Six-Unit Apartment
For Sale
$369,000
1401 Norwood Street, Brainerd, MN 56401
COMMERCIAL - Brainerd, MN
Property Size3,180 SF
Lot Size0.17 Acres
Price / SF$116.04
Days on Market96
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 4, Bathroom 3, Bathroom 1, Bathroom 6, 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
Forced Air, Natural Gas
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
(218) 961-1200
Listed By:
James Flesch
(218) 961-1200
Added: Apr 28
Changed: Jul 31
Last Checked: Aug 1 at 12:06AM
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.
Investment Insights
Based on property information with market context.
This six-unit apartment building is offered as a well-maintained residential income property featuring a unit mix of three two-bedroom apartments, two one-bedroom units, and one efficiency unit. All units are currently month to month. The property includes an additional lot that could be developed for future use. The current owner provides lawn care and snow removal and may be available to contract those services for new owners.
Constructed in 1938, the building is finished with stucco and features a roof described as asphalt. Heating is provided by forced air systems with natural gas, and the property is served by public water. Interior finishes include carpet and linoleum.
The building contains 3,180 square feet and sits on a 0.17-acre lot. For showings, 48 hours’ notice is required for all appointments.
Constructed in 1938, the building is finished with stucco and features a roof described as asphalt. Heating is provided by forced air systems with natural gas, and the property is served by public water. Interior finishes include carpet and linoleum.
The building contains 3,180 square feet and sits on a 0.17-acre lot. For showings, 48 hours’ notice is required for all appointments.
Key Highlights
- Six‑unit apartment building with three two‑bedroom units, two one‑bedroom units, and one efficiency unit
- All units are currently month to month
- 3,180 SF building on 0.17 acres
Financial Insights For Apartment 5plus
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 | $49.6k | $15.60 |
| − Vacancy | −$2.5k | −$0.78 |
| EGI | $47.1k | $14.82 |
| − OpEx | −$21.2k | −$6.67 |
| NOI | $25.9k | $8.15 |
3,180 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six units with a mix of two-bedroom, one-bedroom, and efficiency apartments, all currently month to month.
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 apartment building with three two‑bedroom units, two one‑bedroom units, and one efficiency unit; All units are currently month to month; 3,180 SF building on 0.17 acres
