500 1st St E

500 1st St E , Park Rapids, Minnesota, 56470 | 6,900 sq.f | $ 365,000

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About This Restaurant

Investment Highlights

Sits near widen Fishhook River's edge near dam. Ample Co-op parking Liquor Lic avail.

Executive Summary

Prime commercial with live-in quarters. CR 34 Location with high traffic counts, water frontage and beautiful views of the Fish Hook River! Over 6,000 total square feet. 4,900 sq ft main level with commercial kitchen, bar and two large dining areas and BAR. Also has a 2 bedroom apartment above. Plenty of sq footage with potential for bar, restaurant, retail and/or office space. Additional parking available on adjoining lot.

Property Details

  • Sale Type    Owner User
  • Sale Conditions    Lease Option Lease Option Deferred Maintenance High Vacancy Property Redevelopment Project Lease Option
  • Property Type    Retail
  • Property Subtype    Restaurant Restaurant Flex Light Manufacturing Restaurant
  • Building Size    6,900
  • Building Class    B
  • Year Built    1950
  • Price    365,000
  • Price Per SF    53
  • Tenancy    Single
  • Building Height    3 Stories
  • Building FAR    0.40
  • Land Acres    0.40 AC
  • Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • 24 Hour Access
  • Conferencing Facility
  • Corner Lot
  • Restaurant
  • Signage
  • Waterfront
  • Air Conditioning

Property Taxes

Parcel Number 32.44.03200 32.44.03400 Improvements Assessment $77,400 (2022)
Land Assessment $300,000 (2022) Total Assessment $11,072 (1.60/SF)
Date Created: 2024-07-16 04:16:20 Last Updated: 2024-07-16 04:16:20
Address: 500 1st St E , Park Rapids, Minnesota, 56470