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Property profile & analytics
OFF-MARKET
Commercial real estate

515 Shr Dr Worthington, MN 56187-1438

1,820 SF Built 1974
Entity Owned Absentee Owner Free & Clear
Property ID
US46-2335116
Property summary
AI-generated overview

This exceptional commercial property, situated at 515 S Shore Drive in Worthington, Minnesota, presents a unique investment opportunity. Boasting 1,820 square feet on a 0.14-acre lot, this two-unit building is ideally located in the heart of downtown Worthington, directly across from the picturesque Lake Okabena. The property underwent a complete exterior renovation in July 2024, featuring brand new, low-maintenance decking, a durable steel roof, and attractive hardboard siding. This ensures minimal upkeep and long-term value. The single-level interior layout offers versatile space, perfectly suited for a variety of commercial uses. Imagine establishing an office space, a charming boutique, a stylish hair salon, or any other business that would thrive in this high-traffic area. The convenient location provides easy access to Lake Okabena, a significant draw for both residents and visitors, further enhancing the property's appeal and potential for success. This is a rare chance to acquire a meticulously maintained, well-positioned commercial property in a vibrant and desirable location. The asking price is $357,900. Don't miss this opportunity to own a piece of Worthington's thriving downtown.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1974
Total area 1,820 SF
APN 31-0683-000
UPID US46-2335116
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Lake Shore Clips Hair Salon Nail Salon
  • Love INC of Worthington Church
  • Deuel Dental Laboratory Dental Office
  • Ehlers Park Park
  • Health Insurance Services Inc Insurance Agency
Value estimations
Realmo proprietary · 4 methods
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
APELBELLE LLC
APELBELLE LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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