44
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$499,900
Est. payment /mo
1,873 Sqft Lot
New
105 1st ST W Milaca, MN 56353
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision First Add To Milaca
MLS Listing ID 7147300
Year Built 1900
Annual Tax Amount $5,658
Tax Year 2026
Contingent None
Lot Size 1,873 Sqft
Lot Dimensions getting
Property Description
Excellent mixed-use investment opportunity in a high-visibility corner location in Milaca! This versatile property combines an established residential income stream with flexible commercial space, offering investors multiple ways to maximize the property's potential.
The residential portion features 6 apartments—four 1-bedroom units and two efficiency units—with all six currently leased, providing immediate rental income and an established tenant base. The main-level commercial space has most recently operated as a restaurant and offers excellent visibility and exposure from its prominent corner location. The space provides flexibility for an owner-user or future tenant and could potentially be converted to office, retail, service, or other commercial uses, subject to zoning and applicable approvals.
The combination of fully leased residential units and adaptable commercial space creates an attractive opportunity for investors seeking diversified income within a single property. An owner-user could also explore utilizing the commercial portion while retaining the residential units as an income-producing component.
With its prominent location, existing rental income, and flexible commercial footprint, this property offers a variety of possibilities for an investor looking to acquire a mixed-use asset with potential for continued income and future value enhancement. Bring your vision and take advantage of the possibilities this property has to offer!
The residential portion features 6 apartments—four 1-bedroom units and two efficiency units—with all six currently leased, providing immediate rental income and an established tenant base. The main-level commercial space has most recently operated as a restaurant and offers excellent visibility and exposure from its prominent corner location. The space provides flexibility for an owner-user or future tenant and could potentially be converted to office, retail, service, or other commercial uses, subject to zoning and applicable approvals.
The combination of fully leased residential units and adaptable commercial space creates an attractive opportunity for investors seeking diversified income within a single property. An owner-user could also explore utilizing the commercial portion while retaining the residential units as an income-producing component.
With its prominent location, existing rental income, and flexible commercial footprint, this property offers a variety of possibilities for an investor looking to acquire a mixed-use asset with potential for continued income and future value enhancement. Bring your vision and take advantage of the possibilities this property has to offer!
Location
State MN
County Mille Lacs
Zoning Business/Commercial,Residential-Multi-Family
Interior
Heating Baseboard, Forced Air
Inclusions Building
Fireplace No
Exterior
Parking Features On-Street Parking Only
Utilities Available Electric Separate
Present Use Residential,Restaurant
Building
Story Three Or More
Foundation 1914
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
New Construction false
Schools
School District Milaca
Others
Virtual Tour https://wellcomemat.com/embed/54sn880f99781mpgs?mls=1
Listed by Douglas Seanger • Premier Real Estate Services
NEARBY SCHOOL & BUSINESS
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