Property Listing
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
Property Information
Status: Active
Sub Type: ********
List Price: $950,000
MLS#: 6615095
Current Price: $950,000
Address: 400 Main Street S, Biwabik, MN 55708
City: Biwabik
State: MN
Postal Code: 55708
Geo Lat: 47.532597
Geo Lon: -92.343621
Subdivision: Biwabik
County: St. Louis
Property Description
Year Built: 1920
Lot Size SqFt: 6969.6
Gen Tax: 3588
Specials Inst: 256
High School: ********
Square Ft. Source:
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Total SqFt.: ********
Style: ********
Total Bedrooms: 5
Total Bathrooms: 3
Total Full Baths: ********
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Lot Feat/Fld Plain: Array
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Inclusions: Building, Business Assets, Business, Fixture/Equipment, Land, Leases
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