216 Minnesota AVE, Saint Peter, MN 56082 - MLS#6509510

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Nick Leavy

nick@ermetro.com +1(612) 236-5331

$850,000

Est. payment - /mo

6 Beds

8 Baths

6,534 SqFt

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UPDATED:

10/10/2024 07:29 PM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 6,534 sqft

Price per Sqft $130

Subdivision Amended

MLS Listing ID 6509510

Bedrooms 6

Year Built 1890

Annual Tax Amount $8,658

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 44 x 155

Property Description

OPPORTUNITY KNOCKS WITH THIS EIGHT UNIT MIXED-USE BUILDING FOR SALE. THE PROPERTY IS LOCATED IN THE CENTRAL BUSINESS DISTRICT IN DOWNTOWN SAINT PETER, MN. THE MAIN FLOOR HAS TWO LARGER RETAIL AND/OR OFFICE SPACES AND ARE CURRENTLY LEASED. THE SECOND AND THIRD FLOORS FEATURE SIX LOFT STYLE APARTMENTS WITH TALL CEILING HEIGHT AND SOME EXPOSED BRICK. THE EXTERIOR IS ALL BRICK AND HAS RECEIVED ALL NEWER WINDOWS AND BLACK AWNINGS. THERE IS A PARKING LOT IN BACK FOR TENANTS AND ALSO AN ATTACHED GARAGE. THE LOWER LEVEL IS USED FOR STORAGE AND COULD BE AN OPPORTUNITY FOR MORE INCOME WITH YOUR IDEAS. EACH COMMERCIAL TENANT PAYS FOR THEIR OWN UTILITIES INCLUDING EXTRA FOR TRASH. THE RESIDENTS UPSTAIRS ARE RESPONSIBLE FOR PAYING THEIR OWN UNIT ELECTRIC AND OWNER PAYS FOR THE BOILER HEAT, WATER, AND TRASH. IN-PLACE CAP RATE IS CURRENTLY OVER 7.15% WITH ROOM TO RAISE RENTS ORGANICALLY OVER THE NEXT 1-2 YEARS IN A NON RENT CONTROLLED CITY. CALL TO GET MORE FINANCIALS!

Location

State MN

County Nicollet

Community Amended

Direction On Main Street in DT Satin Peter

Interior

Heating Boiler, Forced Air

Cooling Central, Window

Window Features Double Pane Windows,Low Emissivity Windows

Exterior

Parking Features Attached Garage, Driveway - Asphalt

Garage Spaces 1.0

Utilities Available Electric Separate, Heating Common, Heating Separate, Hot Water Common

Roof Type Age Over 8 Years,Flat

Accessibility None

Total Parking Spaces 1

Building

Water City Water/Connected

Structure Type Brick,Frame

Others

Senior Community No

Tax ID 194123860

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Listed by Apartment Cash Flow, Inc.

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