Property Listing No Longer Available for Sale

35 Washington Ave E, Hutchinson, MN

Multi-Use for Sale - $1,699,000 - 29,370 Sq. Ft. on 0.29 acres


Property Info

CIMLS#68541
Location
  35 Washington Ave E
  Hutchinson MN 55350
UpdatedJanuary 31st, 2010
TypeMulti-Use
Price$1,699,000
Building29,370 Sq. Ft.
Land0.29 acres

Property Description

The listed price is $200,000 below the appraised value and the profitable, growing business and equipment are virtually FREE. Located about 30 miles west of Hennepin County and 55 miles from the Mall of America in Hutchinson. Everything is new. Sales, cap rate and profits growing. Tax advantages due to TIF & depreciation. This ia an Art Deco Gem. Built in 1937 and totally renovated with the highest quality and attention to detail in 2005. The State is the only second run theater in the county (population 45,000)and the nearest second run theater is 50 miles away. Family friendly pricing on admissions and concessions is extremely popular in this sagging economy. Eight apartments were razed and 4 of the higest quality lofts were created. Email for a downloadable PDF information packed 10 page flyer.


Financials

Profitable since re-opening in 2005. Business and profits growing. Current cap rate is 5.33, will be over 6% by year end. Tax advantages through TIF refunds and depreciattion. Almost 2,000,000 invested. Finacial details to serious parties by nondisclosure.