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About the Listing 12321 - 506015092
Prime Downtown Faribault Commercial & Mixed-Use Opportunity. Discover the possibilities in the heart of downtown Faribault with this versatile commercial property offering a unique opportunity for an owner-user, entrepreneur, or investor. The main-level commercial space is currently vacant and ready for its next chapter, with a layout and location well suited for a variety of business concepts. Previously operated as a restaurant, the space could be ideal for a new dining establishment, retail business, office, personal service, entertainment venue, or even a food-truck operator ready to establish a permanent brick-and-mortar location. Adding to the appeal, the property includes a fully leased apartment above the commercial space, providing immediate rental income while offering the potential for future owner occupancy. The property is zoned Central Business District (CBD), allowing for a broad range of commercial uses, including retail, financial services, office space, personal services, and entertainment. Residential use is also permitted as an accessory use when located above a first-floor commercial use. With its prominent downtown location, flexible zoning, existing rental income, and adaptable commercial space, this property presents an excellent opportunity to establish a business, expand an existing venture, or add a versatile mixed-use asset to your investment portfolio.
Listing Highlights
Interior Details
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: City Water/Connected
Exterior Details
- Garage Capacity: 1 car
- Lot Dimensions: 1x1
- Zoning: Business/Commercial
- Roof:
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Attached Garage
Financial Details
- Tax Amount: $6,284
- Taxes w/Assessments: N/A
- Tax/Property ID: 1831126170
- Tax Year: 2026
Payment Calculator
Monthly Payment
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- in Taxes
Questions About..
508 Central Ave N Faribault, MN 55021
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