Mixed-Use Property with Rental
New
For Sale
$550,000
3296x Laplant Road, Grand Rapids, MN 55744
Two residential rentals accompany a dedicated business unit, with recent improvements to building systems and finishes.
Property Size4,644 SF
Lot Size5.00 Acres
Price / SF$118.43
Days on Market7
Property Features for 3296x Laplant Road
General Information
Standard status
Active
Size
4,644 SF
Lot size
5.00 Acres
Property subtype
Commercial
Zoning
Business/Commercial, Residential-Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$248
Building Details
Building Size
4,644 SF
Year Built
1963
Units
3
Listing Agency:
Keller Williams Classic Realty
Listed By:
Brian Johnson
(763) 458-1900
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 4:13AM
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
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Investment Insights
Based on property information with market context.
This 4,644-square-foot mixed-use property occupies 5 acres and includes two residential rental units plus a separate business unit. Improvements include HVAC, electrical work, siding, flooring, paint, and a newer roof. The building dates to 1963.
The property is south of Grand Rapids along Hwy 169. Zoning includes Business/Commercial and Residential-Multi-Family classifications.
The property is south of Grand Rapids along Hwy 169. Zoning includes Business/Commercial and Residential-Multi-Family classifications.
Key Highlights
- 5 acres with 4,644 square feet of building area
- Two residential rental units and a separate business unit
- Updates include HVAC, electrical, siding, flooring, paint, and a newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,381
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,620
$427.6K
Cap Rate 7%
$305,443
$305.4K
Cap Rate 9%
$237,567
$237.6K
Market Conditions
NOI Build-Up for 4,644 SF
Gross rent
$41.5K $8.94/SF
− Vacancy
−$7.3K −$1.57/SF
EGI
$34.2K $7.37/SF
− OpEx
−$12.8K −$2.76/SF
NOI
$21.4K $4.60/SF
Area
Itasca County, MN
Vacancy
17.60%
Lease Rate
$8.94 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,620
Cap Rate 7%
$305,443
Cap Rate 9%
$237,567
Alternative Uses
Best Use
Mixed Use
$305.4K
$267.3K – $356.4K
NOI $21,381 @ 7.0% cap · market cap 3.89%
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 authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential rentals accompany a dedicated business unit, with recent improvements to building systems and finishes.
Where is this mixed-use property 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: 5 acres with 4,644 square feet of building area; Two residential rental units and a separate business unit; Updates include HVAC, electrical, siding, flooring, paint, and a newer roof
