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8054 Spring Lake Road

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Home/MN/Spring Lake Park

8054 Spring Lake Road

Spring Lake Park, MN 55432
Asking Price
$575K
Asset Type
Commercial Land
Class
Class B

What's Special

Prime 1.7 Acre Corner On Co. Hwy 10 & Spring Lake Rd. Zoned C2 City will allow medium-density. <p><span style="color: rgba(0, 0, 0, 1)">Zoned C2 with limited commercial uses (auto-related uses restricted due to surrounding properties). Per city, Comprehensive Plan guides site for medium-density residential (up to 10 units/acre). City has indicated receptiveness to R-3 rezoning; higher density would require Comprehensive Plan amendment and approvals. Estimated yield approximately 14–17 units depending on site design. Standard multifamily parking requirement is 2.5 spaces/unit (1 enclosed).

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NOI
$80,000
Cap Rate
13.91%
DSCR
2.34
Strong
Cash-on-Cash
26.59%
Monthly Payment
$2,844.786
Annual Cash Flow
$45,862.565

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