Mixed-Use Building with
New
For Sale
$325,000
518 Central Avenue, Lester Prairie, MN 55354
Commercial Sale, Lester Prairie, MN
Property SizeContact for details
Lot Size0.14 Acres
Days on Market5
Property Features for 518 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Basement, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bathroom 5
Parking features
On Street
Exterior features
Brick/Stone, Stucco, Vinyl
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
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: Sep 13
Last Checked: Sep 15 at 2:06AM
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.
Investment Insights
Based on property information with market context.
Located at 518 Central Avenue in Lester Prairie, this mixed-use property combines four apartments with a main-floor commercial area. The commercial space has its own street-facing entrance without steps, and the building includes a ramp-accessible approach. Forced-air heating serves the property, while existing appliances include ranges, refrigerators, washers, and dryers.
A contract permits tenants to park beside the building, with off-street parking also available. The 0.137-acre property was built in 1900 and has a flat rubber roof. Exterior materials include brick or stone, stucco, and vinyl.
A contract permits tenants to park beside the building, with off-street parking also available. The 0.137-acre property was built in 1900 and has a flat rubber roof. Exterior materials include brick or stone, stucco, and vinyl.
Key Highlights
- Four apartments plus main‑floor commercial space
- Step‑free street entrance with accessible ramp approach
- Tenant parking permitted beside the building under contract
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level commercial space offers a step-free street entrance with ramp access.
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 $325,000.
What are key features of this property?
This property features: Four apartments plus main‑floor commercial space; Step‑free street entrance with accessible ramp approach; Tenant parking permitted beside the building under contract
