Listed by MRG Realty Partners
$1,850,000
312 N Lawler Apartments
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 21,000
Units 26
Cap Rate 7.00%
NOI $125,846
Tenancy Multi
Class C
Year Built 1905
Year Renovated 2024
Buildings 1
Acreage 0.330
Zoning Multifamily, Commercial
Parking Spaces 22 spaces
Parking Per SqFt 1.05
Investment Type Stabilized
Ground Lease No
312 N Lawler St, Mitchell, SD 57301
Marketing description
312 N Lawler Apartments offers the opportunity to acquire a stabilized mixed-use multifamily asset in the downtown core of Mitchell, South Dakota. The property features 23 residential apartments and 3 commercial suites, providing diversified income streams and durable demand drivers. Constructed in 1905, the building offers historic brick construction, in-place cash flow, and potential upside through operational efficiencies and targeted upgrades.
Investment highlights
- Stabilized in-place cash flow with diversified residential and commercial income
- Downtown Mitchell location with walkable access to services and employment drivers
- Historic brick construction (1905) with durable architecture
- Attractive basis relative to replacement cost for comparable downtown product
- Upside potential via rent optimization, expense controls, and selective improvements
Listing Contacts
Listed by MRG Realty Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$125,846.41
$10,487.20/mo
Valuation Metrics
0
DSCR
6.8%
Cap Rate
6.8%
ROI
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