16,242
Tax Year2026
Tenant PaysCable TV, Common Area Maintenance, Janitorial Service, Security
TopographyWalkout
Trash Expense0
UtilitiesElectric Common, Heating Common, Hot Water Common
ViewBay, North
Water Sewer Expense1124
Waterfront FeaturesLake View
Year Built1916
Zoning DescriptionBusiness/Commercial

Exterior

Building Area Total20,100 sqft
FencingNone
Foundation Area8,052 sqft
InclusionsBuilding, Fixture/Equipment, Land, Leases
Lot Dimensions240' x 74'
Lot FeaturesCorner Lot, Tree Coverage - Light, Underground Utilities
Lot Size Area17,760 sqft
Parking FeaturesAttached Garage, Concrete, Floor Drain, Garage Door Opener, Heated Garage, Parking Garage, Shared Garage/Stall, Tuckunder Garage
Road Frontage TypeCity Street, Paved Streets, Sidewalks, Street Lights, Storm Sewer
Road ResponsibilityPublic Maintained Road
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

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

  

Similar Properties

$500,000

0 Beds 0 Baths 20,100 SQFT 0.41 Acres
Type: Commercial

201 E Clark Street
Albert Lea, MN 56007

MLS#: 7145184
Michael Forrest
Michael Forrest
The Real Estate Advantage
Agent
Phone: 952.210.6951
Office: 952.226.7700