208 Main Ave Park Rapids, MN 56470
- Retail space
- 14,250 SF
Current Use by Public Records
- Retail space
Property Details for 208 Main Ave
- Year built
- 1950
- Property size
- 14,250 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
Description
This exceptional investment opportunity presents a two-story, 14,250-square-foot retail storefront located at 208 Main Ave S in Park Rapids, Minnesota, 56470. The property, built in 1950 and extensively renovated in 2020, boasts six individual rental units situated above the main retail space. Currently operating as a Ben Franklin store, this multi-tenant building offers a strong, established presence in the Park Rapids area for over 70 years. The asking price is $549,900, translating to $38.59 per square foot. The property sits on a 6,970-square-foot lot and is zoned for commercial and multi-family use, providing flexibility for future development. The building features two retail sales floors and six rental units, offering diverse income streams. Month-to-month lease options are available for the tenants. The business and inventory are available for separate purchase, providing buyers with options to suit their investment strategy. This is a stabilized investment opportunity with a proven track record and significant potential for future growth. The property is owned by an LLC.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Park Rapids
- County
- Hubbard
- State
- Minnesota
- Longitude
- -95.0595947
- Latitude
- 46.9206154
