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

Close
You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

934 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

We will automatically send your friend a one-time email inviting him or her to visit the site. LoopNet stores this information for the sole purpose of sending this one-time email and tracking the success of our referral program. View LoopNet's Privacy Policy

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 £1,118,121 (£149/SF) 4.75% Net Initial Yield

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.

Attachments

PRBC Office Suite Info
PRBC Suites 2nd floor
Business Center plan-1F Plan

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
Medical
Building Size
7,500 SF
Building Class
B
Year Built
2010
Price
£1,118,121
Price Per SF
£149
Net Initial Yield
4.75%
NOI
£53,111
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
2,500 SF
Building FAR
0.47
Land Acres
0.37 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.
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)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 32.41.00601 Total Assessment £472,678 (2023)
Land Assessment £35,054 (2023) Annual Taxes -£1 (£0.00/sf)
Improvements Assessment £437,624 (2023) Tax Year 2024

PROPERTY TAXES

Parcel Number
32.41.00601
Land Assessment
£35,054 (2023)
Improvements Assessment
£437,624 (2023)
Total Assessment
£472,678 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
(949) 689-5637

  • Listing ID: 33103392

  • Date on Market: 08/09/2024

  • Last Updated:

  • Address: 104 Park Ave N, Park Rapids, MN 56470

1 of 43
VIDEOS
3D TOUR
PHOTOS
STREET VIEW STREET
MAP

1/43
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 1 of 43
IMG_4552
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 2 of 43
Front -Handicap Ramp
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 3 of 43
Front Entry
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 4 of 43
IMG_4551
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 5 of 43
IMG_4364
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 6 of 43
IMG_4550
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 7 of 43
Main Entrance
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 8 of 43
Parking Lot
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 9 of 43
Parking Lot Entrance
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 10 of 43
South View
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 11 of 43
Lobby Entrance
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 12 of 43
IMG_4421
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 13 of 43
IMG_4414
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 14 of 43
Main Floor Lobby
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 15 of 43
IMG_4419
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 16 of 43
IMG_4411
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 17 of 43
IMG_4394
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 18 of 43
IMG_4376
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 19 of 43
IMG_4375
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 20 of 43
IMG_4395
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 21 of 43
IMG_4386
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 22 of 43
IMG_4388
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 23 of 43
IMG_4390
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 24 of 43
IMG_4378
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 25 of 43
IMG_4413
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 26 of 43
IMG_4379
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 27 of 43
IMG_4382
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 28 of 43
IMG_4393
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 29 of 43
IMG_4420
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 30 of 43
IMG_4396
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 31 of 43
IMG_4407
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 32 of 43
IMG_4374
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 33 of 43
IMG_4410
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 34 of 43
IMG_4416
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 35 of 43
IMG_4429
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 36 of 43
IMG_4434
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 37 of 43
IMG_4423
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 38 of 43
IMG_4424
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 39 of 43
IMG_4391
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 40 of 43
IMG_4465
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 41 of 43
IMG_4467
104 Park Ave N, Park Rapids, MN for sale Building Photo- Image 42 of 43
IMG_4466

1 of 1

Connect with us

© 2024 CoStar Group

Park Rapids Business Center | 104 Park Ave N
(949) 689-5637 x

Park Rapids Business Center | 104 Park Ave N

Alan Zemek

(949) 689-5637

(949) 689-5637

Already a member? Log In

First Name*

Last Name*

Please enter an email address.

Email*

Phone*

Ext (optional)

Company (optional)

Please leave a message.

Message*

{{messageTextLength}} out of 600

New to LoopNet? No problem. We'll automatically create a free account for you. By clicking the button, you agree to LoopNet's Terms of Use and Privacy Policy.

Hmm, there seems to have been an error sending your message. Please try again.

Thanks! Your message was sent.

Send another message

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}
You can provide feedback any time using the Help button at the top of the page.

Share Link