225 N LAKE AVENUE Phillips WI 54555
Commercial/Industrial
$ 259,900.00
- MLS #: 22404897
- Date added: 10/17/24
- Post Updated: 2024-10-17 22:57:09
- Type: Business Opportunity w/RE
- Status: Active - With Offer
- Area: 6645 sq ft
- Year built: 1977
Description
Sq. Ft is agent measured, buyer to verify. EM held at Gowey Title. Possible brown site (soil contamination) due to abandoned gas station next door. Seize the chance to own a prime commercial property situated on the busiest highway in Phillips, WI! This multi-use property features five spacious apartmentsâtwo offering stunning water viewsâalong with a spacious storefront business space complete with a showroom, large office, break room, and bathroom. Tenants pay extra for garage space, and the four advertising slots on the building’s side generate additional monthly revenue. With a high yearly income after expenses, this property is a fantastic opportunity for anyone looking to expand their investment portfolio! The new owner shall honor all existing leases and contracts as landlord until the previously agreed upon date of termination. Donât miss out on this prime investment opportunity!
Rooms&Units Description
- Number of Units: 6
- Restrooms: 6
Location Details
- Municipality: Phillips, City Of
- County: Price County
- Directions: N on HWY 13, on left
- Area Desc: Other
- LOCATION: Free Standing,Near Major Highway
- ZONING: Commercial
Property Details
- CONSTRUCTION: Concrete Block
- # of Stories: 2
- # of Buildings: 1
- Building Sq Ft: 5001-10000
- BUILDING TYPE: 2 Story
- Land Sq Ft: 1-10000
- Sq Footage Retail:: 1175
- Sq Footage Basement:: 2567
- Sq Footage Other:: 4078
- Number of Acres: 0.06
- Sale/Rent: For Sale
- Annual Rent: 36978
- LEASE TYPE: Mixed Lease Types,Annual
- Age: 47
- Home Warranty Included: No
- POSSIBLE USE: Retail,Office,Business,Shopping Center,Beauty/Barber,Mixed Use,Apartment building,Bakery,Graphic/Print Shop,Specialty/Gift Shop
- Present Use: Retail
Property Features
- ROOF: Flat,Membrane/Rubber
- BASEMENT: Block,Full,Walk Out/Outer Door
- HEAT TYPE: Baseboard
- FUEL TYPE: Natural Gas
- ELECTRICAL/COMMUNICATIONS: High Speed Internet Acces
- Parking: Garage, Alley, Street Parking Garage,Street Parking,Blacktop/Asphalt,Gravel,1-10 spaces
- WATER/WASTE: Municipal Sewer,Municipal Water
- Waterfront: No
- # of Entry Doors: 5
Fees&Taxes
- Tax Amount: $ 3,505.56
- Tax Year: 2023
Miscellaneous
- Total Expense: 12466
- Net Income: 24512
- MISCELLANEOUS: Gas Hot Water Heater,Utility Separate Meter,Living Area In Building,Inside Storage,Display Window,Fire Alarm,Security System,High Traffic Location,High Visibility,Highway Access,Kitchen Area,Alley,Reception Area,Signage Available,Smoke Detectors
- Total Income: 36978
- SALE INCLUDES: Lease(s)
Courtesy of
- Office Name: RE/MAX NEW HORIZONS REALTY