Renovated 10-Unit Apartment
For Sale
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505 PKWY AVE S, Lanesboro, MN 55949
10-unit apartment building in like-new condition, fully renovated and converted from a church.
Property Size7,210 SF
Days on Market194
Property Features for 505 PKWY AVE S
General Information
Standard status
Active
Size
7,210 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
10
Building Details
Year Built
1890
Units
1
Tenancy
Multi
Listing Agency:
LOAM Commercial Real Estate
Listed By:
Brandon Milde · License #503514077
Source:
Crexi
Added: Apr 15
Changed: Oct 20
Last Checked: Oct 24 at 4:53PM
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 LOAM Commercial Real Estate
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Investment Insights
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This renovated 10-unit apartment building was converted from its original church use and brought to like-new condition. The property’s major systems and finishes have been replaced throughout, creating a turnkey residential income asset with modernized interior components.
Three of the units are currently operating as short-term rentals as Airbnb accommodations, adding flexibility to the property’s income mix. The building is located in Lanesboro, Minnesota, a destination with strong seasonal tourism activity, particularly during the summer months, supported by outdoor recreation such as biking and walking.
The building’s current configuration includes a total of 10 residential units, combining standard apartment operations with an on-site short-term rental component.
Three of the units are currently operating as short-term rentals as Airbnb accommodations, adding flexibility to the property’s income mix. The building is located in Lanesboro, Minnesota, a destination with strong seasonal tourism activity, particularly during the summer months, supported by outdoor recreation such as biking and walking.
The building’s current configuration includes a total of 10 residential units, combining standard apartment operations with an on-site short-term rental component.
Key Highlights
- 10‑unit apartment building in Lanesboro, MN, fully renovated and converted from its original use as a church
- Year built 1890
- All major systems and finishes have been replaced for a like‑new condition throughout
Property Analytics
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Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 55949, MN
1,864
Population
998
Households
1.9
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
113.9 sq mi
ZIP Area
16
Density / Sq Mi
$80,357
Median Household Income
$41,437
Median Earnings
$579
Median Rent
$249,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 10-unit apartment building in like-new condition, fully renovated and converted from a church.
Where is this apartment building located?
The property is located at 505 PKWY AVE S Lanesboro, MN.
What are key features of this property?
This property features: 10‑unit apartment building in Lanesboro, MN, fully renovated and converted from its original use as a church; Year built 1890; All major systems and finishes have been replaced for a like‑new condition throughout
