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$319,000
Est. payment /mo
0.25 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision City/Faribault
MLS Listing ID 6704864
Year Built 1920
Annual Tax Amount $7,984
Tax Year 2024
Contingent None
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 45x48
Property Description
Check out this prime mixed-use opportunity in the heart of downtown Faribault! Unlock the potential of this versatile downtown gem, perfectly positioned in one of Southern Minnesota's most up-and-coming small towns-just 35 minutes south of the Twin Cities, right off Interstate 35. This mixed-use building offers two main-level commercial spaces. One unit is currently leased with a solid two-year agreement in place, providing immediate income. The second storefront is move-in ready: ideal for an owner-occupant or an easy addition to your investment portfolio. With great foot traffic and charming curb appeal, this space is perfect for a boutique, ice cream shop, yoga/exercise studio, or other small business ventures. Investors, Contractors, Entrepreneurs-this one's for you! Upstairs, the opportunities are endless. With some renovation, the upper level can be restored to its original residential layout, with potential for three studio or one-bedroom apartments, or reconfigured for larger units to meet growing rental demand in the area. The property is currently undergoing a parcel split, which will be completed prior to closing. A shared wall agreement and access to shared water/sewer lines with adjacent parcels will be included. Seller will also install a separation wall upstairs to define private apartment space on the west side. Location, Location, Location!
Just steps from the exciting new Viaduct Park development: featuring splash pads, an ice rink, and future attractions & features aimed to increase tourism and local activity. Surrounded by popular restaurants, shops, and ongoing downtown revitalization, this is your chance to plant roots in a community on the rise. Whether you're expanding your business, growing your investment portfolio, or dreaming up your next big idea-this is the kind of opportunity that doesn't come around often. Schedule your showing today and claim your piece of Faribault's future!
Just steps from the exciting new Viaduct Park development: featuring splash pads, an ice rink, and future attractions & features aimed to increase tourism and local activity. Surrounded by popular restaurants, shops, and ongoing downtown revitalization, this is your chance to plant roots in a community on the rise. Whether you're expanding your business, growing your investment portfolio, or dreaming up your next big idea-this is the kind of opportunity that doesn't come around often. Schedule your showing today and claim your piece of Faribault's future!
Location
State MN
County Rice
Zoning Business/Commercial
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building
Fireplace No
Exterior
Parking Features Unassigned
Utilities Available Electric Separate, Heating Separate, Hot Water Separate
Present Use Other
Building
Story Two
Foundation 1890
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone
Schools
School District Faribault
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Listed by Hailey Warner • eXp Realty