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    2016 1St Ave Hibbing, MN 55746

    For Sale
    $149,900

    Live & Work in Hibbing's Heart!

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This unique mixed-use property at 2016 1st Ave, Hibbing, MN, presents a compelling investment opportunity. Priced at $149,900, this building offers a seamless blend of commercial and residential space, ideal for owner-occupancy or rental income generation. The property boasts a fully furnished, spacious two-bedroom apartment situated above a well-appointed office/retail area. The apartment features a rooftop deck offering stunning city views and is equipped with a mini-split heating and cooling system for optimal comfort. The office space is equally well-equipped, featuring several individual rooms and a welcoming reception area complete with built-in shelving and storage. Parking is abundant, with a two-car attached heated garage providing ample space for vehicles or storage, supplemented by off-street parking and a large city-owned parking lot directly behind the building. The building's location in downtown Hibbing provides immediate access to numerous restaurants and businesses, ensuring high visibility and foot traffic for the commercial space. The 0.08-acre lot offers a manageable footprint, while the mini-split systems in both the apartment and office ensure efficient climate control. This property is a rare find, combining the convenience of living above your business with the potential for substantial rental income. Don't miss this chance to own a piece of downtown Hibbing.

    Property Features for 2016 1St Ave

    General Information

    Property type
    Mixed-use properties
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1953
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Scott Mescher Optometrist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hibbing
    County
    St. Louis County
    State
    Minnesota
    Longitude
    -92.94167
    Latitude
    47.42672

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    FAQs

    What type of property is this?
    Mixed-use property - Live & Work in Hibbing's Heart!
    Where is this mixed-use property located?
    The property is located at 2016 1St Ave Hibbing, MN.
    What is the asking price?
    The asking price for this property is $149,900.
    (218) 262-0053
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    2016 1St Ave Hibbing, MN 55746
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    Hibbing, MN 55746
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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
    2016 1St Ave Hibbing, MN 55746
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