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111 E Grove St 4,982 SF 100% Leased Retail Building Caledonia, MN 55921 $575,000 ($115.42/SF)
Executive Summary
Please contact listing agent directly. Salon still operating and apartments from time to time so need 24-48 hours notice and need to be flexible. Buyer and/or buyer agent to verify sf. Salon equipment not included. Property comes with lease for salon.
Turnkey Commercial Property in the Heart of Downtown – Endless Income Potential! Don’t miss this incredible opportunity to own a fully renovated, mixed-use commercial building located in the vibrant heart of downtown. This beautifully updated property features three rentable units, complete with a laundry area and a relaxation space—perfect for long-term tenants or short-term rental potential like Airbnb. The main floor is home to a thriving full-service salon, which will remain in operation as part of the sale. The salon’s lease is a requirement for purchase and an immediate source of steady rental income. An additional fully finished space offers flexibility for a wide range of uses—envision it as an event venue, boutique retail shop, office, or creative studio. The entire building was tastefully renovated just a few years ago, blending modern updates with the charm of a downtown historic property. Other highlights include: Great parking for tenants and customers, Situated in a high-visibility, high-traffic area, Zoned for commercial and residential use, Upstairs units with strong Airbnb potential or long-term rental flexibility. Whether you're an investor seeking multiple income streams or an entrepreneur looking for a live-work opportunity, this property checks all the boxes. Schedule a tour today and explore all the possibilities this unique building has to offer!
Turnkey Commercial Property in the Heart of Downtown – Endless Income Potential! Don’t miss this incredible opportunity to own a fully renovated, mixed-use commercial building located in the vibrant heart of downtown. This beautifully updated property features three rentable units, complete with a laundry area and a relaxation space—perfect for long-term tenants or short-term rental potential like Airbnb. The main floor is home to a thriving full-service salon, which will remain in operation as part of the sale. The salon’s lease is a requirement for purchase and an immediate source of steady rental income. An additional fully finished space offers flexibility for a wide range of uses—envision it as an event venue, boutique retail shop, office, or creative studio. The entire building was tastefully renovated just a few years ago, blending modern updates with the charm of a downtown historic property. Other highlights include: Great parking for tenants and customers, Situated in a high-visibility, high-traffic area, Zoned for commercial and residential use, Upstairs units with strong Airbnb potential or long-term rental flexibility. Whether you're an investor seeking multiple income streams or an entrepreneur looking for a live-work opportunity, this property checks all the boxes. Schedule a tour today and explore all the possibilities this unique building has to offer!
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
4,982 SF
Building Class
C
Year Built
1910
Price
$575,000
Price Per SF
$115.42
Percent Leased
100%
Building Height
1 Story
Building FAR
0.71
Lot Size
0.16 AC
Zoning
Commercial
Parking
6 Spaces (1.2 Spaces per 1,000 SF Leased)
Frontage
60’ on Grove St
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | R-21.0025.000 | Improvements Assessment | $142,300 |
| Land Assessment | $22,500 | Total Assessment | $164,800 |
Property Taxes
Parcel Number
R-21.0025.000
Land Assessment
$22,500
Improvements Assessment
$142,300
Total Assessment
$164,800
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