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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Tom Ott

Tom Ott

+1(612) 701-7474
$ 1,850,000
Est. payment | /mo

10,454 Sqft Lot

Save
$ 1,850,000
Est. payment | /mo
Save

10,454 Sqft Lot

Key Details

Property Type Condo, Commercial

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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agent
Tom Ott

REALTOR® | Lic# 590400

+1(612) 701-7474

7449 80th St S, Cottage Grove, MN, 55016, USA

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122 S Minnesota AVE