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About the Listing 25792 - 499500276
Check out this prime mixed-use opportunity in the heart of downtown Faribault! Unlock the potential of this versatile downtown gem, perfectly positioned in one of Southern Minnesota’s most up-and-coming small towns-just 35 minutes south of the Twin Cities, right off Interstate 35. This mixed-use building offers two main-level commercial spaces. One unit is currently leased with a solid two-year agreement in place, providing immediate income. The second storefront is move-in ready: ideal for an owner-occupant or an easy addition to your investment portfolio. With great foot traffic and charming curb appeal, this space is perfect for a boutique, ice cream shop, yoga/exercise studio, or other small business ventures. Investors, Contractors, Entrepreneurs-this one's for you! Upstairs, the opportunities are endless. With some renovation, the upper level can be restored to its original residential layout, with potential for three studio or one-bedroom apartments, or reconfigured for larger units to meet growing rental demand in the area. The property is currently undergoing a parcel split, which will be completed prior to closing. A shared wall agreement and access to shared water/sewer lines with adjacent parcels will be included. Seller will also install a separation wall upstairs to define private apartment space on the west side. Location, Location, Location! Just steps from the exciting new Viaduct Park development: featuring splash pads, an ice rink, and future attractions & features aimed to increase tourism and local activity. Surrounded by popular restaurants, shops, and ongoing downtown revitalization, this is your chance to plant roots in a community on the rise. Whether you're expanding your business, growing your investment portfolio, or dreaming up your next big idea-this is the kind of opportunity that doesn’t come around often. Schedule your showing today and claim your piece of Faribault’s future!
Listing Highlights
Interior Details
- Bathrooms: 1 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Basement: Full,Unfinished
- Other:
- Water: City Water/Connected
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 45x48
- Zoning: Business/Commercial
- Roof:
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Unassigned
Financial Details
- Tax Amount: $7,984
- Taxes w/Assessments: N/A
- Tax/Property ID: TBD
- Tax Year: 2024
Payment Calculator
Monthly Payment
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- in Taxes
Questions About..
12 3rd St NE Faribault, MN 55021
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