514 Main Street E, New Prague, MN 56071 - Photo 1

1/1

$550,500

Sold
Closed
Commercial
5,000 Sq. Ft.
1.34 Acres
Updated 11 days ago

1/1

Property Description

Great investment property. Recently refurbished, 7 units total, include one 3-bedroom, five 1-bedrooms and a studio. Large 2 stall detached garage/workshop w/11 storage units available. All units currently under leases-cash flow is positive. Zoned High-Density Residential (RH1). Good for townhouses and apartments. Conditional use nursing home/assisted living facility. Property is located on high visibility parcel on the main east/west thoroughfare through New Prague. Site provides plenty of parking and has New Prague Park in its back yard.

Full Property Details

Full Property Details for 514 Main St E

General

Sold For: $550,500
Taxes: $6,434 (2025)
Status: Closed
Type: Commercial
Source: NorthStarMLS_RMLS
MLS ID: 7082202
Added to Site: 76 day(s) ago

Parking

Garage: Yes
Garage Description: 26 x 50
Garage Spaces: 3
Parking Features: Detached Garage, Gravel, Concrete, Shared Driveway, Parking Lot

School Information

School District: 721 - New Prague Area Schools
High School District: New Prague Area Schools

Heating & Cooling

Cooling Type: Window Unit(s)
Heating Type: Boiler, Forced Air
Heating Fuel: Natural Gas

Utilities

Sewer: City Sewer in Street
Water: City Water (In-Street)
Utility Description: Electric Separate, Heating Common, Hot Water Common

Financial Considerations

Operating Expenses: $36,222
Tax Amount: $6,434
Tax Year: 2025
Owner Pays: Fuel, Gas, Heat, Hot Water, Repairs
Tenant Pays: Electricity
Pays Electric: Tenant Pays
Pays Gas: Owner Pays
Pays Heat: Owner Pays
Pays Water: Owner Pays

Disclosures and Reports

Legal Description: SECT-03 TWP-112 RANGE-023 1.34 AC COMM AT NE COR OF NE 1/4, TH W 814.55 FT TO POB, TH S 416.6 FT, W 70.01 FT, S 1.3 FT, W 3.01 FT, N 135.09 FT, W 97.66 FT, N 283.17 FT, E 167.78 FT TO BEG
Inclusions: Rental License
Property ID: 230032540

Listed by Metro Group Real Estate
Sold by Bridge Realty, LLC

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— 514 Main St E —

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Schools

Schools serving 514 Main St E

School District:New Prague Area Schools

Name	Grades	Distance
Central Education Campus 405 1st Avenue Northwest, New Prague, MN 56071	K-PK	0.6 mi
Raven Stream Elementary School 300 11th Avenue Northwest, New Prague, MN 56071	K-5	1.5 mi
New Prague Middle School 721 Central Avenue North, New Prague, MN 56071	6-8	0.6 mi
New Prague Senior High School 221 12th Street Northeast, New Prague, MN 56071	9-12	1.2 mi

Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 514 Main St E

Date

Details

Price

Change

Source

7/31/2026

Sold

$550,500

-5.88%

MLS

5/28/2026

Listed

$584,900

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Lots/Land
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Updated 5 days ago

66.57
Acres

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Single Family
Closed

5
Beds
4
Total Baths
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Sq. Ft.

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Beds
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Total Baths
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Sold

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Single Family
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4
Beds
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Total Baths
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$527,500

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Single Family
Closed

5
Beds
3
Total Baths
3,295
Sq. Ft.

Listed by RE/MAX Advantage Plus
Sold by Edina Realty, Inc.

514 Main Street E, New Prague, MN 56071 (MLS# 7082202) is a Commercial property that was sold at $550,500 on July 31, 2026. Want to learn more about 514 Main Street E? Do you have questions about finding other Commercial real estate for sale in New Prague? You can browse all New Prague real estate or contact a Coldwell Banker agent to request more information.

514 Main St E New Prague, MN 56071