216 S Minnesota AVE, Saint Peter, MN 56082 - MLS#6509510

Saint Peter, MN 56082,216 S Minnesota AVE

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Brandon Anderson

brandon@brandonanderson.com +1(612) 490-0638

$850,000

Est. payment - /mo

6,969 Sqft Lot

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UPDATED:

10/10/2024 07:31 PM

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

Contingent None

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 44 x 155

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

Rooms

Basement Full

Interior

Heating Boiler, Forced Air

Cooling Central Air, Window Unit(s)

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

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

Present Use Commercial,Office,Residential,Retail

Parking Type Attached Garage, Asphalt

Building

Story Three Or More

Foundation 3080

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick/Stone

Schools

School District St. Peter

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Listed by Nathan Opatz • Apartment Cash Flow, Inc.

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Brandon Anderson

+1(612) 490-0638

Agent | License ID: 40180683

Agent License ID: 40180683