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Faribault,MN 55021
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
Lot Size 10,890 Sqft
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!
Location
State MN
County Rice
Zoning Business/Commercial
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building
Exterior
Parking Features Unassigned
Utilities Available Electric Separate,Heating Separate,Hot Water Separate
Building
Story Two
Foundation 1890
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District Faribault