500 1St StPark Rapids, MN 56470

This exceptional mixed-use property at 500 1st Street E, Park Rapids, MN 56470, presents a unique investment opportunity. Boasting a total of 6,382 square feet on a 0.4-acre lot, this building offers a versatile blend of commercial and residential space. The main level, encompassing approximately 4,900 square feet, features a commercial kitchen, bar, and two spacious dining areas, ideal for a restaurant or similar venture. A significant update is needed to the restaurant space. Above, a comfortable 2-bedroom apartment provides additional income potential or private living quarters. The property benefits from abundant free parking with 20 spaces available. Built in 1950, the building is zoned for Business/Commercial and Residential-Single Family use, offering flexibility for various business models. Enjoy stunning views of the Fish Hook River, enhanced by a picture window in the main dining room. Located in Hubbard County, this property enjoys high visibility, with a 2019 traffic count estimate of 15,900 vehicles per day. The property's Assessed Parcel Number (APN) is 324403200. This is a rare chance to acquire a substantial mixed-use building in a desirable location with significant potential for growth and return on investment. The asking price is $350,000.