18 NE Schmitz Street, Adams, MN 55909 (MLS# 7006896)

18 NE Schmitz Street, Adams, MN 55909

$449,900

Property Type: Commercial Bedrooms: 14 Baths: 8 Square Footage: 6,411 Lot Size (sq. ft.): 30,492 Status: Active

Current Price: $449,900 List Date: 1/11/2026 Last Modified: 8/27/2026

Overview

Description

Well-maintained 8-unit apartment building located in Adams. The property features a balanced unit mix of six 2-bedroom units and two 1-bedroom units. The building is configured with two separate coin-operated laundry rooms, one serving each section of the property. Electric utilities are separately metered, and electric heat is provided, allowing residents to manage their own utility usage. The property currently operates with on-site management, which is available to remain in place or may transition at the discretion of new ownership. Existing leases allow for 30-day notice to vacate following a change in ownership, offering operational flexibility.

Listing Details MLS# 7006896

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 8
Owner Occupied: No
Waterfront YN: No
Year Built: 1979
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 3072
For Sale or Lease: For Sale
Acres: 0.7
Lot Dimensions: 180x170
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Amenities Shared: Coin-op Laundry Owned Appliances: Range; Refrigerator CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Vinyl Foundation: Concrete Block Fuel: Natural Gas Heating: Baseboard Loan Terms: Cash; Contract for Deed; Conventional; VA On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Parking Characteristics: Gravel Lot Potential Use: Motel/Hotel; Office Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sewer: City Sewer - In Street Stories: Two Tenant Pays: Electricity; Heat Water: City Water - In Street

Contract Information

Contingency: None
ListPrice: 449900
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 18
Street Direction Prefix: NE
Street Name: Schmitz
Street Suffix: Street
Postal City: Adams
County: Mower
State: MN
Zip Code: 55909
Complex/Dev/Subdivision: Mays 1st Add

Assessments

Tax With Assessments: 6856

Building Information

Building Finished SqFt: 5900
Building SqFt: 6411

More Information

Income and Expenses

Annual Caretaker Expense: 2400
Annual Electric Expense: 500
Annual Fuel Expense: 500
Annual Gross Expenses: 9900
Annual Gross Income: 60300
Annual Maintenance Expense: 1025
Annual Net Income: 50400
Annual Trash Expense: 5000
Annual Water/Sewer Expense: 1500
Total Annual Expenses: 9900

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Leases

Unit 1

Unit Number: Yes
Monthly Rent: 775
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Leased?: Yes
Lease Expiration Date: 2026-08-31
No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 6
Full Baths: Yes
Lease Expiration Date: 2026-08-31
Leased?: Yes
Monthly Rent: 575
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-11-30
Leased?: Yes
Monthly Rent: 775
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-05-30
Leased?: Yes
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 4

Unit 5

Full Baths: Yes
Leased?: No
Monthly Rent: 775
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 5

Unit 6

Full Baths: Yes
Lease Expiration Date: 2027-01-31
Leased?: Yes
Monthly Rent: 800
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 6

Unit 7

Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Monthly Rent: 775
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 7

Unit 8

Full Baths: Yes
Lease Expiration Date: 2026-12-30
Leased?: Yes
Monthly Rent: 675
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 8

Unit Details

Total Units: 8

Listing Office: Compass

Last Updated: August - 27 - 2026

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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

18 NE Schmitz Street, Adams, MN 55909 (MLS# 7006896)