1604 1st ST S new Save Request In-Person Tour Request Virtual Tour
Willmar,MN 56201
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6765957
Year Built 1980
Annual Tax Amount $70,538
Tax Year 2024
Lot Size 6.340 Acres
Property Sub-Type Retail
Property Description
Skylark Center encompasses a 63,467 square foot facility situated on 6.64-acres within Willmar's key commercial shopping destination. About 95 miles west of the metropolitan area and serves as a primary retail hub for west-central MN. Positioned on the town's principal commercial artery (1st Street/Highway 71), this center offers plenty of on-site parking suitable for diverse occupants, with a current lineup featuring healthcare providers, professional services, and various retailers. This asset is ideal for investors seeking upside potential, developers looking for growth opportunities, or those interested in owner occupancy. The location and structure support additional expansion options, including residential units, standalone retail pads, or storage facilities. KEY INVESTMENT FEATURES: CENTRAL WILLMAR LOCATION 6.64-ACRE SITE 63,467 LEASABLE SQUARE FEET 500 PARKING SPOTS POTENTIAL FOR VALUE ENHANCEMENT • Attractive Pricing: $3,500,000 / $55.15 per SF / 10.82% Initial Year Cap Rate • Upside through enhancements • Chance to revamp or redevelop • Reliable existing lease income • Directly opposite Uptown Willmar Mall • Designated for Shopping Center use • Potential eligibility for Tax Increment Financing. Skylark Center sits along Willmar's primary commercial strip, facing the Uptown Willmar Mall (previously called Kandi Mall). Investors can leverage its prime positioning to boost returns via several approaches, such as: 1. Introducing a drive-through café or similar quick-service outlet on the eastern portion of the property 2. Filling empty spaces with new occupants - Options for retail could involve a craft brewery, outdoor equipment shop, thrift or bargain apparel outlets, budget variety stores - Storage units - Professional or healthcare offices 3. Long-term land strategy - Generate income from land operations, then pursue full-site redevelopment later 4. Occupy and Offload to an end-user buyer at an elevated value by guaranteeing a lease. Do not miss the virtual 3D tour and call for a private viewing today.
Location
State MN
County Kandiyohi
Zoning Business/Commercial
Interior
Heating Forced Air
Inclusions Building,Land,Leases
Exterior
Parking Features Asphalt,Paved
Utilities Available Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Separate
Building
Story One
Foundation 63467
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Stucco
Schools
School District Willmar
Others
Virtual Tour https://my.matterport.com/show/?m=zHbhXY7ywME&mls=1