$325,000
18 2nd ST NE Faribault, MN 55021
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$325,000
Est. payment /mo
5,227 Sqft Lot
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!
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
Parking Type Attached Garage
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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