Description: 10,000 SF Retail / Airbnb located in the “Heart” of Stillwater. Building is located on the high demand south side of town, east side of main street, downtown Stillwater. With 5,200 sq. ft. ground floor and 3 retail spaces, second-floor area of +/- 4,900 sq. ft. The ground floor has a 12’ ceiling height with a tin ceiling, plaster walls and hardwood floor; the basement is 4,000 sq. ft. and is used for storage. Clear height is about 5’ 8”. The second floor has three unique apartments used as Airbnb and Verbo. All three units are one-bedroom, living/dining room, full kitchen, full bath, and laundry/storage. The roof has a deck at the back of the building with expansive views of the river and bluffs. There is a manager in place that handles all inquiries for the apartments and does the cleaning as well. This is a great 1031 exchange opportunity!
Exterior Features: The building is mill construction with brick walls and wood posts and beams. The brick walls are exposed in the apartment units and plastered/brick in the retail units, the roof is a rubber bladder that is flat with a pitch. The roof is approximately 6 years old and appears to be in great condition.
Interior Features: This property has all three retail spaces leased on main level with all three apartments being rented out a few times a week as Airbnb and Verbo on second level. These apartments are considered the premier apartments in Stillwater. Building has a combination of wood, tile and carpeted. The walls are a combination of exposed brick, drywall, and plaster. Ceilings are painted drywall, tin and open. The building uses forced air for heat and cooling.
Age / Condition: Built in 1858. The interior and exterior are in good condition.
ASKING PRICE: The owner is asking $1,850,000 for the building. The three apartments generate approx. a gross income of $170,200 annually, and the three retail spaces generate approx. $69,600 annually.
REASON FOR SALE: Other Interest