216 S Minnesota AVE Active Save Request In-Person Tour Request Virtual Tour
Saint Peter,MN 56082
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Amended
MLS Listing ID 6509510
Year Built 1890
Annual Tax Amount $8,658
Tax Year 2024
Lot Size 6,969 Sqft
Property Description
OPPORTUNITY KNOCKS WITH THIS EIGHT UNIT MIXED-USE BUILDING FOR SALE. THE PROPERTY IS LOCATED IN THE CENTRAL BUSINESS DISTRICT IN DOWNTOWN SAINT PETER, MN. THE MAIN FLOOR HAS TWO LARGER RETAIL AND/OR OFFICE SPACES AND ARE CURRENTLY LEASED. THE SECOND AND THIRD FLOORS FEATURE SIX LOFT STYLE APARTMENTS WITH TALL CEILING HEIGHT AND SOME EXPOSED BRICK. THE EXTERIOR IS ALL BRICK AND HAS RECEIVED ALL NEWER WINDOWS AND BLACK AWNINGS. THERE IS A PARKING LOT IN BACK FOR TENANTS AND ALSO AN ATTACHED GARAGE. THE LOWER LEVEL IS USED FOR STORAGE AND COULD BE AN OPPORTUNITY FOR MORE INCOME WITH YOUR IDEAS. EACH COMMERCIAL TENANT PAYS FOR THEIR OWN UTILITIES INCLUDING EXTRA FOR TRASH. THE RESIDENTS UPSTAIRS ARE RESPONSIBLE FOR PAYING THEIR OWN UNIT ELECTRIC AND OWNER PAYS FOR THE BOILER HEAT, WATER, AND TRASH. IN-PLACE CAP RATE IS CURRENTLY OVER 7.15% WITH ROOM TO RAISE RENTS ORGANICALLY OVER THE NEXT 1-2 YEARS IN A NON RENT CONTROLLED CITY. CALL TO GET MORE FINANCIALS!
Location
State MN
County Nicollet
Zoning Business/Commercial,Residential-Multi-Family
Interior
Heating Boiler,Forced Air
Cooling Central Air,Window Unit(s)
Inclusions Building,Land,Leases,Rental License
Exterior
Garage Attached Garage,Asphalt
Garage Spaces 1.0
Utilities Available Electric Separate,Heating Common,Heating Separate,Hot Water Common
Roof Type Age Over 8 Years,Flat
Building
Story Three Or More
Foundation 3080
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District St. Peter