1604 1st ST S, Willmar, MN 56201 - MLS#6765957

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Nick Leavy

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

$3,500,000

Est. payment - /mo

6.34 Acres Lot

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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 6765957

Year Built 1980

Annual Tax Amount $70,538

Tax Year 2024

Contingent None

Lot Size 6.340 Acres

Acres 6.34

Lot Dimensions 6

Property Sub-Type Retail

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.

Location

State MN

County Kandiyohi

Zoning Business/Commercial

Interior

Heating Forced Air

Inclusions Building, Land, Leases

Fireplace No

Exterior

Parking Features Asphalt, Paved

Utilities Available Electric Common, Electric Separate, Heating Common, Heating Separate, Hot Water Common, Hot Water Separate

Present Use Professional/Office,Beauty/Barber Shop,Church,Commercial,Event Space,Food Service,Office,Other,Professional Service,Retail,Vacant,Wholesale

Building

Story One

Foundation 63467

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories One

Structure Type Stucco

Schools

School District Willmar

Others

Virtual Tour https://my.matterport.com/show/?m=zHbhXY7ywME&mls=1

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Listed by Justin Paffrath • Edina Realty

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