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Neal Anderson, Managing Broker
(612) 865-5955
Counselor Realty, Inc |
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107 Minnesota Avenue E, Walker, MN 56484
STATUS: Active
PROPERTY TYPE: Commercial - Business
SUBDIVISION: Commercial Clubs 1st Add
SCHOOL: Walker-Hackensack-Akeley
Property Description
Exceptional investment opportunity in Walker, Minnesota overlooking the shores of Leech Lake. This fully remodeled 14-unit apartment property offers immediate income potential with a cap rate over 7%, along with making it one of northern Minnesota's most desirable lake destinations.The unit mix includes one spacious 3-bedroom, 1-bath apartment, ten 1-bedroom, 1-bath apartments, and three efficiency units. All units have been recently renovated, delivering modern finishes, updated interiors, and turnkey appeal for both long-term tenants and short-term guests. Three units are currently operating as Airbnb rentals, creating diversified revenue streams and strong seasonal income potential driven by year-round tourism.The property's elevated setting provides scenic lake views and easy access to Walker's vibrant downtown, known for its local shops, dining, marina access, and recreational opportunities. Residents and guests enjoy proximity to boating, fishing, snowmobiling, and trail systems that make this region a consistent draw for visitors.Located just a short drive from Park Rapids and Nevis, the property benefits from steady regional traffic and a strong vacation rental market anchored by Leech Lake's reputation as a premier outdoor destination. The extensive remodel reduces immediate capital expenses while positioning the asset for stable cash flow and long-term appreciation.Ideal for investors seeking a turnkey, mixed-use rental strategy in a high-demand lake market, this property combines location, modernization, and income diversity in one compelling package.
Property Features
Property Type: Commercial - Business Cooling: Wall Unit(s) Fuel Type: Electric, Propane Garage: 6 Heating: Baseboard Lot Size: 1.50 Acres Roof Type: Age 8 Years or Less, Asphalt Stories: 1.0 Taxes: $3,477 Year Built: 1950
Feature Descriptions
Current Use: Commercial, Residential
Days on Site: 51
Foundation Size: 5233
Lot Dimensions: 365x188x201x272
Owners Expense: All Utilities
Parcel#: 963510611
Parking: Detached Garage, Asphalt, Parking Lot
Road Frontage: City Street, State Road
Sale Includes: Building, Business
Sewer: City Sewer/Connected
Units: 14
Utilities: Electric Common, Heating Common
Water: City Water/Connected
Waterfront: Lake View
Local Schools
School District: Walker-Hackensack-Akeley
Listed By / Shown By
Agency Name: Coldwell Banker Realty
Agency Phone: 218-395-9239
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107 Minnesota Avenue E | MLS# 7021063
This commercial property located at 107 Minnesota Avenue E, Walker, MN 56484 is currently listed for sale with an asking price of $1,215,000. Minnesota Avenue E is located within the Walker-Hackensack-Akeley school district. Search Walker real estate on nanderson.counselorrealty.com today.