Mixed-Use Rental
For Sale
Contact for pricing
Pending
501 1st Street E, Park Rapids, MN 56470
Mixed-use property offering six furnished apartments and commercial/retail and office space with added garage storage.
Property SizeContact for details
Days on Market149
Property Features for 501 1st Street E
General Information
Standard status
Pending
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Multifamily Units
6
Listing Agency:
Coldwell Banker Clack & Dennis Real Estate
Listed By:
William Halonen · License #MN
Source:
Crexi
Added: Apr 11
Changed: Sep 5
Last Checked: Sep 2 at 9:19PM
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 Coldwell Banker Clack & Dennis Real Estate
Investment Insights
Based on property information with market context.
This mixed-use rental building includes six furnished apartments that are currently rented. Alongside the residential units, the property offers a combination of commercial/retail space and office space, with additional storage available in the garage. Several areas and rooms of the building have been updated and renovated within the past few years, and the boiler was recently replaced.
The property is accessed from Hwy. 71/34 in Park Rapids. Directions indicate taking Hwy. 34 east to the property on the left right after the river, and it is down the street from Heartland Park, near Fish Hook River.
The building’s current mix of furnished residential units plus commercial/retail and office space, along with substantial garage storage, provides an integrated footprint for an owner looking to manage multiple revenue streams within one property.
The property is accessed from Hwy. 71/34 in Park Rapids. Directions indicate taking Hwy. 34 east to the property on the left right after the river, and it is down the street from Heartland Park, near Fish Hook River.
The building’s current mix of furnished residential units plus commercial/retail and office space, along with substantial garage storage, provides an integrated footprint for an owner looking to manage multiple revenue streams within one property.
Key Highlights
- Mixed‑use property with six furnished apartments that are currently rented
- Includes commercial/retail space, office spaces, and plenty of garage storage
- Various areas of the building have been updated and renovated within the past few years
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 56470, MN
10,668
Population
7,478
Households
1.4
Avg Household Size
47
Median Age
30%
College-Educated
94%
High-School Grad
382.5 sq mi
ZIP Area
28
Density / Sq Mi
$68,351
Median Household Income
$37,044
Median Earnings
$929
Median Rent
$260,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use property offering six furnished apartments and commercial/retail and office space with added garage storage.
Where is this apartment building located?
The property is located at 501 1st Street E Park Rapids, MN.
What are key features of this property?
This property features: Mixed‑use property with six furnished apartments that are currently rented; Includes commercial/retail space, office spaces, and plenty of garage storage; Various areas of the building have been updated and renovated within the past few years
