$319,000
12 3rd Street NE Faribault, MN 55021
For Sale MLS# 7012006
Other
Details for 12 3rd Street NE
MLS# 7012006
Description for 12 3rd Street NE, Faribault, MN, 55021
Check out this prime mixed-use opportunity in the heart of downtown Faribault! Unlock the potential of this versatile downtown gem, perfectly positioned in one of Southern Minnesota’s most up-and-coming small towns-just 35 minutes south of the Twin Cities, right off Interstate 35. This mixed-use building offers two main-level commercial spaces. One unit is currently leased with a solid two-year agreement in place, providing immediate income. The second storefront is move-in ready: ideal for an owner-occupant or an easy addition to your investment portfolio. With great foot traffic and charming curb appeal, this space is perfect for a boutique, ice cream shop, yoga/exercise studio, or other small business ventures. Investors, Contractors, Entrepreneurs-this one's for you! Upstairs, the opportunities are endless. With some renovation, the upper level can be restored to its original residential layout, with potential for three studio or one-bedroom apartments, or reconfigured for larger units to meet growing rental demand in the area. The property is currently undergoing a parcel split, which will be completed prior to closing. A shared wall agreement and access to shared water/sewer lines with adjacent parcels will be included. Seller will also install a separation wall upstairs to define private apartment space on the west side. Location, Location, Location! Just steps from the exciting new Viaduct Park development: featuring splash pads, an ice rink, and future attractions & features aimed to increase tourism and local activity. Surrounded by popular restaurants, shops, and ongoing downtown revitalization, this is your chance to plant roots in a community on the rise. Whether you're expanding your business, growing your investment portfolio, or dreaming up your next big idea-this is the kind of opportunity that doesn’t come around often. Schedule your showing today and claim your piece of Faribault’s future!
Listing Information
Property Type: Commercial
Status: Active
Bathrooms: 1
Lot Size: 0.25 Acres
Square Feet: 3,780 sq ft
Year Built: 1920
Foundation: 1,890 sq ft
Stories: 2 Stories
Subdivision: City/Faribault
Number Of Units Total: 5
Current Use: Other
County: Rice
Days On Market: 42
Construction Status: Previously Owned
School Information
District: 656 - Faribault
Interior Features
Flooring: Wood
Basement: Full, Unfinished
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Separate,Hot Water Separate
Cooling: Central
Heating: Natural Gas, Forced Air
Exterior / Lot Features
Open Parking: 2
Parking Description: Unassigned
Exterior: Brick/Stone
Lot Dimensions: 45x48
Zoning: Business/Commercial
Additional Exterior/Lot Features: Land Inclusions - Building, Road Frontage - City, Curbs, Street Lights, Storm Sewer, Paved Streets, Sidewalks
Driving Directions
Highway 21 South to 4th Street NW/Hwy 60 East to Central Avenue, Right on Central Ave South to 3rd Street NE, left to property on the left.
Financial Considerations
Tenant Pays: All Utilities
Gross Income: 15600
Tax/Property ID: TBD
Tax Amount: 7984
Tax Year: 2024
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: eXp Realty
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 12 3rd Street NE
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 12 3rd Street NE
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Data powered by ATTOM Data Solutions. Copyright© 2026. 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.
Coming soon properties will soon be on the market, but are not yet available for showings.