Description: This charming 10,000 + sq. ft. 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 Air B&Bs. All three units are one-bedroom, living/dining room, 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. Perfect for a 1031 exchange!
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 5 years old and appears to be in great condition.
Interior Features: This property has all three retail spaces leased with all three apartments being rented out a couple times a week as Air B&B. Building has a combination of wood, tile and carpeted. The walls are a combination of 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 $1,900,000 for the building. The three apartments generate approx. a gross income of $125,000 annually, and the three retail spaces generate approx. $58,800 annually. Seller financing is available.
REASON FOR SALE: Other Interest.