508 Central Avenue N Faribault, MN 55021
For Sale MLS# 6787785
Other
Listed by: Edina Realty, Inc.
Details for 508 Central Avenue N
MLS# 6787785
Description for 508 Central Avenue N, Faribault, MN, 55021
Prime Downtown Faribault Commercial Opportunity. Situated in the heart of downtown Faribault, this versatile commercial property offers exceptional potential. Formerly operating as a restaurant, the main level is currently vacant and ready for a new business venture. Above the commercial space is a fully leased apartment, providing steady rental income or the option for owner occupancy. Zoned Central Business District (CBD), this property allows for a wide range of uses including retail, financial services, office space, personal services, and entertainment. Residential units are also permitted as an accessory use when located above a first-floor commercial use. Whether you're looking to launch a new business, transition your food truck into a brick-and-mortar location, or invest in a mixed-use property, this is a rare opportunity with unlimited potential.
Listing Information
Property Type: Commercial
Status: Active
Lot Size: 0.16 Acres
Square Feet: 3,300 sq ft
Year Built: 1910
Foundation: 1,920 sq ft
Garage: Yes
Subdivision: City/Faribault
Number Of Units Total: 2
Current Use: Vacant
County: Rice
Days On Market: 175
Construction Status: Previously Owned
School Information
District: 656 - Faribault
Interior Features
Accessibility: Grab Bars In Bathroom, Fully Wheelchair, Doors 36+
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Separate
Cooling: Central
Heating: Forced Air, Natural Gas
Exterior / Lot Features
Attached Garage: Attached Garage
Garage Spaces: 1
Parking Description: Attached Garage, Garage Sq Ft - 350.0
Exterior: Brick/Stone
Lot Dimensions: 1x1
Zoning: Business/Commercial
Additional Exterior/Lot Features: Land Inclusions - Building, Road Frontage - City
Driving Directions
From Fourth Street (Highway 60} turn North on Central Avenue From Interstate 35W take Highway 21 exit turn East on Seventh St NW turn South on Central Ave.
Financial Considerations
Other Annual Tax: $200
Tax/Property ID: 1831126170
Tax Amount: 5706
Tax Year: 2025
HomeStead Description: Non-Homesteaded
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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 508 Central Avenue N
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 508 Central Avenue N
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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.
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