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300 1st Street S, Montgomery, MN 56069

$399,900

Building Front - Central Montgomery Location!

Property Type: Commercial Bedrooms: 6 Baths: 6 Lot Size (sq. ft.): 6,970 Status: Active

Current Price: $399,900 List Date: 5/06/2026 Last Modified: 6/06/2026

Overview

Description

8.6% CAP Rate! Fully Occupied. Located in the heart of Montgomery, this versatile mixed-use property at 300 1st Street South offers a rare opportunity for both investors and owner-occupants alike. The building features five residential units, including two 2-bedroom units, two 1-bedroom units, and one studio. In addition, the property boasts a spacious commercial unit, ideal for a business owner or additional income stream. A detached garage adds further value and functionality for tenants or storage. Recent updates enhance both the appeal and long-term value of the property, including fresh paint and new flooring throughout two of the residential units, and a new water heater, making this a turnkey opportunity with key improvements already completed. Whether you're looking to expand your portfolio or secure a property with multiple income streams, this well-maintained building within driving distance to the twin cities offers flexibility, updates, and solid investment potential.

Listing Details MLS# 7065550

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 4
Waterfront Present: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 2696
Garage Stalls: Yes
For Sale or Lease: For Sale
Acres: 0.16
Lot Dimensions: 134x53
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Deck Appliances: Disposal; Range; Refrigerator CMU Style: Apartments and Retail Construction Status: Previously Owned Current Use: Residential; Retail Exterior: Brick/Stone Flooring: Luxury Vinyl Plank; Wood Foundation: Stone Fuel: Electric; Natural Gas Heating: Baseboard; Forced Air Internet Options: Cable; DSL; Fiber Optic Loan Terms: Cash; Contract for Deed; Conventional; Other Location Description: Downtown Lock Box Type: Combo Miscellaneous Information: Display Window On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Lawn; Lawn; Maintenance/Repair; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Roof: Age 8 Years or Less Sewer: City Sewer/Connected Topography: Level Wall Description: Concrete/Block; Drywall Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 399900
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 300
Street Name: 1st
Street Suffix: Street
Street Direction Suffix: S
Postal City: Montgomery
County: Le Sueur
State: MN
Zip Code: 56069
Complex/Dev/Subdivision: City Of Montgomery

Assessments

Tax With Assessments: 6356
Assessment Balance: 0

Building Information

Building Finished SqFt: 5000

More Information

Income and Expenses

Annual Electric Expense: 2880
Annual Fuel Expense: 2676
Annual Gross Income: 58320
Annual Insurance Expense: 6000
Annual Trash Expense: 2040
Annual Water/Sewer Expense: 4020

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
Display Window: Yes

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 500
Paved Lot: Yes

Sale Options

Sale Includes: Building

Unit 1

Unit Number: Yes
Monthly Rent: 950
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Level: 2nd Level
Leased?: Yes
Lease Expiration Date: 2026-12-31
No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 2
Full Baths: Yes
Lease Expiration Date: 2026-11-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1025
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2027-04-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 680
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 650
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: Main Level
Monthly Rent: 805
Total Bathrooms: Yes
Unit Number: 5

Unit 6

Half Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: Main Level
Monthly Rent: 750
Total Bathrooms: Yes
Unit Number: Retail

Unit Details

Total Units: 6

Unit Information

No. of Efficiency Units: Yes

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: CITY OF MONTGOMERY BLOCK-002 LOTS 1-2
Listing City: Montgomery
Map Page: 999
Municipality: Montgomery
School District: Tri-City United
School District Phone: 507-364-8100
Zip Plus 4: 9690
Property ID Number: 224700140
Tax Year: 2026
Tax Amount: 6356
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 8.6% CAP Rate! Fully Occupied. Located in the heart of Montgomery, this versatile mixed-use property at 300 1st Street South offers a rare opportunity for both investors and owner-occupants alike. The building features five residential units, including two 2-bedroom units, two 1-bedroom units, and one studio. In addition, the property boasts a spacious commercial unit, ideal for a business owner or additional income stream. A detached garage adds further value and functionality for tenants or storage. Recent updates enhance both the appeal and long-term value of the property, including fresh paint and new flooring throughout two of the residential units, and a new water heater, making this a turnkey opportunity with key improvements already completed. Whether you're looking to expand your portfolio or secure a property with multiple income streams, this well-maintained building within driving distance to the twin cities offers flexibility, updates, and solid investment potential.
Directions: From the Twin Cities, take US-169 south toward Montgomery. Turn east onto 1st Street South and continue into town. The property at 300 1st Street South will be located on your right.

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

Deck: Yes

Appliances

Disposal: Yes
Range: Yes
Refrigerator: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Flooring

Luxury Vinyl Plank: Yes
Wood: Yes

Foundation

Stone: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Baseboard: Yes
Forced Air: Yes

Internet Options

Cable: Yes
DSL: Yes
Fiber Optic: Yes

Lock Box Type

Combo: Yes

Owner Pays

Lawn: Yes
Maintenance/Repair: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Patio, Porch and Deck Features

Deck: Yes

Roof

Age 8 Years or Less: Yes

Sewer

City Sewer/Connected: Yes

Topography

Level: Yes

Wall Description

Concrete/Block: Yes
Drywall: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Apartments and Retail: Yes

Current Use

Residential: Yes
Retail: Yes

Loan Terms

Cash: Yes
Contract for Deed: Yes
Conventional: Yes
Other: Yes

Location Description

Downtown: Yes

Listing Office: LPT Realty, LLC

Last Updated: June - 06 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.