Detroit Lakes, MN Commercial Investment Properties for Sale
Explore commercial real estate investment properties for sale in Detroit Lakes, Minnesota Market population: 9K. Explore income-producing properties with verified cap rates and...
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12 properties found
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⭐ Featured
Strategic Oakland Investment: 5476 Vicente Way in High-Demand 94609 Zip Code
$1,200,000
Oakland
Multifamily
Cap Rate
2.70%
NOI
$32,400
Size
1,800 SF
📊 Avg Property Tax Rate For Detroit Lakes MN Properties: 71.0000%
⭐ Featured
High-Cap-Rate Value-Add Multifamily Investment in Oakland
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,323
Size
6,104 SF
Investor Questions For Detroit Lakes MN
Common questions from investors exploring commercial real estate in Detroit Lakes MN.
What's the overall investment potential of Detroit Lakes, MN?
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With a median household income of $44,318 and a relatively low poverty rate of 12.1%, Detroit Lakes presents a stable investment market, further supported by its high health insurance coverage rate of 95.1% and short average commute time of 18.4 minutes, indicating a reliable and healthy workforce.
How does the local economy impact real estate demand?
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The top industries in Detroit Lakes, including Health Care & Social Assistance, Retail Trade, and Accommodation & Food Services, drive employment and, consequently, housing demand, while the city's low foreign born rate of 1.8% and dominant White population suggest a stable, albeit not highly diverse, community with a median property value of $173,400.
What are the key factors influencing rental yields in Detroit Lakes?
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The combination of a 63.2% homeownership rate, a median property taxes of $2,134, and an average commute time of 18.4 minutes suggests that renters in Detroit Lakes are likely to be stable, long-term tenants, which, paired with the city's low poverty rate and high health insurance coverage, points to favorable rental yields.
How does ethnic diversity and income inequality affect the market?
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Although Detroit Lakes has a low ethnic diversity with White being the dominant ethnicity at 95.6%, its income inequality, measured by a GINI coefficient of 0.42, is relatively low, suggesting a balanced economic landscape that can support a stable real estate market, with the top industries providing a broad base for employment and housing demand.
What role does commute time and health insurance play in market stability?
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The short average commute time of 18.4 minutes and high health insurance coverage rate of 95.1% in Detroit Lakes indicate a population with good access to employment opportunities and healthcare, contributing to a stable workforce and, by extension, a stable real estate market, with the employed population of 4,193 further reinforcing the city's economic viability.
Detroit Lakes MN Real Estate & City Facts
Key facts and real estate information about Detroit Lakes MN.
What are some of the best neighborhoods to live in Detroit Lakes?
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Some of the best neighborhoods to live in Detroit Lakes include South Shore Drive, which is known for its peaceful atmosphere and beautiful lake views, and Detroit Lakes South, which is an excellent choice for retirees. Other neighborhoods to consider are those near the city's public beach and downtown area.
What are some fun things to do in Detroit Lakes?
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There are plenty of fun things to do in Detroit Lakes, including visiting the Shady Hollow Flea Market, which has been in operation for over 50 years, and exploring the Detroit Mountain Recreation Area. You can also enjoy water activities on Detroit Lake, such as swimming, fishing, and boating. Additionally, the city hosts various cultural events throughout the year, including the Street Faire at the Beach.
What is the food scene like in Detroit Lakes?
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The food scene in Detroit Lakes is diverse and offers a range of options, from classic American burgers and tots at Bleachers to good wings at Longbridge. You can also find great dinners and drinks at Lakeside, and Chinese cuisine at Chinese Dragon. For a unique dining experience, try Roasted Pub and Eatery or Mi Cartagena Cafe. There are also plenty of great food trucks and ice cream shops to satisfy your sweet tooth.
What are the pros and cons of living in Detroit Lakes?
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The pros of living in Detroit Lakes include its beautiful natural surroundings, with numerous lakes and outdoor recreation opportunities, as well as a strong sense of community and small-town charm. However, some cons to consider are the limited job opportunities and higher cost of living compared to other cities in the region. Additionally, the city's remote location may make it difficult to access certain amenities and services.
Is Detroit Lakes a good place to live?
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Overall, Detroit Lakes is a great place to live for those who value a close-knit community, outdoor recreation, and a relaxed pace of life. While it may not be the best fit for everyone, particularly those looking for a more urban lifestyle or greater job opportunities, it offers a unique and appealing quality of life that makes it an excellent choice for many people.
⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Apartment Building with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Apartment Building
Cap Rate
7.97%
NOI
$183,300
Size
0 SF
📊 Average Income For Detroit Lakes MN Commercial Property: $44,318
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⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Property with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,324
Size
0 SF
⭐ Featured
Prime 18-Unit Multifamily Investment in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
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⭐ Featured
Prime Value-Add Opportunity: 8-Unit Multifamily Asset in San Fernando, CA
$1,750,000
San Fernando
Multifamily
Cap Rate
6.66%
NOI
$116,550
Size
5,040 SF
⭐ Featured
Prime Valley Village Multifamily: 48-Unit Modern Apartment Complex with 3.39% Cap Rate
$30,000,000
Valley Village
Multifamily
Cap Rate
3.39%
NOI
$1,017,000
Size
52,393 SF
⭐ Featured
Prime San Fernando Multifamily: 5-Unit Value-Add Opportunity with 7.76% Cap Rate
$1,275,000
San Fernando
Multifamily
Cap Rate
7.76%
NOI
$98,945
Size
10,888 SF
⭐ Featured
Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127
$2,450,000
Miami
Multifamily (Condo)
Cap Rate
%
NOI
$0
Size
30,000 SF
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⭐ Featured
Prime Investment Opportunity: 1531 Green St, Philadelphia, PA - Value-Add Multifamily Asset
$1,375,000
Philadelphia
Multifamily
Cap Rate
%
NOI
$0
Size
6,624 SF
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