105 1st Street

Property information

Beds

—

Baths

N/A

Sq Ft

—

Year Built

1900

Property Type

Apartments and Retail

Acres

0.04

County

Mille Lacs

Waterfront

No

Waterfront View

—

Waterfront Feet

—

Water Body

—

Parking

0

Basement

—

Price/Sqft

—

Stories

Three Or More

HOA Fee

N/A

Updated

2 D AGO

List Date

9/20/2026

Excellent mixed-use investment opportunity in a high-visibility corner location in Milaca! This versatile property combines an established residential income stream with flexible commercial space, offering investors multiple ways to maximize the property’s potential. The residential portion features 6 apartments—four 1-bedroom units and two efficiency units—with all six currently leased, providing immediate rental income and an established tenant base. The main-level commercial space has most recently operated as a restaurant and offers excellent visibility and exposure from its prominent corner location. The space provides flexibility for an owner-user or future tenant and could potentially be converted to office, retail, service, or other commercial uses, subject to zoning and applicable approvals. The combination of fully leased residential units and adaptable commercial space creates an attractive opportunity for investors seeking diversified income within a single property. An owner-user could also explore utilizing the commercial portion while retaining the residential units as an income-producing component. With its prominent location, existing rental income, and flexible commercial footprint, this property offers a variety of possibilities for an investor looking to acquire a mixed-use asset with potential for continued income and future value enhancement. Bring your vision and take advantage of the possibilities this property has to offer!