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$399,000
Est. payment /mo
Active
14/16 3rd ST NE Faribault, MN 55021
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6727765
Year Built 1920
Annual Tax Amount $7,772
Tax Year 2025
Contingent None
Lot Dimensions 50x66
Property Description
Downtown Faribault Investment Opportunity – Mixed-Use Property with Income & Upside!
Discover this exceptional investment opportunity in the vibrant heart of downtown Faribault—an emerging destination just 35 minutes south of the Twin Cities with direct access to I-35. Positioned in a high-visibility location within one of Southern Minnesota's fastest-growing small-town markets, this mixed-use building offers both immediate cash flow and long-term development potential.
The main level features two commercial storefronts, currently under a strong two-year lease with a single tenant—delivering stable, turn-key income from day one. Whether you're an investor seeking reliable returns, a contractor with vision, or an entrepreneur looking for your next venture, this property offers the flexibility to meet a variety of goals.
The upper level presents a blank canvas with immense potential. With the right renovation, it could be transformed into a large two-bedroom unit plus additional one-bedroom or studio apartments—perfect for tapping into the area's rising rental demand. Zoned and situated to support mixed-use development, the property is ideal for anyone looking to contribute to Faribault's dynamic downtown revitalization.
The building is currently undergoing a parcel split, which will be completed prior to closing, ensuring a smooth path forward for the next owner. Just steps from the new Viaduct Park development—an exciting public space featuring splash pads, a winter ice rink, and future family-friendly attractions—this location is surrounded by popular restaurants, retail shops, and ongoing community enhancements.
Whether you're growing your investment portfolio, launching a new business, or reimagining the space for residential income, this is a rare opportunity to plant roots in a town on the rise. Properties with this kind of potential—and prime location—don't come around often.
Schedule your showing today and explore the possibilities!
Discover this exceptional investment opportunity in the vibrant heart of downtown Faribault—an emerging destination just 35 minutes south of the Twin Cities with direct access to I-35. Positioned in a high-visibility location within one of Southern Minnesota's fastest-growing small-town markets, this mixed-use building offers both immediate cash flow and long-term development potential.
The main level features two commercial storefronts, currently under a strong two-year lease with a single tenant—delivering stable, turn-key income from day one. Whether you're an investor seeking reliable returns, a contractor with vision, or an entrepreneur looking for your next venture, this property offers the flexibility to meet a variety of goals.
The upper level presents a blank canvas with immense potential. With the right renovation, it could be transformed into a large two-bedroom unit plus additional one-bedroom or studio apartments—perfect for tapping into the area's rising rental demand. Zoned and situated to support mixed-use development, the property is ideal for anyone looking to contribute to Faribault's dynamic downtown revitalization.
The building is currently undergoing a parcel split, which will be completed prior to closing, ensuring a smooth path forward for the next owner. Just steps from the new Viaduct Park development—an exciting public space featuring splash pads, a winter ice rink, and future family-friendly attractions—this location is surrounded by popular restaurants, retail shops, and ongoing community enhancements.
Whether you're growing your investment portfolio, launching a new business, or reimagining the space for residential income, this is a rare opportunity to plant roots in a town on the rise. Properties with this kind of potential—and prime location—don't come around often.
Schedule your showing today and explore the possibilities!
Location
State MN
County Rice
Zoning Business/Commercial
Interior
Heating Hot Water
Inclusions Building, Leases
Fireplace No
Exterior
Parking Features On-Street Parking Only
Utilities Available Electric Separate, Heating Separate, Hot Water Separate
Present Use Commercial,Residential
Building
Story Two
Foundation 1472
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone
Schools
School District Faribault
Listed by Hailey Warner • eXp Realty