Park Rapids Business Center | 104 Park Ave N
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Park Rapids Business Center 104 Park Ave N
7,500 SF 100% Leased Office Building Park Rapids, MN 56470 $1,429,000 ($191/SF) 4.75% Cap Rate
Investment Highlights
- Great curb appeal and upscale professional image. High quality cosmetic finishes. Well maintained. Fully ADA accessible.Great Visibility.
Executive Summary
Park Rapids' most prestigious location for the business professional. Located at the intersection of two major state highways. Excellent visibility with the highest traffic counts in the region. Seven climate zones with dual fuel heat pumps and four 93.5% efficient natural gas forced air furnances for year-round comfort and efficient low-cost heating and cooling. Fully ADA accessible. 100% leased and great rental history. Excellent maintenance history. This is a well performing investment quality business property suitable for long term income or an owner/operator to buy and occupy and collect rents from stable long term tenants. Very rare purpose-designed building for professional practicioners who need to present an appealing and professional image for their clients in the Heartland Lakes Region of North-Central Minnesota and downtown Park Rapids.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
7,500 SF
Building Class
B
Year Built
2010
Price
$1,429,000
Price Per SF
$191
Cap Rate
4.75%
NOI
$67,878
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,500 SF
Building FAR
0.47
Lot Size
0.37 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial zoning for highway business with off street parking.
Parking
26 Spaces (3.47 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Fireplace
- Wheelchair Accessible
- Central Heating
- Fully Carpeted
- Partitioned Offices
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- ICS Consulting
- -
-
99,999 SF
- -
-
Lorem Ipsum
- -
- Nature's Accents Home Interiors
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| ICS Consulting | - | 99,999 SF | - | Lorem Ipsum | - | |
| Nature's Accents Home Interiors | Retailer | 99,999 SF | - | Lorem Ipsum | - |
1 of 1
Walk Score ®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 32.41.00601 | Total Assessment | $604,100 (2023) |
| Land Assessment | $44,800 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $559,300 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
32.41.00601
Land Assessment
$44,800 (2023)
Improvements Assessment
$559,300 (2023)
Total Assessment
$604,100 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
1 of 43
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Park Rapids Business Center | 104 Park Ave N
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.