403 1st St

Description:

Charming and versatile property in the heart of Lyle, Minnesota, offering a rare opportunity for redevelopment or repositioning in a quiet small-town setting. Built circa 1916 and situated on a well-located lot near local schools, businesses, and community amenities, this building features over 2,200 square feet of space with flexible layout potential. With period character and solid bones including the original safe doors, this commercial property presents exceptional value for investors, owner-occupants, or those seeking a project to customize. Bring your vision to update interior spaces while preserving historic appeal; ideal for office space, retail, or a business. The property's footprint and location in Lyle make it a compelling choice for creative redevelopment. This well-maintained commercial property is currently income producing, generating $1,800 in monthly rental income. The existing tenant is in place through June 30, 2026, providing immediate and predictable cash flow. The lease is tenant-paid utilities and property taxes, minimizing owner expenses and enhancing net returns. The building offers a flexible commercial layout suitable for a variety of business uses and is well positioned for continued occupancy or future owner-user potential at lease expiration. An excellent opportunity for investors seeking stable income with limited management responsibility. Property Highlights: -Income producing $1800 per month with tenant paid utilities and taxes -Approximately 2500 AADT (annual average daily traffic) count -Over 2,200 square feet (above grade) -Built circa 1916 with classic early 20th-century construction -Situated on a 4,095 square foot lot in Mower County near downtown Lyle -Ideal for renovation, conversion, or investment opportunity -Walkable to schools, parks, and community services Address: 403 1st Street, Lyle, MN 55953

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Listing ID: 11651752