Search Results


$399,000
605 1st Street E
Park Rapids, MN 56470
MLS# 5673024
Status: Closed



605 1st Street E, Park Rapids, MN 56470
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Property Description
Park Rapids Investment Opportunity The Rustic Inn offers an abundance of opportunities. Whether you are looking for Short Term or Long Term Rentals, Commercial Lease Potential, or an Owner/Operated Business this properties for you. This property features 12 Units and a Café, giving you 13 sources of income. Just Minutes from downtown Park Rapids, a Tourism destination location were tourists come to enjoy Hiking, Biking, Fishing, Downtown Shops, Itasca State Park and many other area Attractions. Come enjoy what the Northwoods has to offer. Daily rentals of $69/night; $99/weekend in the winter. Daily rentals of $89-$99/night $119/weekend in the summer. Monthly rentals $750/month.

Details
Maps
None
Allow Auto Valuation: Yes
Allow Consumer Comment: Yes
MLSID: RMLS
Contract Information
Availability: Unavailable
Status: Closed
Off Market Date: 2021-01-26
Current Price: $350,000
Sales Close Date: 2021-01-29
Sales Close Price: 350000
Original List Price: 420000
Contingency: None
ListPrice: 399000
List Date: 2020-10-12
Owner is an Agent?: Yes
Auction?: No
Office/Member Info
Association: GLAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 14
Owner Occupied: No
Waterfront Present: No
Year Built: 1960
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 5268
For Sale or Lease: For Sale
Acres: 0.34
Lot Dimensions: 100x140
Assessment Pending: Yes
Location, Tax and Other Information
Legal Description: .34 AC PRC RIVERSIDE ADD W6 OF LOT 8 & ALL OF LOTS 9 & 10 BLK 1
Map Page: 999
Rental License?: No
School District Phone: 218-237-6500
Map Coordinate Source: King's Street Atlas
House Number: 605
Street Name: 1st
Street Suffix: Street
Street Direction Suffix: E
Postal City: Park Rapids
County: Hubbard
State: MN
Zip Code: 56470
Zip Plus 4: 2426
Property ID Number: 324400800
Complex/Dev/Subdivision: Riverside Add
Tax Year: 2020
Tax Amount: 8812
In Foreclosure?: No
Potential Short Sale?: No
Assessment Balance: 2150
Lender Owned?: No
Tax With Assessments: 8812
Directions & Remarks
Public Remarks: Park Rapids Investment Opportunity The Rustic Inn offers an abundance of opportunities. Whether you are looking for Short Term or Long Term Rentals, Commercial Lease Potential, or an Owner/Operated Business this properties for you. This property features 12 Units and a Café, giving you 13 sources of income. Just Minutes from downtown Park Rapids, a Tourism destination location were tourists come to enjoy Hiking, Biking, Fishing, Downtown Shops, Itasca State Park and many other area Attractions. Come enjoy what the Northwoods has to offer. Daily rentals of $69/night; $99/weekend in the winter. Daily rentals of $89-$99/night $119/weekend in the summer. Monthly rentals $750/month.
Directions: From 34/71 in Park Rapids, East on 34 to property on left.
Building Information
Building Finished SqFt: 5268
Building SqFt: 5268
Green Verification
Green Certification: No
Miscellaneous Information
FIPS Code: 27057
Homestead Desc: Other
Structure Information
Sale Includes: Building,Land,Fixture/Equipment
Unit 1
No. of 1 Bedroom Units: 12
Unit 2
No. of 2 Bedroom Units: 1
Unit Details
Total Units: 13
Property Features
Accessible: None
Construction Status: Previously Owned
Current Use: Hotel/Motel
Exterior: Log Siding
Financing Terms: Conventional
Fuel: Electric; Natural Gas
Heating: Space Heater
Loan Terms: Cash; Conventional
Lock Box Type: None
On Site Utilities: Electric Common; Heating Separate; Hot Water Common
Parking Characteristics: Paved Lot
Sewer: City Sewer/Connected
Tenant Expenses: None
Water: City Water/Connected

Listing Office: Wolff & Simon Real Estate

Last Updated: February - 01 - 2021

605 1st Street E, Park Rapids, MN 56470 - MLS# 5673024

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2020 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Sunday 28th of February 2021 01:39 AM

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