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Chad Pederson

chad@pedersonrealty.com +1(612) 325-8745

$1,999,000

Est. payment - /mo

10,236 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Amended

MLS Listing ID 6825253

Year Built 1872

Annual Tax Amount $25,434

Tax Year 2025

Contingent None

Lot Size 10,236 Sqft

Lot Dimensions 66 x 155

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 $193,415 / CAP RATE 8.60 %

Location

State MN

County Nicollet

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Basement Drain Tiled, Drainage System, Egress Window(s), Finished, Full, Sump Pump

Interior

Heating Forced Air

Cooling Central Air, Window Unit(s)

Flooring Carpet, Tile

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Off Site, Parking Lot

Fence None

Pool None

Utilities Available Electric Separate, Heating Separate, Hot Water Separate

Roof Type Age Over 8 Years,Asphalt,Flat,Pitched,Rubber

Present Use Residential

Building

Lot Description Corner Lot

Story Three Or More

Foundation 5400

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick

New Construction false

Schools

School District St. Peter

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Listed by Nathan Opatz • Apartment Cash Flow, Inc.

Nearby School & Business

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Chad Pederson

+1(612) 325-8745

Broker | License ID: 20586306

Broker License ID: 20586306

Featured Communities in Minnesota

122 S Minnesota AVE Saint Peter, MN 56082

Chad Pederson

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Nearby School & Business

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