NEED TO SELL your home to buy this one?
  • 554 3rd Street Nw

  • Elk River, MN 55330
  • Neighborhood: Village Elk River
  • $795,000
  • MLS® #: 5487284
  • Year Built: 1961
  • Days Listed: 288
Commercial Sale property for sale in Elk River, MN at 554 3rd Street Nw. This property is priced at $2,409,091/acre.

Description of 554 3rd Street Nw, Elk River, MN 55330 - $795,000

6,528 SF above ground, 9,792 SF including lower level. Approximately $68,000 in place NOI/8.6% Cap Rate. (3) lower level suites available at $300 each creating potential fully occupied Cap Rate of 9.9%. C-1 Central Commercial District zoning. Great multi-tenant office building investment opportunity. Excellent downtown Elk River location. Seller is replacing the main roof, and all the asphalt shingled mansard roof spring 2020. Two above ground levels, and one lower level. Common areas include 2 stairwells, elevator, and 6 restrooms. Well maintained building with brick front, architectural mansard roof, and arched window openings. Well maintained HVAC. The parking lot is in good shape, and has ample parking with approximately 32 spots. On street parking available as well. Building signage included for tenants.

Essential Information

  • MLS® #5487284
  • Price$795,000
  • Acres0.33
  • Year Built1961
  • TypeCommercial Sale
  • Sub-TypeOffice
  • StyleOffice
  • StatusActive


  • HeatingForced Air

Community Information

  • Address554 3rd Street Nw
  • SubdivisionVillage Elk River
  • CityElk River
  • CountySherburne
  • StateMN
  • Zip Code55330


  • ConstructionBrick/Stone,Block


  • GaragesOpen

Additional Information

  • Listing OfficeSummerhill Commercial Real
  • Days on Market288
  • ZoningBusiness/Commercial

Kris LindahlREALTOR®

Mortgage Calculator

Down Payment: Monthly Payment:

Property Location for 554 3rd Street Nw, Elk River

Get directions to this property:

Price Change History for 554 3rd Street Nw, Elk River, MN (MLS® #5487284)

Date Details Price Change
Price Reduced (from $895,000) $795,000 $100,000 (11.17%)
Please provide a valid email address.

The data relating to real estate for sale on this site comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Kris Lindahl - Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity house icon and detailed information about them includes the names of the listing brokers. Kris Lindahl - Real Estate is not a Multiple Listing Service MLS, nor does it offer MLS access. This website is a service of Kris Lindahl - Real Estate, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.

Information deemed reliable but not guaranteed.

Copyright 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.

By searching, you agree to the EULA Terms Agreement.

Listing information last updated on December 1st, 2020 at 11:21am CST.