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Property Description

There are many uses for this property which consists of 2 retail spaces on the ground floor. The large unit is currently occupied by the owner and is being used as a retail store. Owner will vacate at closing. The other unit is currently rented to a barber with a lease in place. The large unit is zoned restaurant but many uses are allowed by the City of St Cloud zoning requirements. The second floor consists of 4 residential rentals that are grandfathered in per the zoning code which include 2 – 1 bedroom apartments and 2 efficiency apartments. At full occupancy total revenue should exceed $40,000 per year with a cap rate of “13”.