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224 Elm St W 4,240 SF 100% Leased Retail Building Norwood Young America, MN 55368 $284,700 ($67.15/SF)



Investment Highlights
- 4,240 SF two-story mixed-use building
- Prime downtown corner location on Elm St walkable setting
- Ground-floor open concept for retail with upper-level 8 oversized private suites or offices or apartment potential
- On-street parking available as well as a very close public parking lot.
Executive Summary
This is more than commercial real estate, its a destination for restoration. A place where people could gather to slow down, reconnect, and create or full retail, boutique and/or intentional living. This exceptional historic brick mixed-use zoned building could be a yoga or crafting retreat, spiritual gathering space, creative workshop event center, or boutique wellness collective - all in the heart of Norwood Young America MN, down Hwy 212 just 30 minutes from Minneapolis.
This beauty was originally constructed as professional offices and has been meticulously preserved. Over 4200 sf above ground plus a full basement with high ceilings.
With soaring ceilings throughout all 3 levels, multiple 9' high solid pocket doors, crown molding, and oversized windows welcome the natural warmth inside. All windows on the main level have been updated as well as multiple new LED lights. In 2009 all duct work, duel furnaces and central air were updated.
The main level features full open concept with a large south facing glass store front, 11' ceilings with open duct work (updated in 2009) and can easily be visualized for retail and boutique space, an art or exercise studio, or a relaxing wine lounge with the current beverage permit. There is a spacious updated handicapped main level 1/2 bath and storage room with shelving and a floor drain tub. Built in shelving in back of the space. Small loft space above the bathroom with electrical for decorative lighting. Electrical outlets in floor as well.
The upper level provides eight expansive light filled rooms with 11' ceilings and original pocket doors that whisper open into quiet gathering spaces. Perfect for professional offices, private wellness suites, or conversion to residential apartments with the two full stairwells leading to street and side close to public parking lot.
Full stone basement in mint condition features high ceilings, concrete floor, gas hot water heater, forced air furnace, updated electrical 200 amp CB box. There is also framed storage rooms, a 1/2 bath and hook-ups for laundry.
A rare opportunity to own a cornerstone downtown building with flexible income potential. Upon City approval this building has numerous opportunity -Wellness Operators, boutique retail, coffee-wine concepts, mixed-use investors, creative entrepreneurs, fitness studio, professional offices, upper level apartments.
Agents to verify all measurements.
This beauty was originally constructed as professional offices and has been meticulously preserved. Over 4200 sf above ground plus a full basement with high ceilings.
With soaring ceilings throughout all 3 levels, multiple 9' high solid pocket doors, crown molding, and oversized windows welcome the natural warmth inside. All windows on the main level have been updated as well as multiple new LED lights. In 2009 all duct work, duel furnaces and central air were updated.
The main level features full open concept with a large south facing glass store front, 11' ceilings with open duct work (updated in 2009) and can easily be visualized for retail and boutique space, an art or exercise studio, or a relaxing wine lounge with the current beverage permit. There is a spacious updated handicapped main level 1/2 bath and storage room with shelving and a floor drain tub. Built in shelving in back of the space. Small loft space above the bathroom with electrical for decorative lighting. Electrical outlets in floor as well.
The upper level provides eight expansive light filled rooms with 11' ceilings and original pocket doors that whisper open into quiet gathering spaces. Perfect for professional offices, private wellness suites, or conversion to residential apartments with the two full stairwells leading to street and side close to public parking lot.
Full stone basement in mint condition features high ceilings, concrete floor, gas hot water heater, forced air furnace, updated electrical 200 amp CB box. There is also framed storage rooms, a 1/2 bath and hook-ups for laundry.
A rare opportunity to own a cornerstone downtown building with flexible income potential. Upon City approval this building has numerous opportunity -Wellness Operators, boutique retail, coffee-wine concepts, mixed-use investors, creative entrepreneurs, fitness studio, professional offices, upper level apartments.
Agents to verify all measurements.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,240 SF
Building Class
C
Year Built
1896
Price
$284,700
Price Per SF
$67.15
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.62
Lot Size
0.06 AC
Zoning
C-3 - Multiple potential uses subject to City approval to include:
Downtown Norwood Young America location; Flexible C-3 Downtown Zoning; Mixed use commerci
Frontage
Amenities
- Corner Lot
- Signage
- Wheelchair Accessible
- Air Conditioning
- Awning
Somewhat walkable
30/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 58.0500560 | Improvements Assessment | $216,700 |
| Land Assessment | $20,000 | Total Assessment | $236,700 |
Property Taxes
Parcel Number
58.0500560
Land Assessment
$20,000
Improvements Assessment
$216,700
Total Assessment
$236,700
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224 Elm St W
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