147 BroadwayWells, MN 56097

Property Details for 147 Broadway

Year built

1910

Lot size

0.10 AC

Property size (Sq ft)

6,500 SF

Property type

Investment properties

Property subtype

Live-work space

APN

30.200.3711

APU

302003711

Description

This exceptional mixed-use property, located at 147 S Broadway in Wells, Minnesota, presents a compelling investment opportunity. The 9,000 square foot building sits on a 0.1-acre lot and boasts a strong, consistent income stream. The main floor comprises two retail storefronts, both currently under lease, generating significant rental income. Adding to the property's profitability, the second floor features four apartments, all fully occupied and contributing to the substantial monthly revenue. The current monthly income from all tenants totals $3,300, providing a stable and attractive return on investment. This property is ideally suited for an investor seeking a turnkey operation with immediate cash flow. The location on South Broadway offers excellent visibility and accessibility, ensuring continued tenant occupancy and potential for future appreciation. The building's mixed-use nature provides diversification and resilience in the current market. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location. The strong tenant occupancy and consistent rental income make this an exceptional investment opportunity not to be missed. Serious inquiries only. Financial statements are available upon request. This property is being offered at $329,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,069,972

  6.5%

  $987,666

  7%

  $917,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $331,760

  Geo Method

  $331,760

• Alternative Use

  Use

  Valuation

  Residential

  $1,224,706

  Hospitality

  $1,121,824

  Educational

  $933,344

  Medical

  $965,444

  Retail

  $1,451,869

Location Insight

City

Wells

County

Faribault

State

Minnesota

Latitude

43.7433

Longitude

-93.7252

Property Tax & Assessments

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