201-207 Plum St
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201-207 Plum St
Apartment Building $1,349,900 6.82% Cap Rate Red Wing, MN 55066
Investment Highlights
- NEWER TPO ROOFS
- NEWER CUSTOM SIZE DOUBLE PANE WOOD WINDOWS
- EXTERIOR BRICK RECENTLY ALL TUCK-POINTED
Executive Summary
LOCATED IN THE HEART OF DOWNTOWN RED WING’S CENTRAL BUSINESS DISTRICT IS THIS WELL CONSTRUCTED ALL-BRICK MIXED-USE INVESTMENT PROPERTY FEATURING FOUR COMMERCIAL SPACES AND FIVE APARTMENTS!! THE MAIN FLOOR OFFERS 4,800 SQUARE FEET OF RETAIL, OFFICE, OR RESTAURANT SPACE DIVIDED INTO FOUR SEPARATE 1,200 SQFT UNITS. CURRENTLY ALL FOUR COMMERCIAL SPACES ARE LEASED TO SOLID BUSINESS’S. THE MIDDLE TWO UNITS ARE LEASED BY ONE COMPANY. THE SECOND AND THIRD FLOORS ARE APARTMENTS THAT ARE FULLY LEASED AND EASY TO KEEP RENTED. TWO OF THESE UNITS HAVE VERY UNIQUE TWO STORY LAYOUTS AND ONE OF THE OTHER TWO BEDROOM UNITS FEATURE THREE LARGE SKYLIGHTS WHICH MAKES THE APARTMENT FEEL LARGER. THE KITCHENS AND BATHROOMS HAVE BEEN RENOVATED IN THE LAST 20 YEARS. THE BUILDING HAS RECEIVED NEWER WHITE TPO ROOFS, CUSTOM SIZE DOUBLE PANE WOOD WINDOWS, STYLISH BLACK AWNINGS, AND THE EXTERIOR BRICK WAS RECENTLY TUCK-POINTED. THE LOWER LEVEL BASEMENT HAS AN ADDITIONAL 4,800 SQUARE FEET OF STORAGE SPACE THAT DOES STAY DRY. 201 PLUM STREET IS A PROPERTY THAT IS VERY WELL MAINTAINED AND LOW MAINTENANCE. CURRENT ANNUAL GROSS INCOME OF $127,000. PERFECT FOR YOUR 1031 TAX EXCHANGE OR FOR RETIREMENT!!
Data Room Click Here to Access
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$126,000
|
$12.12
|
| Other Income |
$2,400
|
$0.23
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$128,400
|
$12.35
|
| Taxes |
$13,856
|
$1.33
|
| Operating Expenses |
$22,425
|
$2.16
|
| Total Expenses |
$36,281
|
$3.49
|
| Net Operating Income |
$92,119
|
$8.86
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $126,000 |
| Annual Per SF | $12.12 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.23 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $128,400 |
| Annual Per SF | $12.35 |
| Taxes | |
|---|---|
| Annual | $13,856 |
| Annual Per SF | $1.33 |
| Operating Expenses | |
|---|---|
| Annual | $22,425 |
| Annual Per SF | $2.16 |
| Total Expenses | |
|---|---|
| Annual | $36,281 |
| Annual Per SF | $3.49 |
| Net Operating Income | |
|---|---|
| Annual | $92,119 |
| Annual Per SF | $8.86 |
Property Facts
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Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 55.005.4210 | Total Assessment | $841,700 (2024) |
| Land Assessment | $76,800 (2024) | Annual Taxes | $13,856 ($0.91/SF) |
| Improvements Assessment | $764,900 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
55.005.4210
Land Assessment
$76,800 (2024)
Improvements Assessment
$764,900 (2024)
Total Assessment
$841,700 (2024)
Annual Taxes
$13,856 ($0.91/SF)
Tax Year
2025 Payable 2025
zoning
| Zoning Code | Commercial (General Business Mixed-Use) |
| Commercial (General Business Mixed-Use) |
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201-207 Plum St
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