122 S Minnesota AVE new Save Request In-Person Tour Request Virtual Tour
Saint Peter,MN 56082
Key Details
Property Type Condo, Commercial
Sub Type Apartment,Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Amended
MLS Listing ID 6671579
Year Built 1872
Annual Tax Amount $23,510
Tax Year 2025
Contingent None
Lot Size 10,454 Sqft
Acres 0.24
Lot Dimensions 66 x 155
Property Sub-Type Apartment,Mixed Use
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 %
Location
State MN
County Nicollet
Zoning Business/Commercial,Residential-Multi-Family
Rooms
Basement Drain Tiled,8 ft+ Pour,Full,Stone/Rock,Sump Pump
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building,Land,Leases,Rental License
Fireplace No
Appliance Range,Refrigerator
Exterior
Parking Features On-Street Parking Only
Utilities Available Electric Separate,Heating Separate,Hot Water Common
Roof Type Age Over 8 Years,Asphalt,Flat
Present Use Commercial,Residential,Retail
Building
Lot Description Corner Lot,Tree Coverage - Light
Story Three Or More
Foundation 6000
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
Structure Type Brick/Stone
Schools
School District St. Peter