Building Details

Year Built 1956

Listing Agency: Z' Up North Realty

Listed By: Andrea Zupancich · License #MN 40149923 Show Phone

Source: Compass

Added: Jul 9, 2025 Changed: Sep 2 Last Checked: Aug 30 at 9:37PM

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Investment Insights

Based on property information with market context.

This remodeled office unit retains a former bank configuration with three private offices, a spacious lobby, teller-area cabinetry, storage, a safety deposit room, and a built-in safe. Additional features include one bathroom, a break room, a storage room, and a broom closet. The owner is willing to divide the space into smaller sections.

Building systems include central air and forced-air propane heat. The property was built in 1956 and has sheetrock and concrete block construction, a metal exterior, and a rubber rolled or hot-mop roof. The space is available for rent immediately and includes on-site parking and accessibility features.

Key Highlights

• Remodeled office unit available for rent immediately
• Three private offices with a large lobby and teller‑area cabinetry
• Former bank layout includes a safety deposit room and built‑in safe

Property Analytics

Property Profile

Current Use

U.S. Bank Branch Bank Zup's Food Market Grocery & Convenience Store Northern-Frontiers Thrift Discount Store U.S. Bank ATM Atm Lost Sock LLC (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply Real Estate Agency Dental Office Law Firm Hair Salon Electrical Service

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

Lease Details

NNN (Triple Net)

Lease Type

$2.47 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

103

Businesses Nearby

Explore this area Business Placement

Demographics for 55706, MN

1,738

Population

1,132

Households

1.5

Avg Household Size

54

Median Age

22%

College-Educated

93%

High-School Grad

135.2 sq mi

ZIP Area

13

Density / Sq Mi

$60,096

Median Household Income

$40,888

Median Earnings

$726

Median Rent

$107,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Former bank layout includes private offices, a customer lobby, storage areas, and a built-in safe.

Where is this office units located?

The property is located at 31 Central Boulevard Babbitt, MN.

What is the lease rate?

The lease rate is $2,400/Mo.

What are key features of this property?

This property features: Remodeled office unit available for rent immediately; Three private offices with a large lobby and teller‑area cabinetry; Former bank layout includes a safety deposit room and built‑in safe