Homes for sale - 18 2nd ST NE, Faribault, MN 55021

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Chris Rains

chris@chrisrains.com +1(612) 599-0372

$325,000

Est. payment - /mo

5,227 Sqft Lot

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UPDATED:

10/28/2024 02:12 PM

Key Details

Property Type Commercial

Sub Type Mixed Use,Business

Listing Status Active

Purchase Type For Sale

Subdivision City/Faribault

MLS Listing ID 6621286

Year Built 1900

Annual Tax Amount $2,842

Tax Year 2024

Contingent None

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 43x114

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. Faribault?s lively community and the soon-to-be-opened Viaduct Park?featuring a splash pad, skating area, concessions, and gathering spaces?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 Faribault?s growth and bring your business or investment ideas to life!

Location

State MN

County Rice

Zoning Business/Commercial

Rooms

Basement Unfinished

Interior

Heating Forced Air, Space Heater

Cooling Central Air

Inclusions Building, Land

Fireplace No

Exterior

Garage Attached Garage

Garage Spaces 1.0

Utilities Available Electric Common, Heating Common, Hot Water Common

Present Use Event Space,Residential,Retail

Building

Story Two

Foundation 1232

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

Structure Type Brick/Stone

Schools

School District Faribault

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Listed by Hailey Warner • eXp Realty

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Chris Rains

+1(612) 599-0372

Broker Associate | License ID: 20579687

Broker Associate License ID: 20579687

18 2nd ST NE Faribault, MN 55021

Chris Rains

Chris Rains

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

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