Home › 324 Lowell Avenue NW, Elk River, MN 55330 (MLS# 6431730)

324 Lowell Avenue NW, Elk River, MN 55330 (MLS# 6431730)

$1,400,000
324 Lowell Avenue NW
Elk River, MN 55330
MLS# 6431730
Status: Closed

324 Lowell Avenue NW, Elk River, MN 55330
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324 Lowell Avenue NW, Elk River, MN 55330 324 Lowell Avenue NW, Elk River, MN 55330 324 Lowell Avenue NW, Elk River, MN 55330 324 Lowell Avenue NW, Elk River, MN 55330

Property Description
6.79% Cap Rate. 2022 built Caribou Cabin with prime Hwy 10 frontage. Triple net lease with 8.5 years remaining of the initial 10-year term. 10% rent increase after year 5. Three additional 5-year options with 10% rent increases after the initial 10-year term.

Details
Maps
Contract Information
Status: Closed
Off Market Date: 2024-11-25
Current Price: 1325000
Closed Date: 2024-11-25
Sales Close Price: 1325000
Contingency: None
ListPrice: 1400000
List Date: 2023-09-12
Owner is an Agent?: Yes
Auction?: No
General Property Information
Multiple PIDs?: No
Other Parking Spaces: 19
Owner Occupied: No
Year Built: 2022
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 605
For Sale or Lease: For Sale
Acres: 0.55
Lot Dimensions: 179x150x141x155
Location Tax and Other Information
House Number: 324
Street Name: Lowell
Street Suffix: Avenue
Street Direction Suffix: NW
Postal City: Elk River
County: Sherburne
State: MN
Zip Code: 55330
Complex/Dev/Subdivision: Village Elk River
Assessments
Tax With Assessments: 4444
Building Information
Building Finished SqFt: 605
Building SqFt: 605
Income and Expenses
Annual Gross Income: 95000
Annual Net Income: 95000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 26
Section#: 34
Township#: 33
Sale Options
Sale Includes: Building, Land, Leases
Unit Details
Total Units: 1
Property Features
Accessible: No Stairs Internal
Air Conditioning: Central Air
CMU Style: Single Occupancy
Construction Status: Previously Owned
Current Use: Food Service
Exterior: Brick/Stone; Cement Board; Metal; Wood
Financing Terms: Other
Fuel: Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional
Lot Description: Corner Lot
On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate
Parking Characteristics: Parking Lot
Road Frontage: City Street; Paved Streets
Road Responsibility: Public Maintained Road
Roof: Metal
Sewer: City Sewer/Connected
Tenant Pays: All Utilities; Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Other
Water: City Water/Connected

Listing Office: Acuity Group

Last Updated: November - 26 - 2025

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Tuesday 2nd of June 2026 07:00 PM

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