105 1st Street W, Milaca, MN 56353 (MLS# 7147300)

105 1st Street W, Milaca, MN 56353

$499,900
Property Type: Commercial Square Footage: 5,850 Lot Size (sq. ft.): 1,742 Status: Active
Current Price: $499,900 List Date: 9/20/2026 Last Modified: 9/21/2026

Overview

Description

Excellent mixed-use investment opportunity in a high-visibility corner location in Milaca! This versatile property combines an established residential income stream with flexible commercial space, offering investors multiple ways to maximize the property’s potential. The residential portion features 6 apartments—four 1-bedroom units and two efficiency units—with all six currently leased, providing immediate rental income and an established tenant base. The main-level commercial space has most recently operated as a restaurant and offers excellent visibility and exposure from its prominent corner location. The space provides flexibility for an owner-user or future tenant and could potentially be converted to office, retail, service, or other commercial uses, subject to zoning and applicable approvals. The combination of fully leased residential units and adaptable commercial space creates an attractive opportunity for investors seeking diversified income within a single property. ...

Listing Details MLS# 7147300

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1900
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family
Foundation Size
1914
For Sale or Lease
For Sale
Acres
0.04
Lot Dimensions
getting
Assessment Pending
No

Property Features

Accessible: None CMU Style: Apartments and Retail Construction Status: Previously Owned Current Use: Residential; Restaurant Exterior: Brick/Stone Foundation: Stone Fuel: Electric; Natural Gas Heating: Baseboard; Forced Air Loan Terms: Cash; Conventional Lock Box Type: None On Site Utilities: Electric Separate Rental License Type: Standard Sewer: City Sewer/Connected Stories: Three Or More Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
499900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
105
Street Name
1st
Street Suffix
Street
Street Direction Suffix
W
Postal City
Milaca
County
Mille Lacs
State
MN
Zip Code
56353
Complex/Dev/Subdivision
First Add To Milaca

Assessments

Tax With Assessments
5658

Basement

Foundation Dimensions
getting

More Information

Building Information

Building Finished SqFt
5850
Building SqFt
5850

Income and Expenses

Annual Gross Expenses
16822.76
Annual Gross Income
56117.73
Annual Net Income
39294.97

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
OTHER

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
27
Section#
25
Township#
38

Sale Options

Sale Includes
Building

Unit 1

No. of 1 Bedroom Units
4

Unit Details

Total Units
7

Unit Information

No. of Efficiency Units
2
IDX
Listing Office: Premier Real Estate Services
Last Updated: September - 21 - 2026
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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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