Mixed-Use Building with Commercial
For Sale
$304,900
518 Central Avenue, Lester Prairie, MN 55354
Commercial Sale, Lester Prairie, MN
Property SizeContact for details
Lot Size0.14 Acres
Days on Market50
Property Features for 518 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning description
Business/Commercial
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Basement, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 7, Bedroom 4, Bedroom 3, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
On Street
Accessibility
Accessible Approach with Ramp
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
Lester Prairie
High school district
Lester Prairie
Directions
Located 50 minutes West of the Metro, just South of Highway 7, located across the street from the central Square Park off Central Ave in Lester Prairie.
Standard status
Active
APN
170501370
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Mixed-Use Components
residential, commercial
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2872
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Roof type
Rubber, Flat
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(651) 272-4688
Listed By:
Nick Jenkins
(952) 226-7700
Added: Sep 11
Changed: Oct 24
Last Checked: Oct 30 at 10:06AM
MLS# 7142810
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use property combines four rented apartments with a main-floor commercial area. The commercial space has its own street entrance and a ramped, step-free approach, and is available for lease or use by an owner-operated business. The building dates to 1900 and occupies a 0.137-acre lot.
Key Highlights
- Four apartments are rented
- Main‑floor commercial space available for lease or owner occupancy
- Street entrance with a ramped, step‑free approach
Property Analytics
Who owns this building?
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 55354, MN
2,868
Population
1,151
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
93%
High-School Grad
32.4 sq mi
ZIP Area
89
Density / Sq Mi
$94,950
Median Household Income
$55,238
Median Earnings
$761
Median Rent
$243,600
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 - Four apartments are rented, and the ground-floor commercial area is available for lease or owner occupancy.
Where is this mixed-use property located?
The property is located at 518 Central Avenue Lester Prairie, MN.
What is the asking price?
The asking price for this property is $304,900.
What are key features of this property?
This property features: Four apartments are rented; Main‑floor commercial space available for lease or owner occupancy; Street entrance with a ramped, step‑free approach
