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Armory Center 217 Plum St 12,200 SF 100% Leased Office Building Red Wing, MN 55066 $800,000 ($65.57/SF)

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INVESTMENT HIGHLIGHTS

Downtown Redevelopment Opportunity – Part of a revitalized riverfront area with growing foot traffic.
Ready Infrastructure – Equipped kitchen/event space lowers barrier to entry for hospitality operators

Flexible Interior Layout – Ideal for office conversion, retail, craft food market, gallery space, or mixed-use development.

EXECUTIVE SUMMARY

Step into the Armory Building at 217?Plum Street—a beautifully restored historic landmark offering 12,200?sq?ft of turn-key commercial versatility. The lower level hosts a fully equipped catering/event kitchen and dining area with built-in fire suppression and ventilation. Upstairs, flexible multi-tenant suites—currently housing medical, wellness, and financial services—are supported by signage opportunities and modern systems. With 25 reserved parking spaces, transit adjacency, and majority owner control of the condominium, this is a rare downtown opportunity combining heritage, functionality, and scale.
The property comprises a commercial condominium with multiple units. The offering includes ownership of all but two spaces within the condominium association.

The Armory Building Binder

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Office

Building Size

12,200 SF

Building Class

Year Built

1900

Price

$800,000

Price Per SF

$65.57

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

6,100 SF

Slab To Slab

9’

Building FAR

1.48

Lot Size

0.19 AC

Opportunity Zone

Yes

Zoning

3A COMMERCIAL LAND

Parking

25 Spaces (1.78 Spaces per 1,000 SF Leased)

Restaurant

Signage

MAJOR TENANTS

Family Services Rochester
Health Care and Social Assistance
356 SF
-
-

Hiawatha Valley
Health Care and Social Assistance
1,455 SF
-
-

Midwest Recovery
Health Care and Social Assistance
962 SF
-
-

Red Wing Acupuncture
Health Care and Social Assistance
746 SF
-
-

Ripley Dental
Health Care and Social Assistance
1,932 SF
-
-

Finance and Insurance
1,038 SF
-
-

Thrivent is a Fortune 500 diversified financial services organization, providing advice, investments, insurance, banking and generosity programs and solutions. They've inspired generations to make financial choices guided by their Christian values. They provide the expertise and support that enable their clients to take care of themselves and others. Everything they do is in service of their clients. Their unique business model as a fraternal benefit society allows them to take a client-focused, long-term view to all they do and the investments they make—helping people and their communities thrive. They understand and treasure the responsibilities entrusted to them and are dedicated to fulfilling the promises they make to their clients—whether they’re protecting their finances, investing for the future or generously giving back to others.

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE END
Family Services Rochester	Health Care and Social Assistance	356 SF	-	-
Hiawatha Valley	Health Care and Social Assistance	1,455 SF	-	-
Midwest Recovery	Health Care and Social Assistance	962 SF	-	-
Red Wing Acupuncture	Health Care and Social Assistance	746 SF	-	-
Ripley Dental	Health Care and Social Assistance	1,932 SF	-	-
	Finance and Insurance	1,038 SF	-	-

LINKS

1 1

Walk Score®

Very Walkable (76)

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PROPERTY TAXES

Parcel Numbers	Multiple 55.017.0060 55.017.0030 55.017.0050 55.017.0020 55.017.0010 55.017.0070	Improvements Assessment	$765,500
Land Assessment	$168,000	Total Assessment	$933,500