Twitter
Facebook
Email
|
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.
| TRACT | State | YEAR BUILT | 1973 |
|---|---|---|---|
| GARAGE SPACES | 2.0 | COUNTY | Rice |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Aug 11, '25 | $715,000 |
|---|---|
| Aug 11, '25 - Today | $675,000 |
| ADDITIONAL DETAILS | |
| AIR | Ductless |
|---|---|
| AIR CONDITIONING | Yes |
| BASEMENT | Block, Yes |
| CONSTRUCTION | Vinyl Siding |
| GARAGE | Yes |
| HEAT | Natural Gas |
| LOT | 0.49 acre(s) |
| LOT DIMENSIONS | 1x1 |
| PARKING | Detached, Asphalt, Garage Door Opener, Paved |
| SEWER | Public Sewer |
| SUBDIVISION | State |
| TAXES | 8266 |
| WATER | Public |
| ZONING | Residential-Multi-Family |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
P
I
*Estimate only
Listed with Edina Realty, Inc.
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. All real estate listings are marked with the Broker ReciprocitySM logo, and detailed information about them includes the name of the listing brokers.
Information deemed reliable but not guaranteed.
Copyright 2025 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
DMCA Notice
This IDX solution is (c) Diverse Solutions 2025.
| SATELLITE VIEW |
| / | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Matt
Steeves to contact you even if your name is on a Federal or State
"Do not call List".