123 S Broadway, Pelican Rapids, MN 56572

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 2
Owner Occupied: No
Waterfront Present: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 2684
Garage Stalls: 5
Power Company: Ottertail Power
For Sale or Lease: For Sale
Acres: 0.07
Lot Dimensions: 25x134
Assessment Pending: Unknown

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: None Appliances: Dryer; Range; Refrigerator; Washer Basement: Owner Access; Partial CMU Style: Apartments/Multi Family Construction Materials: Brick; Concrete; Frame Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Vinyl Fencing: None Flooring: Carpet; Vinyl/Linoleum; Wood Foundation: Combination Fuel: Electric; Natural Gas Heating: Forced Air Internet Options: Fiber Optic Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: None Lot Description: Corner Lot On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Insurance; Repairs; Sewer; Snow Removal; Trash Collection; Water Parking Characteristics: No Int Access to Dwelling; Tuckunder Garage Pool Description: None Potential Use: Diversified; Office; Retail Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street; Highway; Paved Streets; Sidewalks; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Composition; Metal Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV; Electricity; Gas; Hot Water Topography: Level Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 375000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 123
Street Direction Prefix: S
Street Name: Broadway
Postal City: Pelican Rapids
County: Otter Tail
State: MN
Zip Code: 56572
Complex/Dev/Subdivision: Frazees 1st Add

Assessments

Tax With Assessments: 3592
Assessment Balance: 0

Basement

Foundation Dimensions: 22x122
Owner Access: Yes
Partial: Yes

More Information

Building Information

Building Finished SqFt: 3784
Building SqFt: 6468
Ceiling Height: 8-10

Income and Expenses

Annual Caretaker Expense: 2640
Annual Gross Income: 50100
Annual Insurance Expense: 1800
Annual Maintenance Expense: 2640
Annual Trash Expense: 900

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 43
Section#: 27
Township#: 136

Sale Options

Sale Includes: Building, Fixture/Equipment, Leases

Unit 1

Unit Number: #1
Monthly Rent: 850
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Level: Main Level
Leased?: Yes
Lease Expiration Date: 2026-04-01
No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 3
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Main Level
Monthly Rent: 800
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: #2

Unit 3

Full Baths: Yes
Leased?: No
Level: 2nd Level
Monthly Rent: 925
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: #3

Unit 4

Leased?: No
Level: 2nd Level
Monthly Rent: 850
Three-Quarter Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: #4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2027-07-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 750
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: #5

Unit Details

Total Units: 5

Office/Member Info

Association: LCAR

Location, Tax and Other Information

Legal Description: SECT-27 TWP-136 RANGE-043 FRAZEE'S ADDN LOT 15 BLK 10
Listing City: Pelican Rapids
Map Page: 999
Municipality: Pelican Rapids
School District: Pelican Rapids
School District Phone: 218-863-5910
Zip Plus 4: 9572
Property ID Number: 76000990450001
Tax Year: 2025
Tax Amount: 3592
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: No Vacancies! In the heart of Pelican Rapids sits this 5-unit Apartment Building, a great Investment opportunity in a town with plenty of jobs available. 3-two bed/one bath units and 2-one bed/one bath units. This is a well maintained property and new updates to Unit #1 are completed. Each unit has its own laundry and garage. Pelican Rapids is a thriving town located in the middle of Lakes Country in Otter Tail County.
Directions: On the corner of S Broadway(Hwy 59) 2nd Ave SE in Pelican Rapids, Minnesota

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

None: Yes

Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

Brick: Yes
Concrete: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes
Vinyl: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Vinyl/Linoleum: Yes
Wood: Yes

Foundation

Combination: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Forced Air: Yes

Internet Options

Fiber Optic: Yes

Lock Box Type

None: Yes

Lot Description

Corner Lot: Yes

Owner Pays

Insurance: Yes
Repairs: Yes
Sewer: Yes
Snow Removal: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

No Int Access to Dwelling: Yes
Tuckunder Garage: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Highway: Yes
Paved Streets: Yes
Sidewalks: Yes
Storm Sewer: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Composition: Yes
Metal: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Topography

Level: Yes

Water

City Water/Connected: Yes

No. of Ranges

Five: Yes

No. of Refrigerators

Five: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes
Gas: Yes
Hot Water: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Downtown: Yes

Potential Use

Diversified: Yes
Office: Yes
Retail: Yes

Rent Rate per Foot

Per Month: Yes