701 Central AveSaint Michael, MN 55376

Property Details for 701 Central Ave

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.17 AC

Property size (Sq ft)

8,770 SF

Property type

Banks

APN

114-028-002020

APU

114028002020

Description

This 8,700 square foot, single-story building, situated on a 1.83-acre lot, presents a unique investment opportunity in Saint Michael, Minnesota. Formerly a bank, this vacant property offers significant potential for redevelopment or repurposing as office space. The building, constructed in 1980, boasts a prime location on Central Avenue E, experiencing an average daily traffic count of 19,400 vehicles. Its strategic placement across from Cub Foods, the city's only grocery store, ensures high visibility and accessibility. The property benefits from a drive-thru opportunity and is situated within a thriving retail corridor, alongside established businesses such as CVS, Walgreens, Subway, Domino's, and O'Reilly Auto Parts. The area is experiencing robust commercial development, further enhancing the property's value. Its proximity to major employers like J&B's, Die Technology, Nanotech Precision, and New Plastics Plus, Inc., adds to its appeal. Conveniently located 25 minutes from downtown Minneapolis and 35 minutes from St. Cloud, this property offers exceptional access to a larger market. Saint Michael itself is a highly desirable location, ranked #3 best city to live in Minnesota, and benefits from the highly-rated St. Michael Public School District, ranked #16 in the state. The asking price is $1,950,000, translating to $224.14 per square foot. The property is offered as a NNN lease.

Location Insight

City

Saint Michael

County

Wright

State

Minnesota

Latitude

45.2094

Longitude

-93.651

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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