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122 S Minnesota Avenue Saint Peter, MN $ 2,200,000
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$ 2,200,000 Get more info
122 S Minnesota Avenue
$ 2,200,000
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122 S Minnesota Avenue

Saint Peter, MN, 56082
$ 2,200,000
Baths0.0 Sq 24,000

Monthly Estimate*

$ 15,368

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Studio

Commercial Property for sale in Saint Peter, MN

for $2,200,000. This 24,000 square foot building was built in 1872 on a lot size of 0.24.

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, 3-STORY ROW HOUSES, WITH SECOND AND THIRD FLOOR APARTMENTS. TOTAL GROSS BUILDING SQUARE FOOTAGE JUST OVER 24,000+. JUST AFTER THE DEVASTATING 1998 TORNADO A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, THE WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. BOTH THE MAIN FLOOR AND LOWER LEVEL HAVE LONG STANDING COMMERCIAL TENANTS. 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 2

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Commercial Active

Price

$ 2,200,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 23,510

Style

Apartment,Mixed Use,Low Rise,Office

Lot Size

0.24

Year Built

1872

Town/City

Saint Peter

County/Region

Nicollet

MLS | Web ID

6509744
Features
General
Sewer City Sewer/Connected
Heating Baseboard Forced Air
Utilities Electric Separate Heating Common Hot Water Common
Roof Age Over 8 Years Asphalt Metal Rubber
Appliances Range Refrigerator
Garage Spaces 0
Construction Materials Brick/Stone
Year Built 1872
Tenant Pays Electricity
Topography Level
Levels Three Or More
Property SubType Apartment Mixed Use Low Rise Office
Tax Year 2024
Current Use Office Residential Retail
Gross Income 270619
Accessibility None
County Nicollet
Net Operating Income 176861
Operating Expense 93758
Insurance Expense 7043
Property Type Commercial Sale
Contingency None
Subdivision Name Amended
Possible Use Office Professional Service Restaurant Retail Shop Investment Motel/Hotel
Directions Downtown Saint Peter
City Saint Peter
Buyer Agent Compensation 1.00
Land Lease Amount 400
High School District St. Peter
Zoning Description Business/Commercial Residential-Multi-Family
Total Units 25
Street Name Minnesota
Land Lease Y/N Y
Tax Annual Amount 23510
Electric Expense 2000
Fuel Expense 15000
Trash Expense 3720
Water Sewer Expense 4535
Additional Parcels Y/N N
Days on Market 19
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Interior
Basement Finished Full
Basement (Y/N) Y
Street Suffix Avenue
Ceiling Height 11-15
Foundation Dimensions 45 x 120
Fuel Natural Gas
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Exterior
Parking Features Paved
Lot Features Corner Lot
Water Source City Water/Connected
Inclusions Building Land Leases Rental License
Lot Size Area 0.24
Building Area Total 24000
Lot Dimensions 66 x 155
Lot Size Units Acres
Foundation Area 5400
Road Frontage Type City Street
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 122
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* Excluded Features
List By
Apartment Cash Flow, Inc.

Broker

nopatz@apartmentcashflow.com

Email

Affordability Calculator

$17,327
Per Month
89%
11%
0%
Monthly Principal & Interest
$15,368
Monthly Property Taxes
$1,959
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW!
Nearby
709425 Elementary School
708956 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/9/2024$2,200,000 -2.22% Price Down
3/27/2024$2,250,000 Listed Price

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122 S Minnesota Avenue, Saint Peter, MN, 56082 is a Commercial Property for sale at $2,200,000 with 24,000 sqft and a lot size of 0.24. 122 S Minnesota Avenue is a studio with 0.0 baths and was built in 1872. The property's zip code is 56082 which is in Saint Peter, MN

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