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Property Description
THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT, THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL SPACES, 3-STORY ROW HOUSES, AND SECOND & THIRD FLOOR APARTMENTS. THE TOTAL GROSS BUILDING SQUARE FOOTAGE IS JUST OVER 24,000+. AFTER THE DEVASTATING 1998 TORNADO, A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. THE 2ND & 3RD FLOOR APARTMENTS FEATURE TALL CEILING HEIGHTS AND UPDATED KITCHENS & BATHROOMS. IN THE BACK OF THE PROPERTY THERE ARE FOUR ROW HOUSES EACH WITH UNIQUE LAYOUTS AND SOME WITH THREE STORIES. TWO OF THESE ROW-HOUSES ARE 1BD, 1BA AND THE OTHER TWO ARE 2BD + DEN, 1BA. YOU WILL DEFINITELY WANT TO TOUR THIS BUILDING!! PRO-FORMA NOI $198,337 / CAP RATE 9.92 %
Property Features
Property Type: Commercial - Business
Basement: Yes
Cooling: Central Air, Window Unit(s)
Fuel Type: Electric, Natural Gas, Oil
Heating: Forced Air
Lot Size: 0.24 Acres
Roof Type: Age Over 8 Years, Asphalt, Flat, Pitched, Rubber
Stories: 3.0
Taxes: $27,734
Year Built: 1872
Feature Descriptions
Appliances: Range, Refrigerator
Basement: Drain Tiled, Drainage System, Egress Window(s), Finished, Full, Sump Pump
Current Use: Residential
Days on Site: 288
Exterior: Brick
Foundation Size: 5400
Lot: Corner Lot
Lot Dimensions: 66 x 155
Owners Expense: Insurance, Taxes
Parcel#: 194123672
Parking: Off Site, Parking Lot
Road Frontage: City Street
Sale Includes: Building, Land, Leases, Rental License
Sewer: City Sewer/Connected
Tenant Expenses: Broadband, Cable TV, Electricity, Gas
Units: 25
Utilities: Electric Separate, Heating Separate, Hot Water Separate
Water: City Water/Connected
Local Schools
School District: St. Peter
Listed By / Shown By
Listed By
Agency Name: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653
Shown By
Agency Title: Counselor Realty
Agency Phone: 612-405-8404
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122 S Minnesota Avenue | MLS# 6825253
This commercial property located at 122 S Minnesota Avenue, Saint Peter, MN 56082 is currently listed for sale with an asking price of $1,999,000. S Minnesota Avenue is located within the St. Peter school district. Search Saint Peter real estate on www.counselorrealty.com today.