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    418 Jefferson St Wadena, MN 56482

    Sponsored
    For Sale
    $1,816,000

    Historic Multi-Use Building, 31,040 sq ft

    Property size:
    31,040 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional multi-use commercial building, formerly Wesley Hospital, presents a rare investment opportunity in Wadena, MN. Boasting a substantial 31,040 square feet of space on a 2.06-acre lot, this property offers unparalleled versatility. Its expansive layout and numerous rooms allow for a wide range of development possibilities, from multi-family housing to office spaces, or a creative mixed-use project. The building features convenient on-site parking with approximately 63 spaces, including 3 handicap-accessible spots. Internal features include laundry facilities, perfect for residential or commercial tenants, and attached garages providing secure parking or extra storage. Accessibility is ensured with an elevator servicing all floors. This landmark building is ready for a complete transformation, offering an unmatched potential for investors, developers, or those seeking to establish a unique business presence. The property's size and location in Wadena provide a strong foundation for a successful venture. Don't miss this chance to acquire a piece of Wadena's history and shape its future. The possibilities are truly endless.

    Property Features for 418 Jefferson St

    General Information

    Property type
    Residential income properties
    Square Feet
    31,040 SF
    Lot Size
    89,734 SF

    Building Details

    Year Built
    1923
    Property Profile Location Intelligence

    Current Use by Public Records

    Adult & Pediatric Urology Pediatric Urologist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wadena
    County
    Wadena
    State
    Minnesota
    Longitude
    -95.13286
    Latitude
    46.44531

    Nearby Comparable

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      Established Wadena Restaurant

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    Nearby Similar for Sale

    • $365,000
      5,241 SF

      Historic Wadena Mixed-Use Building

      Turnkey Bakery/Restaurant w/ Rentals
      205 Jefferson St, Wadena, MN 56482
      View Details
    • $299,500
      3,469 SF

      Established Wadena Restaurant

      Turnkey Restaurant, High Cash Flow
      201 Jefferson St, Wadena, MN 56482
      View Details

    FAQs

    What type of property is this?
    Residential income property - Historic Multi-Use Building, 31,040 sq ft
    Where is this residential income property located?
    The property is located at 418 Jefferson St Wadena, MN.
    What is the asking price?
    The asking price for this property is $1,816,000.
    (218) 632-5036
    Request Owner's contact information
    418 Jefferson St Wadena, MN 56482
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    418 Jefferson St Wadena, MN 56482
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