6-Unit Apartment
For Sale
$369,000
1401 Norwood Street, Brainerd, MN 56401
Business Opportunity, Brainerd, MN
Property Size3,180 SF
Lot Size0.17 Acres
Price / SF$116.04
Days on Market186
Property Features for 1401 Norwood Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 5, Bathroom 3, Bathroom 6, Bathroom 1, Bathroom 4, Bathroom 2
High school district
BRAINERD PUBLIC SCHOOL DISTRICT
Directions
From Hwy 210 in SE Brainerd turn Right on SE 13th Street to Left on Norwood Steet to #1401.
Standard status
Active
APN
41300654 - 41300653
Size
3,180 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3766
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1938
Floors in Building
3
Flooring type
Carpet, Linoleum
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
Your Home Sold Guaranteed Realty Exclusive
Listed By:
James Flesch
(218) 961-1200
Added: Apr 28
Changed: Oct 22
Last Checked: Oct 30 at 6:06AM
MLS# 11736145
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,180-square-foot apartment property contains six units: three two-bedroom apartments, two one-bedroom apartments, and one efficiency. The building dates to 1938 and features stucco construction, asphalt roofing, linoleum and carpet flooring, and natural-gas forced-air heat. Public water serves the property.
All units are currently leased on a month-to-month basis. The property also includes an additional 0.17-acre lot, providing separate land within the offering. Located in Brainerd, the asset is part of the Brainerd Lakes Area and includes six bathrooms. The current owner handles lawn care and snow removal, with those services available for future contracting by a new owner.
All units are currently leased on a month-to-month basis. The property also includes an additional 0.17-acre lot, providing separate land within the offering. Located in Brainerd, the asset is part of the Brainerd Lakes Area and includes six bathrooms. The current owner handles lawn care and snow removal, with those services available for future contracting by a new owner.
Key Highlights
- Six‑unit configuration with three two‑bedroom, two one‑bedroom, and one efficiency apartment
- 3,180 square feet of building area on a 0.17‑acre property
- All units are currently month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,920
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,400
$518.4K
Cap Rate 7%
$370,286
$370.3K
Cap Rate 9%
$288,000
$288.0K
Market Conditions
NOI Build-Up for 3,180 SF
Gross rent
$49.6K $15.60/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$47.1K $14.82/SF
− OpEx
−$21.2K −$6.67/SF
NOI
$25.9K $8.15/SF
Area
Crow Wing County, MN
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,400
Cap Rate 7%
$370,286
Cap Rate 9%
$288,000
Alternative Uses
Best Use
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.1K
$590.7K – $787.6K
NOI $47,257 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
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Business Placement
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units with a varied floor-plan mix and month-to-month tenancy across the property.
Where is this apartment building located?
The property is located at 1401 Norwood Street Brainerd, MN.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Six‑unit configuration with three two‑bedroom, two one‑bedroom, and one efficiency apartment; 3,180 square feet of building area on a 0.17‑acre property; All units are currently month to month
