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SOLD! Downtown Brainerd Commercial & Apartments

Listed by Nate Grotzke

PENDING: RETAIL BLDG W/ APTS: LAUREL ST, BRAINERD

Property Description: SOLD! PRICE REDUCED TO $299,000 FROM $449,000! Prime commercial corner located in the heart of Downtown Brainerd. This historic Lakes Area 2-level night club with 3 full-service bars has been entertaining the masses for decades with 2 stages for live bands, dancing, and drinks. Excellent opportunity for an entrepreneur to breathe new life into this one-of-a-kind building while earning additional income through the 9 upper level apartment rental units. This location boasts great visibility, easy access and high traffic counts!

Listing Details

mls: 4860506
CC File #: 1457
Address: 707 Laurel Street
City: Brainerd
State: MN
Zip: 56401
Zoning: B3-Central Business District
PID#: 09196041023Z889
Legal Description: Lots 23 & 24 Block 41, Town of Brainerd & First Addition to Brainerd
Lot Size : Acres: 0.16
Lot Size : Sq.Ft.: 7000
Lot Dimensions: 140' x 50'
Building Size : Total Sq. Ft.: 21,000
Building Size : Main Level Sq. Ft.: 7,000
Building Size : Upper Level Sq. Ft.: 7,000
Building Size : Lower Level Sq. Ft.: 7,000
Sale Price: $299,000.00
Original Price: $449,000.00
Price Note: PRICE REDUCED TO 299,000 FROM $449,000!

Directions: From the Historic Water Tower in Downtown Brainerd (at the intersection of S 6th Street and Washington Street) - South on S 6th Street - East on Laurel Street 1 Block - Property is NE corner of Laurel Street and S 7th Street
Property Features & Assets: Main Level: 7,000 SF (2 Bars, Stage, 4 Restrooms); Lower Level: 7,000 SF (1 Bar, Stage, 3 Restrooms, Storage); Upper Level: 7,000 SF (9 Apartments - Currently no floor plan available) - Gross Leases w/ Tenant's Paying Electric.

Property Features

Water: City
Sewer: City
Heating: Natural Gas Forced Air
Cooling: Central Air - Rooftop Unit
Electric : Amps: 1 (200) Amp Panel & 1 (100) Amp Panel
Electric : Phase: Single
Lighting: Fluorescent
Year Built: 1923
Construction: Stone & Concrete
Foundation: Stone & Concrete
Roof: Flat
Exterior: Brick
Traffic Counts: 11,100 on S 6th Street and 1,050 on Laurel Street
Property Tax Year: 2017
Annual Property Tax: $7,792.71
Ceiling Height: Main Level: 11'; Lower Level: 8.6' - 9'
Floor Drains: 6
Bathrooms: Main Level: 4 (2 Men's Rooms, 2 Women's Rooms); Lower Level: 3 (1 Men's Room, 1 Women's Room, 1 Private)
Indoor Sprinkling: Lower-Level Only
High-Speed Internet: Yes
Parking Spaces: On-Street
Road Frontage: 140' along Laurel Street and 50' along S 7th Street
Neighboring Businesses: Businesses nearby include EL Menk, The Gallery, Bridge of Harmony, Bargains on 7th, Pawn Shop, The Legion, Bremer Bank, Hockey House, Arlene's, The Pit Stop, The Ivy Room, O'Neary's, Cornerstone Liquor, Coco Moon, Northwinds Grille, plus numerous others.
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Information provided by members of Greater Lakes Association of Realtors. Copyright 2009 Greater Lakes Multiple Listings Service. All rights reserved. Information is deemed reliable but not guaranteed.