301 N Union Avenue, Fergus Falls, MN 56537 (MLS# 7016391)

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Property Description
Opportunity is everywhere in this versatile commercial building just two blocks from downtown Fergus Falls. Positioned prominently at the corner of Union Ave and Summit Ave, this former church benefits from traffic counts exceeding 10,000 vehicles per day—delivering exceptional visibility for any business. Designed for flexibility, the property offers multiple rentable areas and four separate entrances, allowing a landlord to tailor the space to a variety of uses. • Upper Level (1,450 SF): Seven functional rooms ideal for reception, offices, exam rooms, or break areas, plus a large bathroom and ample storage. • Lower Level (1,350 SF): Four usable rooms—three enclosed, two open—along with a full kitchen, full bathroom, and private entrance. • Perfect for health and wellness services (massage, chiropractic, etc.) or professional offices (legal, accounting, consulting, real estate, and more). The building is move in ready for any Type B commercial use permitted under R4 zoning. An added advantage is the 300+ SF off street parking area, accommodating 11+ vehicles—a rare convenience near downtown. Investors will appreciate the income potential: occupy one floor and lease the other, or lease both for a projected $25,000+ in annual revenue. At $8/SF gross rent, the property delivers an estimated 9.5% CAP Rate, rising to 11%+ at $9/SF and 13%+ at $10/SF. The projected DSCR of 1.3–1.8 further strengthens its appeal as an investment asset. With no existing leases, you have complete freedom to shape the property to your vision. A quick closing is available. Note: The property does not currently meet the requirements for a residential certificate of occupancy and cannot be used as a dwelling without specific upgrades to meet residential code requirements. Building updates to meet building codes may be required depending on the designated use of each floor of the building. The property is being sold in an AS IS condition.

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