1150 3rd Street SW Faribault, MN 55021
Active Contingent MLS# 6701607
5,950 sq ft Commercial
Listed by: Edina Realty, Inc.
Details for 1150 3rd Street SW
MLS# 6701607
Description for 1150 3rd Street SW, Faribault, MN, 55021
Endless Potential in Prime Faribault Location – Ideal for Student Housing, Assisted Living, or Hospitality Use.Positioned directly across from South Central College’s Faribault Campus, this versatile property presents a rare opportunity for a wide range of commercial or residential applications. Previously utilized as both an assisted living facility and a group home, the building is perfectly suited for conversion into student housing, a small boutique hotel, or other multi-tenant residential or service-oriented use.Zoned R-4, the property supports a variety of higher-density residential or institutional uses, giving investors and developers the flexibility to realize their vision. A newly installed roof (Spring 2025), well-maintained mechanical systems, and an ADA-compliant handicap ramp from the parking area to the upper level make this an accessible and functional space right from day one.Whether you're looking to expand your portfolio in the healthcare, housing, or hospitality sectors, this property is a solid investment with outstanding location benefits, strong infrastructure, and room for creative development. The sky truly is the limit.
Listing Information
Property Type: Commercial, Apartments/Multi Family
Status: Active Contingent-Other
Lot Size: 0.49 Acres
Square Feet: 5,950 sq ft
Year Built: 1973
Foundation: 2,975 sq ft
Garage: Yes
Subdivision: State
Number Of Units Total: 16
Current Use: Residential
County: Rice
Days On Market: 248
Construction Status: Previously Owned
School Information
District: 656 - Faribault
Interior Features
Basement: Concrete Block
Accessibility: Wheelchair Ramp, Fully Wheelchair
Additional Interior Features: Washer/Dryer Hookup
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Common,Heating Common,Hot Water Common
Cooling: Ductless Mini-Split
Heating: Ductless Mini-Split, Natural Gas, Boiler
Exterior / Lot Features
Garage Spaces: 2
Open Parking: 7
Parking Description: Garage Door Opener, No Int Access to Dwelling, Detached Garage, Driveway - Asphalt, Paved Lot
Exterior: Vinyl
Roof: Age 8 Years or Less
Lot Dimensions: 1x1
Zoning: Residential-Multi-Family
Fencing: Chain Link, Full
Additional Exterior/Lot Features: Tree Coverage - Light, Land Inclusions - Building, Road Frontage - City
Driving Directions
From Lyndale Ave South turn East on Division Street West turn South on Prairie Ave turn East on Third St SW
Financial Considerations
Other Annual Tax: $240
Tax/Property ID: 1836400003
Tax Amount: 8266
Tax Year: 2025
HomeStead Description: Non-Homesteaded
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 1150 3rd Street SW
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 1150 3rd Street SW
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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