MN > Saint Peter > Amended
Saint Peter, MN 56082,216 S Minnesota AVE
Saint Peter, MN 56082,216 S Minnesota AVE
Saint Peter, MN 56082,216 S Minnesota AVE
Saint Peter, MN 56082,216 S Minnesota AVE
Saint Peter, MN 56082,216 S Minnesota AVE
Saint Peter, MN 56082,216 S Minnesota AVE
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Brad Lacher

Brad Lacher

+1(952) 200-1994
$ 890,000
Est. payment | /mo

6,969 Sqft Lot

Save
$ 890,000
Est. payment | /mo
Save

6,969 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Amended

MLS Listing ID 6821093

Year Built 1890

Annual Tax Amount $9,190

Tax Year 2025

Contingent None

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 44 x 155

Property Description

Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional 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 utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 7.60% with a net operating income of $67,669. A new owner has room to improve cash flows by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.

Location

State MN

County Nicollet

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Basement Full

Interior

Heating Boiler, Forced Air

Cooling Window Unit(s)

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Attached Garage, Parking Lot

Garage Spaces 2.0

Utilities Available Electric Separate, Heating Common, Heating Separate, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Commercial,Residential

Building

Story Three Or More

Foundation 3200

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick/Stone

Schools

School District St. Peter

Listed by Nathan Opatz • Apartment Cash Flow, Inc.
Brad Lacher

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(952) 200-1994

brad@greatmnhomes.com

8604 Eagle Creek Cir, Savage, MN, 55378, USA

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216 S Minnesota AVE