Walker, MN 56484
$1,175,000
Property Type:
Commercial
Lot Size (sq. ft.):
65,340
Status:
Active
Current Price:
$1,175,000
List Date:
2/26/2026
Last Modified:
7/25/2026
Listing Details MLS# 7021063
General Property Information
- Lot Measurement
- Acres
- Management Company Name
- Five Star Vacay
- Multiple PIDs?
- No
- Other Parking Spaces
- 14
- Owner Occupied
- No
- Road Btwn WF & Home?
- Yes
- Waterfront YN
- No
- Year Built
- 1950
- Yearly/Seasonal
- Yearly
- Zoning
- Business/Commercial, Residential-Multi-Family
- Foundation Size
- 5233
- Garage Stalls
- 6
- Lake/Waterfront Name
- Leech
- For Sale or Lease
- For Sale
- Acres
- 1.5
- Lot Dimensions
- 365x188x201x272
- Assessment Pending
- No
Property Features
Accessible:
Other
Air Conditioning:
Wall Unit(s)
CMU Style:
Apartments/Multi Family; Common Wall
Construction Status:
Previously Owned
Current Use:
Commercial; Other; Residential
Exterior:
Wood
Foundation:
Slab
Fuel:
Electric; Propane
Heating:
Baseboard
Internet Options:
Fiber Optic
Lake Details:
Excellent Sand; Gravel; Hard
Loan Terms:
Cash; Conventional
On Site Utilities:
Electric Common; Heating Common
Owner Pays:
All Utilities
Parking Characteristics:
Parking Lot
Potential Use:
Income; Other
Road Frontage:
City Street; State Road
Road Responsibility:
Public Maintained Road
Roof:
Age 8 Years or Less; Asphalt Shingles
Sewer:
City Sewer/Connected
Stories:
One
Water:
City Water/Connected
Waterfront Type:
Lake View
Waterfront View:
Lake
Contract Information
- Contingency
- None
- ListPrice
- 1175000
- Owner is an Agent?
- Yes
- Auction?
- No
Location Tax and Other Information
- Postal City
- Walker
- County
- Cass
- State
- MN
- Zip Code
- 56484
- Complex/Dev/Subdivision
- Commercial Clubs 1st Add
Assessments
- Tax With Assessments
- 4534
- Assessment Balance
- 0
Building Information
- Building Finished SqFt
- 5233
More Information
Income and Expenses
- Annual Gross Expenses
- 63525
- Annual Gross Income
- 150058
- Annual Net Income
- 86533
Lake Details
- Lake Acres
- 103039
- Lake Chain Acreage
- 117774
- Lake Chain Name
- Leech
- Lake Depth
- 150
- Excellent Sand
- Yes
- Gravel
- Yes
- Hard
- Yes
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Public Survey Info
- Range#
- 31
- Section#
- 23
- Township#
- 142
Sale Options
- Sale Includes
- Building, Business
Unit 1
- No. of 1 Bedroom Units
- 10
Unit 3
- No. of 3 Bedroom Units
- Yes
Unit Details
- Total Units
- 14
Unit Information
- No. of Efficiency Units
- 3
Office/Member Info
- Association
- GLAR
Location, Tax and Other Information
- Legal Description
- PART OF LOT 1, BLK 6 COMMERCIAL CLUB 1ST ADDN
- Listing City
- Walker
- Map Page
- 999
- Municipality
- Walker
- School District
- Walker-Hackensack-Akeley
- School District Phone
- 218-547-4201
- DNR Lake ID#
- 11020300
- DNR Lake Classification
- General Development
- Zip Plus 4
- 3105
- Property ID Number
- 963510611
- Tax Year
- 2025
- Tax Amount
- 3477
- In Foreclosure?
- No
- Potential Short Sale?
- No
- Lender Owned?
- No
Directions & Remarks
- Public Remarks
- Exceptional investment opportunity in Walker, Minnesota overlooking the shores of Leech Lake. This fully remodeled 14-unit apartment property offers immediate income potential with a cap rate over 7%, along with making it one of northern Minnesota’s most desirable lake destinations. The unit mix includes one spacious 3-bedroom, 1-bath apartment, ten 1-bedroom, 1-bath apartments, and three efficiency units. All units have been recently renovated, delivering modern finishes, updated interiors, and turnkey appeal for both long-term tenants and short-term guests. Three units are currently operating as Airbnb rentals, creating diversified revenue streams and strong seasonal income potential driven by year-round tourism. The property’s elevated setting provides scenic lake views and easy access to Walker’s vibrant downtown, known for its local shops, dining, marina access, and recreational opportunities. Residents and guests enjoy proximity to boating, fishing, snowmobiling, and trail systems that make this region a consistent draw for visitors. Located just a short drive from Park Rapids and Nevis, the property benefits from steady regional traffic and a strong vacation rental market anchored by Leech Lake’s reputation as a premier outdoor destination. The extensive remodel reduces immediate capital expenses while positioning the asset for stable cash flow and long-term appreciation. Ideal for investors seeking a turnkey, mixed-use rental strategy in a high-demand lake market, this property combines location, modernization, and income diversity in one compelling package.
- Directions
- From downtown Walker, go 3 blocks south on MN-371 and the property will be on the right.
Accessible
- Other
- Yes
Air Conditioning
- Wall Unit(s)
- Yes
Construction Status
- Previously Owned
- Yes
Exterior
- Wood
- Yes
Foundation
- Slab
- Yes
Fuel
- Electric
- Yes
- Propane
- Yes
Heating
- Baseboard
- Yes
Internet Options
- Fiber Optic
- Yes
Owner Pays
- All Utilities
- Yes
Parking Characteristics
- Parking Lot
- Yes
Road Frontage
- City Street
- Yes
- State Road
- Yes
Road Responsibility
- Public Maintained Road
- Yes
Roof
- Age 8 Years or Less
- Yes
- Asphalt Shingles
- Yes
Sewer
- City Sewer/Connected
- Yes
Stories
- One
- Yes
Water
- City Water/Connected
- Yes
Waterfront Type
- Lake View
- Yes
Waterfront View
- Lake
- Yes
On Site Utilities
- Electric Common
- Yes
- Heating Common
- Yes
CMU Style
- Apartments/Multi Family
- Yes
- Common Wall
- Yes
Current Use
- Commercial
- Yes
- Other
- Yes
- Residential
- Yes
Loan Terms
- Cash
- Yes
- Conventional
- Yes
Potential Use
- Income
- Yes
- Other
- Yes
Listing Office:
Coldwell Banker Realty
Last Updated: July - 25 - 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.