113 5Th StMayer, MN 55360

Property Details for 113 5Th St

Year built

1920

Lot size

0.98 AC

Property size (Sq ft)

4,644 SF

Property type

Manufacturing properties

APN

50-0011101

APU

500011101

Description

This unique 6,250 square foot commercial property located at 113 5th Street NW in Mayer, Minnesota, presents a compelling investment opportunity. Situated on a 0.98-acre lot, this multi-story building boasts a rich history, dating back over a century. While requiring renovations, the substantial size offers considerable flexibility for redevelopment. The existing structure's layout spans two floors, providing ample space for a single large tenant or the potential for multiple smaller tenants. Its prime location offers easy access to nearby Waconia, enhancing its appeal to a wide range of businesses. The property's potential is further amplified by the availability of potential grants and Tax Increment Financing (TIF) opportunities, which could significantly reduce renovation costs. Interested parties are encouraged to contact the city of Mayer for detailed information regarding these financial incentives. This is a rare chance to acquire a substantial property with significant upside in a growing area. The building's existing structure provides a solid foundation for a variety of commercial uses, making it an attractive prospect for developers, investors, and entrepreneurs seeking a unique and potentially lucrative venture. The substantial square footage and generous lot size offer considerable room for expansion or adaptation to suit specific business needs. Don't miss this chance to transform a historic building into a thriving commercial enterprise. The combination of location, size, and potential financial assistance makes this property a truly exceptional investment opportunity.

• Alternative Use

  Use

  Valuation

  Residential

  $875,005

  Hospitality

  $801,500

  Educational

  $666,839

  Medical

  $689,772

  Retail

  $1,037,305

Location Insight

City

Mayer

County

Carver

State

Minnesota

Latitude

44.8892

Longitude

-93.8886

CBSA code

33460

CBSA name

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

Property Tax & Assessments

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