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Michael Hunstad - Managing Broker
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(612) 840-1224

14 3rd Street Nw, Faribault, MN 55021

$1,095,000
SQUARE FEET 3,300
MLS# 7135428
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Michael Hunstad - Managing Broker

Michael Hunstad - Managing Broker
Call: (612) 840-1224

STATUS: Active
PROPERTY TYPE: Commercial - Retail
SUBDIVISION: City/Faribault
SCHOOL: Faribault
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Property Description

Investment opportunity in the heart of downtown Faribault. This 9-unit mixed-use property consists of eight renovated residential apartments and one commercial space. The residential units have been extensively renovated with updated kitchens, bathrooms, flooring, and finishes, along with new electric baseboard heat, allowing residents to control and pay for their own heating costs. Additional capital improvements include a newer roof with a transferable warranty and a new fire panel. The commercial space is leased through December 2030, providing in-place income, while the eight renovated residential units are currently vacant, giving the next owner the opportunity to complete lease-up and stabilize the property. Commercial tenant pays their own gas/electric/trash/sewer/internet and is in charge of HVAC maintenance. Convenient downtown location near businesses, restaurants, and services. An opportunity to acquire a substantially improved mixed-use asset with much of the renovation and capital improvement work already completed.

14 3rd Street Nw | MLS# 7135428

This commercial property located at 14 3rd Street Nw, Faribault, MN 55021 is currently listed for sale with an asking price of $1,095,000. 3rd Street Nw is located within the Faribault school district. Search Faribault real estate on www.homesbyhunstad.com today.

Property Features

Property Type: Commercial - Retail
Fuel Type: Natural Gas
Heating: Baseboard
Lot Size: 0.08 Acres
Stories: 3.0
Taxes: $6,336
Year Built: 1910

Feature Descriptions

Current Use: Residential, Retail
Foundation Size: 1100
Lot Dimensions: 50x66
Owners Expense: Common Area Maintenance, Sewer, Trash Collection, Water
Parcel#: 1831126282
Parking: None
Sale Includes: Building
Sewer: City Sewer/Connected
Tenant Expenses: All Utilities, Electricity, Gas
Units: 9
Utilities: Electric Separate
Water: City Water/Connected

Local Schools

School District: Faribault

Listed By / Shown By

Listed By

Agency Name: RE/MAX Results
Agency Phone: 612-314-1520

Shown By

Agent Name: Michael Hunstad - Managing Broker
Agent Phone: (612) 840-1224
Agency Title: Counselor Realty

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Michael Hunstad - Managing Broker
Michael Hunstad - Managing Broker Office: (763) 231-5006 Cell: (612) 840-1224 Fax: (763) 427-8623 Email Me


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