Home › 518 Central Avenue, Lester Prairie, MN 55354 (MLS# 7142810)

518 Central Avenue, Lester Prairie, MN 55354 (MLS# 7142810)

$325,000
518 Central Avenue
Lester Prairie, MN 55354
MLS# 7142810
7 beds  |  5 baths  |  6288 sqft
518 Central Avenue, Lester Prairie, MN 55354
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Property Description
If you are looking to get into commercial real estate this is the perfect entry point. There is plenty of room for growth, multiple income streams, and all for an affordable price. Local bank is ready to help you finance your next investment! There is 4 apartments, and a main floor commercial space with street entrance with no steps. There is a contract with the bank to allow tenants to park next to the building otherwise off street parking is available. All residential units rented out with commercial space available with immediate lease option or owner business opportunity.

Details
Maps
Contract Information
Status: Active
Current Price: 325000
Contingency: None
ListPrice: 325000
List Date: 2026-09-11
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Waterfront YN: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Bedrooms: 7
Baths Total: 5
Foundation Size: 4970
Garage Stalls: 2
For Sale or Lease: For Sale
Acres: 0.13
Lot Dimensions: 50x120
Assessment Pending: No
Location Tax and Other Information
House Number: 518
Street Name: Central
Street Suffix: Avenue
Postal City: Lester Prairie
County: McLeod
State: MN
Zip Code: 55354
Complex/Dev/Subdivision: Lester Prairie
Assessments
Tax With Assessments: 2872
Building Information
Building Finished SqFt: 6288
Building SqFt: 6288
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Leases
Unit 1
Unit Number: 1
Monthly Rent: 800
Three-Quarter Baths: 1
Total Bathrooms: 1
Total Bedrooms: 1
Level: 2nd Level
No. of 1 Bedroom Units: 2
Unit 2
No. of 2 Bedroom Units: 1
Level: Main Level
Monthly Rent: 850
Three-Quarter Baths: 1
Total Bathrooms: 1
Total Bedrooms: 1
Unit Number: 2
Unit 3
No. of 3 Bedroom Units: 1
Lease Expiration Date: 2027-08-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1250
Three-Quarter Baths: 1
Total Bathrooms: 1
Total Bedrooms: 2
Unit Number: 3
Unit 4
Full Baths: 1
Leased?: No
Level: Multi-Level
Monthly Rent: 1450
Total Bathrooms: 1
Total Bedrooms: 3
Unit Number: 4
Unit 5
Half Baths: 1
Leased?: No
Level: Main Level
Total Bathrooms: 1
Total Rooms: 3
Unit Number: 5
Unit Details
Total Units: 5
Property Features
Accessible: Wheelchair Ramp
Air Conditioning: Window Unit(s)
Amenities Shared: Other
Appliances: Dryer; Range; Refrigerator; Washer
Basement: Full; Shared Access; Unfinished
CMU Style: Apartments and Retail; Apartments/Multi Family; Business Opportunity; Mixed Use
Construction Status: Previously Owned
Current Use: Commercial
Exterior: Brick/Stone; Stucco; Vinyl
Foundation: Brick/Mortar; Combination; Concrete Block
Fuel: Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional; Conventional Rehab
Location Description: Downtown
Lock Box Type: Supra
On Site Utilities: Electric Common; Heating Common
Potential Use: Income; Office; Professional; Retail
Rental License Type: Standard
Road Frontage: City Street; Paved Streets; Sidewalks
Roof: Age Over 8 Years; Flat; Rubber
Sewer: City Sewer/Connected
Stories: Two
Water: City Water/Connected

Listing Office: RE/MAX Advantage Plus

Last Updated: October - 17 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Tuesday 20th of October 2026 10:37 PM

218-998-4400

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