, Pine City, MN 55063 (MLS# 6238253)

Overview

Description

The city has conditionally approved 80 dorm style units. Amazing opportunity with many possibilities! Ideal location and building for condos, townhouses, hotel with bar restaurant, luxury apartments or possibly something else! The 62,000 S/F building was originally designed and built for a third level and the view is outstanding! The local government is excited to help the developer transfer this iconic building and property into something that will enrich the town of Pine City. Only one hour from downtown Minneapolis/St. Paul , this 5.5 acres has 457 feet of lakeshore on Cross Lake, over 3,000 boat-able acres. Excellent restaurants, amazing local brewery and many other other attractions within walking distance!

General Property Information

Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 50
Road Btwn WF & Home?: No
Waterfront Frontage: 457
Waterfront YN: Yes
Year Built: 1970
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 4185
Lake/Waterfront Name: Cross
For Sale or Lease: For Sale
Lot Dimensions: 405X690X454X488
Garage Stalls: 0

Property Features

Accessible: Accessible Elevator Installed; Doors 36"+; Hallways 42"+ CMU Style: Apartments and Retail; Apartments/Multi Family; Business Opportunity; Low Rise; Other; Resort Construction Status: Previously Owned Current Use: Vacant Exterior: Brick/Stone Financing Terms: Conventional Fuel: Electric; Natural Gas Heating: Boiler; Hot Water On Site Utilities: Electric Common; Heating Common; Hot Water Common Parking Characteristics: Paved Lot Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Off Market Date: 2023-07-07
Closed Date: 2023-09-15
Sales Close Price: 1300000
Contingency: None
ListPrice: 1800000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Pine City
County: Pine
State: MN
Zip Code: 55063

Additional Parcels Information

Property ID #2: 425328001

Assessments

Assessment Balance: 3825
Tax With Assessments: 69634

More Information

Building Information

Building Finished SqFt: 72900
Building SqFt: 72900

Lake Details

Lake Acres: 925
Lake Depth: 30

Lease Details

Land Leased: Not Applicable
Monthly Land Lease Amt: 0

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Fixture/Equipment, Land

Unit Details

Total Units: 150

Office/Member Info

Association: SPAAR
MLSID: RMLS

Location, Tax and Other Information

Listing City: Pine City
Map Page: 999
Municipality: Pine City
Rental License?: No
School District: Pine City
School District Phone: 320-629-4010
Map Coordinate Source: RETS
DNR Lake ID#: 58011900
DNR Lake Classification: General Development
Lake Chain: N
Property ID Number: 425328000
Tax Year: 2022
Tax Amount: 65809
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: The city has conditionally approved 80 dorm style units. Amazing opportunity with many possibilities! Ideal location and building for condos, townhouses, hotel with bar restaurant, luxury apartments or possibly something else! The 62,000 S/F building was originally designed and built for a third level and the view is outstanding! The local government is excited to help the developer transfer this iconic building and property into something that will enrich the town of Pine City. Only one hour from downtown Minneapolis/St. Paul , this 5.5 acres has 457 feet of lakeshore on Cross Lake, over 3,000 boat-able acres. Excellent restaurants, amazing local brewery and many other other attractions within walking distance!
Directions: Exit I35 on #169 go east on Hillside AVE to Main st, go north to 4 way stop, go east to stop sign, go north to property on the east side.

Accessible

Accessible Elevator Installed: Yes
Doors 36"+: Yes
Hallways 42"+: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Financing Terms

Conventional: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes

Parking Characteristics

Paved Lot: Yes

Sewer

City Sewer/Connected: Yes

Water

City Water/Connected: Yes

On Site Utilities

Electric Common: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments and Retail: Yes
Apartments/Multi Family: Yes
Business Opportunity: Yes
Low Rise: Yes
Other: Yes
Resort: Yes

Current Use

Vacant: Yes