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451 Winden Way

Updated Mar 11, 2026

Michel Commercial Facilitates $13.975M Sale Of 99-Unit GreaterMN Portfolio In Minnesota
SOLDMultiFamily

Michel Commercial Facilitates $13.975M Sale Of 99-Unit GreaterMN Portfolio In Minnesota

451 Winden Way & 800 Main Street

$13,975,000

Units

99

Asset Type

MultiFamily

Closing

Mar 10, 2026

About this deal

AI

The transaction involved the sale of a multifamily asset comprising two developments: the 42-unit Avon Estates located at 451 Winden Way in Avon, Minnesota, and the 57-unit Mainstreeter Apartments at 800 Main Street in Sauk Centre, Minnesota. The overall sale price was $13,975,000, amounting to an average price per unit of $141,162 across the 99 units in the GreaterMN Portfolio.

Summary of transaction details:

Michel Commercial Real Estate successfully facilitated the closing of this transaction, representing the interests of the sellers in this deal involving newer multifamily developments in Minnesota. The combined asset reflects the firm’s continued involvement in prominent market transactions.

On the Map

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$13,975,000

MultiFamily

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Players

Steve Michel

Michel Commercial

Broker

$99M

vol

7 deals

Broker

Avon MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $141.2K per unit across 99 units on a published $14M (2026).

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Browse Avon multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.14%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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