117 3rd Street E., Park Rapids, MN, 56470

117 3rd Street E. Park Rapids, MN 56470

117 3rd Street E., Park Rapids, MN, 56470
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$2,600,000
Last Verified:
Aug 21, 2026

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Highlights

  • Converted from a High School to Residential Units Approximately 20 Years Ago
  • Located at the intersection of 3rd Street East and Washington Avenue South, this downtown Park Rapids property offers excellent visibility and convenient access to surrounding businesses, restaurants, and community amenities.
  • New Sprinkler System, Security Cameras, 75% Roof Replacement, and Parking Lot Improvements
  • New Electrical and Plumbing Completed Between 2004–2007
  • Opportunity to Develop Additional Residential Units
  • Includes Three Parcels
  • An NDA will be required to receive further information.

Description

Converted from a High School to Residential Units Approximately 20 Years Ago
Located at the intersection of 3rd Street East and Washington Avenue South, this downtown Park Rapids property offers excellent visibility and convenient access to surrounding businesses, restaurants, and community amenities.
New Sprinkler System, Security Cameras, 75% Roof Replacement, and Parking Lot Improvements
New Electrical and Plumbing Completed Between 2004–2007
Opportunity to Develop Additional Residential Units
Includes Three Parcels
An NDA will be required to receive further information.

Located at the intersection of 3rd Street East and Washington Avenue South, this downtown Park Rapids property offers excellent visibility and convenient access to surrounding businesses, restaurants, and community amenities.


Year Built: 1939
Building Size: 101291sq ft
Lot Size: 2.36 acres


Documents

Park Rapids OM.pdf
11. Confidentiality Agreement.pdf

Map of 117 3rd Street E., Park Rapids, MN, 56470

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.