2009 Commerce Blvd

Mound, MN 55364

$2,650,000
Price
—
Beds
—
Baths
16,324 Sq. Ft.
$162 / Sq. Ft.
16,324
Sq. Ft.
$162
per Sq. Ft.

Description

Value-add! 23-unit apartment property in growing western suburb of Lake Minnetonka. Charming side-by-side buildings with new pitched roofs, gutters, AC-Smith water heaters, and common area lights. New boilers in 2018, hot water baseboards individually controlled via in-unit thermostats. We just began rolling out RUBS, where tenants are responsible for heat, water/sewer, and trash use, 4 units so far and plan was to continue to 100% implementation as units turn. Separate electric with in-unit breakers...Value-add! 23-unit apartment property in growing western suburb of Lake Minnetonka. Charming side-by-side buildings with new pitched roofs, gutters, AC-Smith water heaters, and common area lights. New boilers in 2018, hot water baseboards individually controlled via in-unit thermostats. We just began rolling out RUBS, where tenants are responsible for heat, water/sewer, and trash use, 4 units so far and plan was to continue to 100% implementation as units turn. Separate electric with in-unit breakers paid directly by tenants.

2009 Commerce has 12 units and was built in 1963. 2017 Commerce has 11 units and was built in 1970. Eight studios with current average rent $818 (proforma $995), 15 one bedroom units with current average rent $905 (proforma $1,125). Many long-term residents. 11 units have been updated. Significant upside remaining; current ownership must sell as part of a 1031. Price and surety of close important. Neighboring properties provide potential for future development. Demand vs supply and demographics very strong. Nearby Mound Westonka ranks #12 in MN. Main intersection of Commerce and Shoreline Drive including Jubilee (grocery), Walgreens, Carbone's Pizzeria Bar and Grille, Anytime Fitness, True Value Hardware, expanding park and plaza with connecting Dakota Rail Trail, public parking ramp and transit center, Ice Arena... and more, less than 0.5 miles away. Great opportunity!
  1. Listed by Lakes Sotheby's International Realty

Property Details for 2009 Commerce Boulevard

Subdivision Name
Mound Shores
Zoning Jurisdiction
Residential-Multi-Family
LISTING UPDATED: 11/07/2024 11:24 AM

Property Details for 2009 Commerce Boulevard

StatusActive
MLS #6627694
Days on Compass423
Taxes$28,383 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeApartment
MLS TypeCommercial Sale / Apartment
Year Built1963
Lot Size0.57 AC / 24,829 SF
CountyHennepin County

Location

Listing Courtesy of Lakes Sotheby's International Realty
Add your commute

Building Information for 2009 Commerce Boulevard

Stories-Residences23Year Built1963Lot Size0.57 AC / 24,829 SF

Payment Calculator

$15,460 per month

30 year fixed, 6.28% Interest

Principal and Interest

$13,095

Property Taxes

$2,365

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2009 Commerce Boulevard

Summary
Location and General Information
  • City Name: Mound
  • County Or Parish: Hennepin
  • County: Hennepin-MN
  • Directions: West along Shoreline Drive. North on Commerce Blvd. Buildings on West side (left as heading North) of Commerce Blvd less than a half mile from the main intersection of Commerce Blvd and Shoreline Drive.
  • Latitude: 44.942583
  • Longitude: -93.666402
  • Map Coordinate: 116-E1
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Mound
  • City and Location Text: Mound(MN)
  • Postal Code: 55364
  • State Or Province: MN
  • Public Survey Township: 117
  • Topography: Gently Rolling,Level
Taxes and HOA Information
  • Additional Parcels Description: 1411724140038
  • Additional Parcels: Yes
  • Parcel Number: 1411724140037
  • Tax Annual Amount: $28,383.00
  • Tax Legal Description: 2009: MOUND SHORES S 90 FT OF N 17 8 FT OF LOTS 113 114 AND 115 SUBJECT TO ROAD 2017: MOUND SHORES THAT PART OF LOTS 113 114 AND 115 LYING S OF N 178 FT THEREOF SUBJECT TO ROAD
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2024
  • Tax With Assessments: 28383.0000
School Information
  • High School District: 277 - Westonka
  • School District Number: 277
  • School District Phone: 952-491-8001
Property
Lot Information
  • Current Use: Commercial
  • Lot Features: Public Transit (w/in 6 blks), Infill Lot, Tree Coverage - Light, Underground Utilities
  • Lot Size Area: 0.57
  • Lot Size Dimensions: 172x143
  • Lot Size Units: Acres
  • Possible Use: Investment
  • Property Sub Type: Apartment
  • Property Type: Commercial Sale
  • Building Area Total: 16324.0
Property and Assessments
  • Age Of Property: 61
Utilities
  • Sewer: City Sewer/Connected
  • Utilities: Electric Separate, Heating Common, Hot Water Common
  • Water Source: City Water/Connected
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Association Amenities: Coin-op Laundry Leased, Patio
  • Foundation Area: 8000.0
  • Fuel: Natural Gas
  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road
  • Roof: Age 8 Years or Less, Asphalt, Pitched
  • Patio Porch Type: Patio
Interior Features
  • Appliances: Air-To-Air Exchanger, Exhaust Fan, Freezer, Gas Water Heater, Range, Refrigerator, Water Softener Owned
  • Basement Type: Block, Crawl Space, Drainage System, Owner Access, Sump Pump, Unfinished
  • Amenities Unit: Cable,Ceiling Fan(s),Kitchen Center Island,Natural Woodwork,Patio,Security Lights
  • Cooling: Window Unit(s)
  • Heating: Baseboard, Boiler, Hot Water, Radiant, Zoned
  • Levels: Two
  • Number of Refrigerator: One Per Unit
  • Shared Rooms: Other
  • Basement YN: Yes
Multi Family
Unit 1
  • Unit Bath 3Qtr: 0
  • Unit Bath Full: 1
  • Unit Bath Half: 0
  • Unit Bath Qtr: 0
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
Unit 2
  • Unit Type Baths Total: 0

Property History for 2009 Commerce Boulevard

DateEvent & SourcePriceAppreciation
Nov 6, 2024

Listed (Active)

NorthStar #6627694

$2,650,000—
Aug 12, 2021

Sold (Public Record)

Public Record #1470454247

$2,100,000—
DateEvent & SourcePrice
11/06/2024

Listed (Active)

NorthStar #6627694

$2,650,000
08/12/2021

Sold (Public Record)

Public Record #1470454247

$2,100,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2009 Commerce Boulevard

Taxable ValueLand$144,000Additions$990,000Total$1,134,000
Tax Record2025$15,248 ($1,271 / month)
Home Facts
Lot Size13,068 SqFtStyleMulti-Family Res (5+ Units)Year Built1963Year Renovated1990CountyHENNEPINAPN14-117-24-14-0037

Schools near 2009 Commerce Boulevard

This home is within Westonka Public School District.
Rating
School
Type
Grades
Distance
Hilltop Primary School
Public - K to 4
Grandview Middle School
Public - 5 to 7
Mound-Westonka High School
Public - 8 to 12
Transition Plus
Public - 12
Rating
School
Distance
Hilltop Primary School
PublicK to 4

Grandview Middle School
Public5 to 7

Mound-Westonka High School
Public8 to 12

Transition Plus
Public12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 2009 Commerce Boulevard, Mound, MN 55364

2009 Commerce Boulevard is for sale in Mound, MN 55364. This property was listed for sale on November 6, 2024 by Lakes Sotheby's International Realty, it's currently listed at $2,650,000. It has been on the market for a total of 423 days and was last sold on August 12, 2021. This listing's school district is Westonka Public School District. Nearby schools include Hilltop Primary School, Grandview Middle School and Mound-Westonka High School. 2009 Commerce Boulevard is a 0-bed, 0-bath, 16,324 sqft built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lakes Sotheby's International Realty

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 01/04/2026 07:53 AM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.