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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!
| TRACT | City/Faribault | YEAR BUILT | 1920 |
|---|---|---|---|
| COUNTY | Rice | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| BASEMENT | Full, Unfinished, Yes |
| CONSTRUCTION | Brick |
| HEAT | Forced Air, Natural Gas |
| LOT | 0.25 acre(s) |
| LOT DIMENSIONS | 45x48 |
| PARKING | Unassigned |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | City/Faribault |
| TAXES | 7984 |
| WATER | Public |
| ZONING | Business/Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
Listed with eXp Realty
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.
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