MN
Nicollet
Saint Peter
56082
122 S Minnesota Avenue
122 S Minnesota Avenue, Saint Peter, MN 56082
Listing Type
Commercial/Industrial
Listing Status
active
41
$1,850,000

Home Details for 122 S Minnesota Avenue

Price
$1,850,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1872
Lot size acres
0.24
County
Nicollet
Garage
Basement
Full, Sump Pump
Days on site
22
MLS Listing#
6671579
Listing Courtesy: Apartment Cash Flow, Inc. - 651-263-3653
Property Description

THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! THERE IS A TOTAL OF 25 UNITS BETWEEN 4 ROW HOMES, 16 APARTMENTS, & 5 RETAIL COMMERCIAL SPACES!! 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 $171,177+ / CAP RATE 9.25 %

Property Features
  • Heating Information
    • Natural Gas
    • Forced Air
  • Basement
    • Full
    • Sump Pump
  • Cooling Information
    • Central Air
  • Water Features
    • Public
  • Parking
    • On Street
NorthstarMLS logo Based on information submitted to the MLS GRID as of 2025-02-14 17:30:43. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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EXIT REALTY - GREAT PLAINS
403 South Broad Street, Suite 40, Mankato, MN 56001
Office
888 446 2973
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