116 W 1st Street Fairmont, MN $ 209,000
116 W 1st Street
$ 209,000
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116 W 1st Street

Fairmont, MN, 56031
$ 209,000
Baths0.0 Sq 3,600

Monthly Estimate*

$ 1,389

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Studio

Commercial Property for sale in Fairmont, MN

for $209,000. This 3,600 square foot building was built in 1945 on a lot size of 0.15.

Are you looking for an amazing office space with some additional rental income? This downtown building has been tastefully remodeled to keep all of the character of the original building. High tin ceilings and beautiful woodwork are some of the features that make this space so wonderful. The main floor of the building is office space with 4 offices, large conference room, break room with sink and refrigerator, 1/2 bath and a spacious waiting area. The upper level of the building houses 3 apartments and brings in rental income.

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Commercial Pending

Price

$ 209,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 3,188

Style

Lot Size

0.15

Year Built

1945

Town/City

Fairmont

County/Region

Martin

MLS | Web ID

6519329

Features
General
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air Window Unit(s)
Utilities Electric Separate Heating Separate
Roof Rubber
Appliances Range Refrigerator
Garage Spaces 0
Construction Materials Brick/Stone
Year Built 1945
Tenant Pays Cable TV Electricity Gas
Levels Two
Tax Year 2024
Current Use Office Residential
Gross Income 31800
Accessibility Doors 36 + Grab Bars In Bathroom Hallways 42 +
County Martin
Net Operating Income 25212
Operating Expense 6588
Insurance Expense 1800
Property Type Commercial Sale
Association Amenities Coin-op Laundry Owned Concrete Floors & Walls
Contingency None
Subdivision Name Village/Fairmont
Possible Use Office
Directions Heading west on Blue Earth Avenue take a right on North Main and then left on First Street. Building is on the north side of the street.
City Fairmont
Buyer Agent Compensation 2.40
High School District Fairmont Area Schools
Zoning Description Business/Commercial
NumberOfUnitsTotal 4
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 3188
Electric Expense 0
Fuel Expense 0
Trash Expense 600
Water Sewer Expense 0
Additional Parcels Y/N N
Days on Market 65
Standard Status Pending
Lender Owned No
Amenities Unit Ceiling Fan(s) Natural Woodwork Paneled Doors
Buyer Agent Compensation Type %
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Interior
Basement Block Unfinished
Basement (Y/N) Y
Ceiling Height 8-10
Fuel Natural Gas
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Exterior
Parking Features Parking Lot
Water Source City Water/Connected
Inclusions Building Leases
Lot Size Area 0.15
Building Area Total 3600
Lot Dimensions 32x104
Foundation Area 1800
Road Frontage Type City Street Curbs Paved Streets Sidewalks Street Lights Storm Sewer
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 116
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* Excluded Features
List By
Re/Max Total Realty

Broker

vonnie.cone@remax.net

Email

Affordability Calculator

$1,655
Per Month
84%
16%
0%
Monthly Principal & Interest
$1,389
Monthly Property Taxes
$266
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% 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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Nearby
3048826 Elementary School
3048512 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/15/2024$209,000 Listed Price

Map


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116 W 1st Street, Fairmont, MN, 56031 is a Commercial Property for sale at $209,000 with 3,600 sqft and a lot size of 0.15. 116 W 1st Street is a studio with 0.0 baths and was built in 1945. The property's zip code is 56031 which is in Fairmont, MN