Building Details

Year Built 1996

Year Renovated 2018

Buildings 1

Units 16

Listing Agency: Sonmar Management

Listed By: Barry Maring · License #40774786

Source: Crexi

Added: Aug 12 Changed: Aug 18 Last Checked: Aug 22 at 6:47AM

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Investment Insights

Based on property information with market context.

Built in 1996, this two-story apartment property contains 16 units and 12,868 net rentable square feet. The unit mix includes 4 one-bedroom, 8 two-bedroom, and 4 three-bedroom apartments, providing a range of residential configurations within one community. On-site features include laundry facilities, a management office, and off-street parking.

The property is located in Red Lake Falls, within reach of regional employers in Thief River Falls and Crookston. Historical occupancy has trailed under passive management, while the pro forma cap rate is 8.00%.

Key Highlights

• 16‑unit apartment property built in 1996
• 12,868 net rentable square feet across a two‑story building
• Unit mix: 4 one‑bedroom, 8 two‑bedroom, and 4 three‑bedroom apartments

Property Analytics

Property Profile

Current Use

Clearwater Apartments Apartment Building

Suggested Use

Top Pick Building Supply Parking Lot & Garage HVAC Service Electrical Service Plumbing Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

157

Businesses Nearby

Explore this area Business Placement

Demographics for 56750, MN

2,392

Population

1,082

Households

2.2

Avg Household Size

44

Median Age

18%

College-Educated

95%

High-School Grad

235.6 sq mi

ZIP Area

10

Density / Sq Mi

$74,688

Median Household Income

$48,460

Median Earnings

$580

Median Rent

$162,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-story apartment community with laundry, a management office, and off-street parking.

Where is this apartment building located?

The property is located at 110 MAIN AVE S Red Lake Falls, MN.

What is the asking price?

The asking price for this property is $1,099,100.

What are key features of this property?

This property features: 16‑unit apartment property built in 1996; 12,868 net rentable square feet across a two‑story building; Unit mix: 4 one‑bedroom, 8 two‑bedroom, and 4 three‑bedroom apartments