14 3rd ST NW, Faribault, MN 55021
14 3rd ST NW, Faribault, MN 55021
14 3rd ST NW, Faribault, MN 55021
14 3rd ST NW, Faribault, MN 55021
14 3rd ST NW, Faribault, MN 55021
14 3rd ST NW, Faribault, MN 55021
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Christopher Wold

Christopher Wold

+1(320) 349-0429
$ 1,095,000
Est. payment | /mo

8 Beds

8 Baths

3,267 Sqft Lot

Save
$ 1,095,000
Est. payment | /mo
Save

8 Beds

8 Baths

3,267 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision City/Faribault

MLS Listing ID 7135428

Bedrooms 8

Year Built 1910

Annual Tax Amount $6,336

Tax Year 2026

Contingent None

Lot Size 3,267 Sqft

Lot Dimensions 50x66

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.

Location

State MN

County Rice

Zoning Business/Commercial

Interior

Heating Baseboard

Inclusions Building

Fireplace No

Exterior

Parking Features None

Utilities Available Electric Separate

Present Use Residential,Retail

Building

Story Three Or More

Foundation 1100

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

New Construction false

Schools

School District Faribault

Listed by Lars Anderson • RE/MAX Results

Schools and Properties Nearby

Christopher Wold

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14 3rd ST NW