Map
Listed price in listed location currency (USD).
$1,999,000

000

MLS® 6825253

Overview

Key Facts

Type Business
Levels Commercial Sale
Size -
Garage 
Taxes $27,734
Days Active 314
Lot Size 0.235 Acres
Approx. Age 1872
MLS® Number 6825253

Property Address: 122 S Minnesota Ave, Saint Peter, MN, 56082

Average square foot calculated using Size range provided by listing agent.

Description

THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT, THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL SPACES, 3-STORY ROW HOUSES, AND SECOND & THIRD FLOOR APARTMENTS. THE TOTAL GROSS BUILDING SQUARE FOOTAGE IS JUST OVER 24, 000+. AFTER THE DEVASTATING 1998 TORNADO, A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. THE 2ND & 3RD FLOOR APARTMENTS FEATURE TALL CEILING HEIGHTS AND UPDATED KITCHENS & BATHROOMS. IN THE BACK OF THE PROPERTY THERE ARE FOUR ROW HOUSES EACH WITH UNIQUE LAYOUTS AND SOME WITH THREE STORIES. TWO OF THESE ROW-HOUSES ARE 1BD, 1BA AND THE OTHER TWO ARE 2BD + DEN, 1BA. YOU WILL DEFINITELY WANT TO TOUR THIS BUILDING!! PRO-FORMA NOI $198, 337 / CAP RATE 9.92 %
MLS® Number6825253
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1872
BasementDrain Tiled, Drainage System, Egress Window(s), Finished, Full, Sump Pump
DrivewayOff Site, Parking Lot
Garage Spaces
HeatForced Air
A/CCentral Air, Window Unit(s)

Extras

Building, Land, Leases, Rental License

Map

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties