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Biwabik,MN 55708
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,969 sqft
Price per Sqft $136
Subdivision Biwabik
MLS Listing ID 6615095
Bedrooms 5
Year Built 1920
Annual Tax Amount $3,588
Lot Size 6,969 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, a nugget ice machine, a Turbofan commercial oven, and an espresso machine). 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
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.
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
Garage 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