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Property profile & analytics

1605 1st S St Willmar, MN 56201-4234

  • Commercial real estate
  • 32.23 lot acres
OFF-MARKET
Value Estimation
Location Intelligence
Property ID
US46-0083017
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Metro by T-Mobile / Electronics Store / Telecommunications Service Provider
  • KKLN- 94.1 The Loon / Radio Broadcaster
  • Maurices / Women'S Clothing Store / Plus Size Clothing Store
  • Verizon / Telephone Company / Cell Phone Store
  • Little Crow Archers / Association Or Organization

Property Details for 1605 1st S St

Lot size
32.23 lot acres
Property type
Commercial real estate
APN
95-699-2020
APU
956992020

Description

This exceptional 342,983 square foot regional shopping mall in Willmar, Minnesota, presents a compelling investment opportunity. Located on a substantial 32.23-acre lot at 1605 1st St S, 56201, this multi-tenant property boasts a strong anchor tenant lineup including Harbor Freight, Kohl's, Jo-Ann Fabrics, Maurices, and Dunham's. Currently operating at 57.48% occupancy, the property offers significant value-add potential through leasing the remaining vacant space. The asking price is $6,617,000, representing a price per square foot of $19.29 and a compelling 10.00% capitalization rate with a current NOI of $661,698. Situated in a primary retail node between a Walmart Supercenter and a Target, Uptown Willmar is the only major shopping center within a 50-mile radius, attracting a significant customer base. Data indicates 90% of visitors return at least five times annually. The property features significant frontage on 1st Street S, a main retail thoroughfare with a high volume of daily traffic (18,304 vehicles). The land value alone is $4.71 per square foot, and there's potential for future development on the expansive lot. Furthermore, a potential $2 million grant may be available for capital improvements. Replaceable rents are estimated at $10.80 per square foot. This property offers a rare combination of established tenants, high traffic location, and significant upside potential.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Willmar
County
Kandiyohi
State
Minnesota
Longitude
-95.0398
Latitude
45.1057
CBSA code
48820
CBSA name
WILLMAR, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$187,046
$2,695,100
$2,511,800
$5,206,900
-
$2,695,100
$2,511,800
$5,206,900
More about this property
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