Property Description
955 W Broadway AvenueForest Lake, MN 55025
Status: For Sale,For Lease, Pending
Property Type: Mixed Use,Office,Retail
PENDING - Car Wash Business For Sale and/or Redevelopment Opportunity
For Lease - 555 SF to 780 SF Retail/Office Space
CONFIDENTIAL - PLEASE DO NOT APPROACH THE BUSINESS DIRECTLY
This 3-tenant property offering includes a fully staffed owner-operated car wash requiring limited owner involvement. Income from the car wash along with rental income from the two rental spaces create an attractive investment. Located in the highly desirable Forest Lake retail trade area, the underlying and underused real estate makes for an extremely attractive redevelopment opportunity. Area tenants include Home Depot, Chipotle, Walmart Supercenter, Tires Plus, Northern Tool, Perkins, Running Aces Casino, Hotel and Racetrack, and more.
Highlights and Features:
- Local and regional trade area
- Just 2 blocks off I-35 and Forest Lake exit
- High traffic counts
- Great visibility
- 2 access points: West Broadway Avenue and First Avenue Northeast
- In the heart of the business district
Demographics and Traffic Counts:
- Average Household Population: 1 mile - 3,223, 3 miles - 12,795 and 5 miles - 21,300
- Average Household Income: 1 mile - $55,528, 3 miles - $77,808 and 5 miles - $78,262
- I-35 - 67,590 vpd, and W Broadway Ave - 24,665 vpd
Available For Sale - Property and Business:
- PIDS: 08.032.21.22.0059, 08.032.21.22.0057, 08.032.21.22.0026 and 08.032.21.22.0025
- Building SF: 4,680
- Parcel Area: 1.18 acres 51,596 sf
- Year Built: 2001
- Zoning: B2 - Highway Business District
- 2017 Tax Cut and Jobs Act allows for up to accelerated depreciation on property improvements for car wash assets.
- 2024 Tax: $22,344
- Sale Price: $999,000
Available For Lease:
- 780 sf
- 555 sf (drive-thru available)
- Lease Rate: Negotiable
Additional Info
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