Converted School Multifamily
For Sale
$2,600,000
117 3rd Street E, Park Rapids, MN 56470
Former high school adapted into residential units with updated systems, security equipment, and parking improvements.
Property Size101,291 SF
Days on Market63
Property Features for 117 3rd Street E
General Information
Standard status
Active
Size
101,291 SF
Property subtype
Multi-Family
Additional Details
Sprinkler System
Yes
Building Details
Building Size
101,291 SF
Year Built
1939
Units
40
Listing Agency:
NAI Sioux Falls
(605) 403-0333
Listed By:
Marcus Benson · License #21232
Source:
Commercialcafe
Added: Jun 29
Changed: Aug 30
Last Checked: Jul 26 at 6:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Sioux Falls
Investment Insights
Based on property information with market context.
This multifamily property occupies a former high school originally built in 1939 and converted to residential units approximately 20 years ago. Building upgrades include a new sprinkler system, security cameras, and electrical and plumbing work completed between 2004–2007. Approximately 75% of the roof has been replaced.
The property is positioned at the intersection of 3rd Street East and Washington Avenue South in downtown Park Rapids, with access to surrounding businesses, restaurants, and community amenities. Parking lot improvements have also been completed. The offering includes three parcels and provides an opportunity to develop additional residential units.
The property is positioned at the intersection of 3rd Street East and Washington Avenue South in downtown Park Rapids, with access to surrounding businesses, restaurants, and community amenities. Parking lot improvements have also been completed. The offering includes three parcels and provides an opportunity to develop additional residential units.
Key Highlights
- Former high school converted to residential units approximately 20 years ago
- Electrical and plumbing improvements completed between 2004–2007
- Approximately 75% roof replacement completed
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 56470, MN
10,668
Population
7,478
Households
1.4
Avg Household Size
47
Median Age
30%
College-Educated
94%
High-School Grad
382.5 sq mi
ZIP Area
28
Density / Sq Mi
$68,351
Median Household Income
$37,044
Median Earnings
$929
Median Rent
$260,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Former high school adapted into residential units with updated systems, security equipment, and parking improvements.
Where is this multifamily property located?
The property is located at 117 3rd Street E Park Rapids, MN.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Former high school converted to residential units approximately 20 years ago; Electrical and plumbing improvements completed between 2004–2007; Approximately 75% roof replacement completed
