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Neal Anderson, Managing Broker
(612) 865-5955
Counselor Realty, Inc |
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1604 1st Street S, Willmar, MN 56201
STATUS: Active
PROPERTY TYPE: Commercial - Retail
SCHOOL: Willmar
Property Description
Skylark Center encompasses a 63,467 square foot facility situated on 6.64-acres within Willmar's key commercial shopping destination. About 95 miles west of the metropolitan area and serves as a primary retail hub for west-central MN. Positioned on the town's principal commercial artery (1st Street/Highway 71), this center offers plenty of on-site parking suitable for diverse occupants, with a current lineup featuring healthcare providers, professional services, and various retailers. This asset is ideal for investors seeking upside potential, developers looking for growth opportunities, or those interested in owner occupancy. The location and structure support additional expansion options, including residential units, standalone retail pads, or storage facilities. KEY INVESTMENT FEATURES: CENTRAL WILLMAR LOCATION 6.64-ACRE SITE 63,467 LEASABLE SQUARE FEET 500 PARKING SPOTS POTENTIAL FOR VALUE ENHANCEMENT ? Attractive Pricing: $3,500,000 / $55.15 per SF / 10.82% Initial Year Cap Rate ? Upside through enhancements ? Chance to revamp or redevelop ? Reliable existing lease income ? Directly opposite Uptown Willmar Mall ? Designated for Shopping Center use ? Potential eligibility for Tax Increment Financing. Skylark Center sits along Willmar's primary commercial strip, facing the Uptown Willmar Mall (previously called Kandi Mall). Investors can leverage its prime positioning to boost returns via several approaches, such as: 1. Introducing a drive-through café or similar quick-service outlet on the eastern portion of the property 2. Filling empty spaces with new occupants - Options for retail could involve a craft brewery, outdoor equipment shop, thrift or bargain apparel outlets, budget variety stores - Storage units - Professional or healthcare offices 3. Long-term land strategy - Generate income from land operations, then pursue full-site redevelopment later 4. Occupy and Offload to an end-user buyer at an elevated value by guaranteeing a lease. Do not miss the virtual 3D tour and call for a private viewing today.
Property Features
Property Type: Commercial - Retail Fuel Type: Natural Gas Heating: Forced Air Lot Size: 6.34 Acres Stories: 1.0 Taxes: $70,538 Year Built: 1980
Feature Descriptions
Current Use: Professional/Office, Beauty/Barber Shop, Church, Commercial, Event Space, Food Service, Office, Professional Service, Retail, Vacant, Wholesale
Days on Site: 246
Foundation Size: 63467
Handicap Accessible: Doors 36+, Fully Wheelchair, Hallways 42+, Accessible for Hearing-Impairment, Door Lever Handles, No Stairs Internal, Sight Impaired
Lot Dimensions: 6
Parcel#: 959226820
Parking: Asphalt, Paved Lot
Sale Includes: Building, Land, Leases
Sewer: City Sewer/Connected
Units: 20
Utilities: Electric Common, Electric Separate, Heating Common, Heating Separate, Hot Water Common, Hot Water Separate
Water: City Water/Connected
Listed By / Shown By
Agency Name: Edina Realty
Agency Phone: 320-235-7887
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1604 1st Street S | MLS# 6765957
This commercial property located at 1604 1st Street S, Willmar, MN 56201 is currently listed for sale with an asking price of $3,500,000. 1st Street S is located within the Willmar school district. Search Willmar real estate on nanderson.counselorrealty.com today.