Updated Residential Income
3296x Laplant Road Grand Rapids, MN 55744
3296x Laplant Road, Grand Rapids, MN, 55744
$550,000
For Sale
$550,000
Two updated rental units on 5 acres south of Grand Rapids, with recent HVAC, electrical, siding, flooring, paint, and roof.
Property Size4,644 SF
Lot Size5.00 Acres
Price / SF$118.43
Days on Market469
Property Features for 3296x Laplant Road
General Information
- Standard status
- Active
- Size
- 4,644 SF
- Lot size
- 5.00 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing agency
Keller Williams Classic Realty
(763) 458-1900
Listed by
Brian Johnson
(763) 458-1900
Source
Juverealestate
Added: Apr 10, 2025 Updated: Jul 22 at 8:31AM Checked: Jul 22 at 8:31AM
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 Keller Williams Classic Realty
Investment Insights
Based on property information with market context.
This updated residential income duplex includes two rental units and a separate unit intended for business use. Recent improvements include HVAC, electrical, siding, flooring, paint, and a newer roof.
The property is located on 5 acres just south of Grand Rapids along Hwy 169, offering visibility from the highway and ample parking for residents and customers.
The seller indicates the business unit may support a long-term lease arrangement, subject to terms and approval.
The property is located on 5 acres just south of Grand Rapids along Hwy 169, offering visibility from the highway and ample parking for residents and customers.
The seller indicates the business unit may support a long-term lease arrangement, subject to terms and approval.
Key Highlights
- Two updated residential rental units plus a separate unit for a business on 5 acres
- Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof
- Year built: 1963
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.8k | $7.92 |
| − Vacancy | −$6.1k | −$1.32 |
| EGI | $30.6k | $6.60 |
| − OpEx | −$9.2k | −$1.98 |
| NOI | $21.4k | $4.62 |
4,644 SF · lease $7.92/SF/yr · vacancy 16.72% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$306.3K
$268.0K – $357.4K
NOI $21,442 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$263.4K
$230.5K – $307.3K
NOI $18,437 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$447.7K
$391.8K – $522.3K
NOI $31,340 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two updated rental units on 5 acres south of Grand Rapids, with recent HVAC, electrical, siding, flooring, paint, and roof.
Where is this duplex located?
The property is located at 3296x Laplant Road Grand Rapids, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two updated residential rental units plus a separate unit for a business on 5 acres; Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof; Year built: 1963
