For Sale: Walker MLS# 7146450
Active
NEW!
$1,150,000
Commercial: 1 Story
16 br • 14 ba • Built 1950
1.496 acres
Walker-Hackensack-Akeley schools
MLS# 7146450
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Property Description
Exceptional investment opportunity in Walker, Minnesota, overlooking the shores of Leech Lake. This fully remodeled 14-unit apartment property offers strong income potential with a cap rate over 7% in one of northern Minnesota’s most popular year-round destinations.
The property features one spacious 3-bedroom, 1-bath unit, ten 1-bedroom, 1-bath units, and three efficiency units. All 14 units have been recently renovated with updated interiors and modern finishes, creating a turnkey opportunity with limited immediate capital improvements needed.
Three units are currently operated as Airbnb rentals, providing a blend of long-term and short-term rental income and the opportunity to capitalize on Walker’s strong tourism market. The setting offers scenic views of Leech Lake while providing convenient access to downtown Walker, dining, shopping, marina access, and area recreation.
Boating, fishing, snowmobiling, biking, and trail systems draw visitors to the area throughout the year. With its remodeled condition, diversified rental strategy, lake views, and desirable Walker location, this property presents an attractive opportunity for investors seeking established cash flow with additional income and long-term growth potential.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,150,000
Property Type:
Commercial
City:
Walker
Garage Spaces:
6
County:
Cass
Year Built:
1950
State:
MN
Property Style:
1 Story
Zip Code:
56484
Subdivision Name:
Commercial Clubs 1st Add
Interior
Bedrooms:
16
Bathrooms:
14
Flooring:
Carpet, Concrete Slab, Luxury Vinyl Plank
Refrigerators:
One Per Unit
Basement Details:
None
Exterior
Stories:
One
Garage Spaces:
6
Air Conditioning:
Wall Unit(s)
Foundation Size:
5,233 ft2
Fencing:
None
Handicap Accessible:
No Stairs External, No Stairs Internal
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
- Asphalt
- Detached Garage
- Parking Lot
Unit Amenities:
Panoramic View
Road Frontage:
City Street
Exterior Material:
Frame
Roof Details:
Age 8 Years or Less
Lake & Waterfront
Waterfront Present:
N
Waterfront View:
North
Waterfront:
Lake View
Lake Bottom:
- Excellent Sand
- Hard
- Sand
Lot & Land
Acres:
1.496
Geolocation:
47.100676, -94.574705
Inclusions:
Building, Business Assets, Business, Land, Leases
Lot Dimensions:
365 x 188 x 201 x 272
Zoning:
Business/Commercial
Farm
Topography:
Level
Schools
School District:
113
District Phone:
2185474201
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$8,596
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$9,744
Income
Annual Gross Income:
$150,058
Rent
Annual Net Income:
$86,533
Units
Total Units:
14
Miscellaneous
Current Use:
- Commercial
- Hotel/Motel
- Other
- Residential
Fuel System:
- Electric
- Propane
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
Water System:
City Water/Connected
Power Company Name:
Minnesota Power
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Coldwell Banker Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.