400 Main ST S, Biwabik, MN 55708 - MLS#6615095

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sun

Jul

Mon

Jul

Tue

Jul

Nick Leavy

nick@ermetro.com +1(612) 236-5331

$950,000

Est. payment - /mo

5 Beds

3 Baths

4,000 Sqft Lot

Save Virtual Tour

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Biwabik

MLS Listing ID 6615095

Bedrooms 5

Year Built 1920

Annual Tax Amount $3,588

Lot Size 4,000 Sqft

Acres 0.16

Lot Dimensions 125x50

Property Description

Prime Investment Opportunity on Main Street, Biwabik, MN. Located just miles from Giants Ridge Golf and Ski Resort in the heart of Minnesota's Iron Range on the Main Street of Biwabik, this updated mixed-use property offers an exceptional live-work-play opportunity. This versatile building features: 3 revenue-generating apartments ideal for both short-term rentals or long-term tenants, 2 commercial spaces perfect for retail or office use, laundry center, and private outdoor hardscape patio for tenants or guests. Extensive recent upgrades include new plumbing (supply and drain), electrical service, heat distribution system, windows, whole-building ventilation, spray foam insulation, solar panels, and drywall. With its prime location and sustainable upgrades, this property is a smart and profitable investment opportunity. Each of the 3 apartments features beautifully refinished hardwood flooring, new kitchen cabinetry with quartz countertops, and stainless-steel appliances. The bathrooms are elegantly tiled, while the stunning wood trim throughout adds a touch of timeless craftsmanship. Each unit is thoughtfully designed, incorporating unique decorative elements that pay homage to the area's rich mining history, creating distinctive and inviting living spaces. All furnishings are included in the sale. The property offers two commercial spaces available for lease, including a professionally designed 750 sq. ft. coffee shop (COMM1) featuring a convenient walk-up window facing the street. The space includes brand-new commercial appliances (refrigerators, nugget ice machine, Turbofan commercial oven, espresso machine, etc. See full list under documents). The installation of equipment, countertops, and cabinetry is pending. Final work on the bathroom, utility room, and electrical/plumbing connections for coffee shop-specific equipment is remaining. This presents an excellent opportunity for a business looking to customize and establish a presence in a busy prime location with an average exposure of 4400 cars a day. The 1000sf detached commercial space (COMM2) has been extensively upgraded and is equipped with a range of modern amenities. Highlights include a new roof installed in 2022, a solar PV system with a 200-amp electrical service and grid tie, radiant floor heating, polished concrete floors, and roughed-in water, sewer, bathroom, and utility room connections. The space also features an Arctic Heat Pump system for efficient heating and air conditioning, new windows, LED lighting, and spray foam insulation for enhanced energy efficiency. This commercial unit is well-prepared to accommodate a variety of business needs and is ready for build-out. There is also a convenient on-site laundry center with 3 washers, 3 dryers, and storage space. A private hardscaped patio provides an outdoor retreat, while a 4-car parking pad, located adjacent to an easily accessible alley, ensures ample parking. Seller is willing to separate the property into two parcels and would retain the parcel with second commerical space on it. The location is highly convenient, with a grocery store and gas station nearby, and a city park directly across the street, enhancing the property's appeal for both tenants and businesses. Listing agent related to seller.

Location

State MN

County St. Louis

Community Biwabik

Direction From Virginia take US 53 to MN 135 exit to Gilber/ Biwabik. Continue approx 10 miles on MN 135. The property will be on the right across from the Lucky 7 gas station in Biwabik.

Rooms

Basement Concrete Block, Crawl Space, Daylight/Lookout Windows, Drain Tiled, Drainage System, Owner Access, Storage Space

Interior

Heating Boiler, Ductless Mini-Split, Heat Pump, Hot Water, Humidifier, In-Floor Heating, Radiator, Zoned

Cooling Ductless Mini-Split, Heat Pump, Zoned

Window Features Blinds,ENERGY STAR Qualified Windows,Insulated Windows,Low Emissivity Windows,Screens,Triple Pane Windows,Window Treatments

Exterior

Parking Features Guest Parking, Paved Lot, Uncovered/Open

Utilities Available Electric Separate, Hot Water Separate

Roof Type Age 8 Years or Less,Architectural Shingle

Accessibility None

Porch Patio

Building

Lot Description Corner Lot

Water City Water/Connected

Structure Type Block,Concrete,Frame

Others

Senior Community No

Tax ID 015003000910

Virtual Tour https://my.matterport.com/show/?m=5bAE5UyKDPB&mls=1

Read Less Info

Listed by Better Homes and Gardens Real Estate First Choice

PICK YOUR CITY