Property Listing
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!
Property Information
Status: Active
Sub Type: ********
List Price: $850,000
MLS#: 6509510
Current Price: $850,000
Address: 216 S Minnesota Avenue, Saint Peter, MN 56082
City: Saint Peter
State: MN
Postal Code: 56082
Geo Lat: 44.324628
Geo Lon: -93.957366
Subdivision: Amended
County: Nicollet
Property Description
Year Built: 1890
Lot Size SqFt: 6534
Gen Tax: 8658
Specials Inst: 0
High School: ********
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: ********
Style: ********
Total Bedrooms: 6
Total Bathrooms: 8
Total Full Baths: ********
Garage Type:
Garage Stalls: 1
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain:
Interior Amenities:
Inclusions: Building, Land, Leases, Rental License
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: