$ 699,900
-
$699,900
Price -
12,800
SqFt -
0.16
Acre
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About the Listing 27376 - 506069385
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 10.13% with a net operating income of $70,890. A new owner has room to improve cash flow 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.
Interior Details
- Appliances: Range, Refrigerator
- Air Cond: Central Air,Window Unit(s)
- Heating: Boiler,Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Basement: Full
- Other:
- Water: City Water/Connected
Exterior Details
- Garage Capacity: 2 car
- Lot Dimensions: 44 x 155
- Zoning: Business/Commercial,Residential-Multi-Family
- Roof: Age Over 8 Years,Flat
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Attached Garage,Parking Lot
Financial Details
- Tax Amount: $9,690
- Taxes w/Assessments: N/A
- Tax/Property ID: 194123860
- Tax Year: 2026
Payment Calculator
Monthly Payment
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- in Taxes
Questions About..
216 S Minnesota Ave Saint Peter, MN 56082
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