$890,000
216 S Minnesota Avenue Saint Peter, MN 56082
For Sale MLS# 6821093
Other
Details for 216 S Minnesota Avenue
MLS# 6821093
Description for 216 S Minnesota Avenue, Saint Peter, MN, 56082
Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional 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 utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 7.60% with a net operating income of $67,669. A new owner has room to improve cash flows by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.
Listing Information
Property Type: Commercial
Status: Active
Lot Size: 0.16 Acres
Square Feet: 12,800 sq ft
Year Built: 1890
Foundation: 3,200 sq ft
Garage: Yes
Stories: Three Or More
Subdivision: Amended
Number Of Units Total: 8
Current Use: Commercial,Residential
County: Nicollet
Days On Market: 23
Construction Status: Previously Owned
School Information
District: 508 - St. Peter
Interior Features
Appliances: Range, Refrigerator
Flooring: Wood
Basement: Full
Doors/Windows: Double Pane Windows, Aluminum Frames
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Common,Heating Separate,Hot Water Common
Cooling: Window
Heating: Boiler, Forced Air, Natural Gas
Exterior / Lot Features
Attached Garage: Attached Garage
Garage Spaces: 2
Open Parking: 6
Parking Description: Attached Garage, Parking Lot
Exterior: Brick/Stone
Roof: Age Over 8 Years, Flat
Lot Dimensions: 44 x 155
Zoning: Business/Commercial,Residential-Multi-Family
Topography: Level
Additional Exterior/Lot Features: Land Inclusions - Building,Land,Leases,Rental License, Road Frontage - City, Sidewalks
Driving Directions
Main Street downtown St. Peter, MN
Financial Considerations
Tenant Pays: Electric,Fuel,Trash
Owner Pays: Insurance,Repairs,Taxes,Water
Gross Income: 118922
Expense: 51253
Tax/Property ID: 194123860
Tax Amount: 9190
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Apartment Cash Flow, Inc.
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 216 S Minnesota Avenue
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 216 S Minnesota Avenue
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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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