MN > Saint Peter > Amended
Saint Peter, MN 56082,122 S Minnesota AVE
Saint Peter, MN 56082,122 S Minnesota AVE
Saint Peter, MN 56082,122 S Minnesota AVE
Saint Peter, MN 56082,122 S Minnesota AVE
Saint Peter, MN 56082,122 S Minnesota AVE
Saint Peter, MN 56082,122 S Minnesota AVE
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Wendy Hanson

Wendy Hanson

+1(612) 840-1531
$ 1,899,000
Est. payment | /mo

10,454 Sqft Lot

Save
$ 1,899,000
Est. payment | /mo
Save

10,454 Sqft Lot

Key Details

Property Type Condo, Commercial

Sub Type Apartment,Mixed Use,Low Rise,Office

Listing Status Active

Purchase Type For Sale

Subdivision Amended

MLS Listing ID 6509744

Year Built 1872

Annual Tax Amount $23,510

Tax Year 2024

Contingent None

Lot Size 10,454 Sqft

Acres 0.24

Lot Dimensions 66 x 155

Property Description

THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL, 3-STORY ROW HOUSES, WITH SECOND AND THIRD FLOOR APARTMENTS. TOTAL GROSS BUILDING SQUARE FOOTAGE JUST OVER 24,000+. JUST AFTER THE DEVASTATING 1998 TORNADO A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, THE WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. BOTH THE MAIN FLOOR AND LOWER LEVEL HAVE LONG STANDING COMMERCIAL TENANTS. THE 2ND & 3RD FLOOR APARTMENTS FEATURE TALL CEILING HEIGHTS AND UPDATED KITCHENS & BATHROOMS. IN THE BACK OF THE PROPERTY THERE ARE FOUR ROW HOUSES EACH WITH UNIQUE LAYOUTS AND SOME WITH THREE STORIES. TWO OF THESE ROW-HOUSES ARE 1BD, 1BA AND THE OTHER TWO ARE 2BD + DEN, 1BA. YOU WILL DEFINITELY WANT TO TOUR THIS BUILDING!! PRO-FORMA NOI $168,897+ / CAP RATE 8.89 %

Location

State MN

County Nicollet

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Basement Finished, Full

Interior

Heating Baseboard, Forced Air

Cooling Central Air

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Garage Paved

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Asphalt,Metal,Rubber

Present Use Office,Residential,Retail

Parking Type Paved

Building

Lot Description Corner Lot

Story Three Or More

Foundation 5400

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick/Stone

Schools

School District St. Peter

Listed by Nathan Opatz • Apartment Cash Flow, Inc.

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122 S Minnesota AVE