$1,850,000
122 S Minnesota Avenue Saint Peter, MN 56082
For Sale MLS# 6671579
24,000 sq ft Commercial
Details for 122 S Minnesota Avenue
MLS# 6671579
Description for 122 S Minnesota Avenue, Saint Peter, MN, 56082
THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! THERE IS A TOTAL OF 25 UNITS BETWEEN 4 ROW HOMES, 16 APARTMENTS, & 5 RETAIL COMMERCIAL SPACES!! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT, THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL SPACES, 3-STORY ROW HOUSES, AND SECOND & THIRD FLOOR APARTMENTS. THE TOTAL GROSS BUILDING SQUARE FOOTAGE IS JUST OVER 24,000+. AFTER THE DEVASTATING 1998 TORNADO, A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. 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 $171,177+ / CAP RATE 9.25 %
Listing Information
Property Type: Commercial, Apartments/Multi Family,Apartments and Retail
Status: Active
Lot Size: 0.24 Acres
Square Feet: 24,000 sq ft
Year Built: 1872
Foundation: 6,000 sq ft
Stories: Three Or More
Subdivision: Amended
Number Of Units Total: 25
Current Use: Commercial,Residential,Retail
County: Nicollet
Days On Market: 35
Construction Status: Previously Owned
School Information
District: 508 - St. Peter
Interior Features
Appliances: Range, Refrigerator
Flooring: Carpet,Luxury Vinyl Plank,Vinyl/Linoleum
Basement: Stone, Sump Pump, Drain Tiled, Full
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Separate,Hot Water Common
Cooling: Central
Heating: Forced Air, Natural Gas
Exterior / Lot Features
Open Parking: 16
Parking Description: On-Street Parking Only
Exterior: Brick/Stone
Roof: Age Over 8 Years, Asphalt Shingles, Flat
Lot Dimensions: 66 x 155
Zoning: Business/Commercial,Residential-Multi-Family
Additional Exterior/Lot Features: Corner Lot, Tree Coverage - Light, Land Inclusions - Building,Land,Leases,Rental License, Road Frontage - City, Paved Streets
Driving Directions
Main Street Downtown St.Peter
Financial Considerations
Tenant Pays: Broadband,Cable T.V.,Electric
Owner Pays: Fuel,Insurance,Water
Gross Income: 264936
Expense: 93758
Tax/Property ID: 194123672
Tax Amount: 23510
Tax Year: 2025
HomeStead Description: Non-Homesteaded
Price Changes
| Date | Price | Change |
|---|---|---|
| 02/14/2025 04.37 PM | $1,850,000 |
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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 122 S Minnesota Avenue
Sales History
| Date | Price | Change |
|---|---|---|
| Currently not available. | ||
Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
|---|---|---|
| Currently not available. | ||
Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 122 S Minnesota Avenue
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Data powered by ATTOM Data Solutions. Copyright© 2025. 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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