For Sale: Milaca MLS# 6794123
Active
NEW!
$225,000
Commercial: Apartments/Retail
Built 1909
0.04 acres
Milaca schools
MLS# 6794123
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Property Description
Downtown Milaca Gem – Live, Work & Invest All in One!
Welcome to 115 1st Street W, a rare opportunity in the very heart of Milaca’s thriving downtown. This 3, 200 sq. ft. mixed-use property combines prime visibility with built-in income — the perfect setup for entrepreneurs and investors alike. The Commercial Space: The main level is wide open and ready for your vision. Flooded with natural light from two large street-facing windows, it’s the perfect blank canvas for your storefront, office, boutique, or studio. Maximum exposure, endless potential. The Residences: A spacious 3-bedroom, 1-bath apartment upstairs, perfect for steady rental income or even owner occupancy. A convenient efficiency apartment on the lower level, also income-producing. Both units are currently occupied with month-to-month tenants, giving you instant cash flow and the flexibility to adjust as you wish. Key Highlights: New A/C unit installed in 2024, vibrant downtown location with excellent foot traffic, live where you work, or let your tenants cover your mortgage and multiple income streams make this property one smart investment!
This is more than just real estate — it’s a built-in business plan waiting for the right buyer. With the commercial space ready for your vision and tenants already in place, opportunities like this don’t come around often. Don’t miss your chance to own a piece of downtown Milaca.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$225,000
Property Type:
Commercial
City:
Milaca
Garage Spaces:
0
County:
Mille Lacs
Year Built:
1909
State:
MN
Property Style:
Apartments/Retail
Zip Code:
56353
Subdivision Name:
First Add To Milaca
Interior
Ranges:
Two
Refrigerators:
Two
Appliances Included:
- Cooktop
- Dryer
- Range
- Refrigerator
- Washer
Basement Details:
- Concrete
- Full
- Unfinished
Exterior
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
1,608 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
- Open
- Unassigned
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Pitched
- Rubber
Lot & Land
Acres:
0.04
Geolocation:
45.754875, -93.651813
Inclusions:
Building, Leases
Lot Dimensions:
25 x 77 x 20 x 6 x 4 x 10 x 68
Zoning:
Business/Commercial
Schools
School District:
912
District Phone:
320-982-7210
Expenses
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$1,597
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$1,612
Income
Annual Gross Income:
$23,759
Units
Total Units:
3
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Century 21 Moline Realty Inc.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.