For Sale: Faribault MLS# 6621286
Active
$325,000
Commercial: Mixed Use,Business
Built 1900
0.12 acres
Faribault schools
MLS# 6621286
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Property Description
Discover an exceptional investment opportunity in the heart of historic downtown Faribault, a vibrant and rapidly growing city conveniently located off I-35. This unique property places you right amidst charming restaurants, local retail shops, and scenic parks and trails. Faribaultâ??s lively community and the soon-to-be-opened Viaduct Parkâ??featuring a splash pad, skating area, concessions, and gathering spacesâ??make this an ideal spot to house and grow your business and also your rental portfolio.
Find endless potential here as the main floor which currently functions as a retail & event space, but would be perfect for a number of different small business types. Perhaps a boutique shop, ice cream parlor, beauty service day spa, a unique office space, a small restaurant, or specialty candy store...bring your ideas! The space can easily adapt to match your vision, whatever it may be. An occupied one-bedroom apartment on the upper floor offers the option for either short-term rental, benefiting from the nearby wedding venue, or a stable long-term rental income. With extremely low vacancy rates in Faribault, the residential unit is a prime investment feature. Options of converting 600 sq ft of the rear main floor into a rental studio, would allow you to maintain a storefront while securing additional rental revenue.
This rare find includes an attached garage and a private green space, combining the best of downtown accessibility with a touch of nature. The property is perfect for an entrepreneur looking to invest in a thriving area with multiple revenue streams. Seize this unique opportunity to be part of Faribaultâ??s growth and bring your business or investment ideas to life!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$325,000
Property Type:
Commercial
City:
Faribault
Garage Spaces:
1
County:
Rice
Year Built:
1900
State:
MN
Property Style:
Mixed Use, Business
Zip Code:
55021
Subdivision Name:
City/Faribault
Interior
Basement Details:
Unfinished
Exterior
Stories:
Two
Garage Spaces:
1
Other Parking Spaces:
6
Air Conditioning:
Central Air
Foundation Size:
1,232 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Forced Air
- Space Heater
Parking Features:
Attached Garage
Unit Amenities:
Deck
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.12
Geolocation:
44.292779, -93.267466
Inclusions:
Building, Land
Lot Dimensions:
43 x 114
Zoning:
Business/Commercial
Schools
School District:
656
District Phone:
507-333-6016
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$2,842
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,842
Income
Annual Gross Income:
$20,400
Units
Total Units:
3
Miscellaneous
Current Use:
- Event Space
- Residential
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of eXp Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.