1. Minnesota
  2. Willmar
  3. 1604 1st Street S
$3,500,000

1604 1st Street S, Willmar, MN 56201

  • 63,467 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1980
  • Property Lot Size Icon6.34acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $55/sqft
  • Property List Date Icon Listed 2 months ago

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.

Listing Status:
Active
Listing Office:
Edina Realty : 320-235-7887
MLS ID:
6765957
  • Heating: Forced Air
  • Parking: AsphaltPaved
  • General: One
  • Originating MLS: northstar
  • School District: Willmar
  • County: Kandiyohi
  • Topography: Level
  • Zoning: 959226820
  • Current Use: Professional/OfficeBeauty/Barber ShopChurchCommercialEvent SpaceFood ServiceOfficeOtherProfessional ServiceRetailVacantWholesale
  • Utilities: Electric CommonElectric SeparateHeating CommonHeating SeparateHot Water CommonHot Water Separate
  • Water: City Water/Connected
  • Sewer: City Sewer/Connected
  • Source: northstar

This listing courtesy of Edina Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

K

Kennedy Elementary School

824 7th St SW, Willmar, MN, 56201

Grades PK-5

0.65 miles away

W

Willmar Middle School

209 Willmar Ave SE, Willmar, MN, 56201

Grades 6-8

0.49 miles away

L

Lakeview School

611 5th St SW, Willmar, MN, 56201

Grades KG-12

0.84 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.