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
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$1,850,000
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122 S Minnesota AVE Saint Peter, MN 56082

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Condos Condos

Condos Condos

+1(612) 502-7653

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Key Details

Property Type Condo

Sub Type Apartment,Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Amended

MLS Listing ID 6671579

Year Built 1872

Annual Tax Amount $23,510

Tax Year 2025

Contingent None

Lot Size 10,454 Sqft

Acres 0.24

Lot Dimensions 66 x 155

Property Sub-Type Apartment,Mixed Use

Property Description

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 %

Location

State MN

County Nicollet

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Basement Drain Tiled, 8 ft+ Pour, Full, Stone/Rock, Sump Pump

Interior

Heating Forced Air

Cooling Central Air

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features On-Street Parking Only

Utilities Available Electric Separate, Heating Separate, Hot Water Common

Roof Type Age Over 8 Years,Asphalt,Flat

Present Use Commercial,Residential,Retail

Building

Lot Description Corner Lot, Tree Coverage - Light

Story Three Or More

Foundation 6000

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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Condos Condos

+1(612) 502-7653

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122 S Minnesota AVE

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