122 S Minnesota Avenue, Saint Peter, MN 56082

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122 S Minnesota Avenue, Saint Peter, MN 56082

$1,999,000

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Property Type: Commercial Square Footage: 21,600 Lot Size (sq. ft.): 10,019 Status: Active

Current Price: $1,999,000 List Date: 12/08/2025 Last Modified: 9/07/2026

Overview

Description

THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! 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-FOR ... (Read more)

Listing Details MLS# 6825253

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Waterfront YN: No
Year Built: 1872
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 5400
For Sale or Lease: For Sale
Acres: 0.23
Lot Dimensions: 66 x 155
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Central Air; Window Unit(s) Amenities Unit: Ceiling Fan(s); Tile Floors; Walk-In Closet Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Drain Tiled; Drainage System; Egress Windows; Full; Sump Pump CMU Style: Apartments and Retail; Apartments/Multi Family; Business Opportunity; Mixed Use Construction Materials: Brick Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick/Stone Fencing: None Flooring: Carpet; Tile Foundation: Stone Fuel: Electric; Natural Gas; Oil Heating: Forced Air Internet Options: Cable Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: None Lot Description: Corner Lot On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Insurance; Taxes Parking Characteristics: Parking Lot; Off Site Pool Description: None Potential Use: Income; Office; Professional; Restaurant Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles; Flat; Pitched; Rubber Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV; Electricity; Gas Topography: Level Wall Description: Drywall; Plaster Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 1999000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 122
Street Direction Prefix: S
Street Name: Minnesota
Street Suffix: Avenue
Postal City: Saint Peter
County: Nicollet
State: MN
Zip Code: 56082
Complex/Dev/Subdivision: Amended

Assessments

Tax With Assessments: 27734

Building Information

Building Finished SqFt: 21600
Building SqFt: 21600
Ceiling Height: 11-15

More Information

Income and Expenses

Annual Caretaker Expense: 14814
Annual Fuel Expense: 19408
Annual Gross Expenses: 97954
Annual Gross Income: 296292
Annual Insurance Expense: 7043
Annual Maintenance Expense: 8750
Annual Net Income: 198337
Annual Trash Expense: 3720
Annual Water/Sewer Expense: 4535
Total Annual Expenses: 97954

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units: 14

Unit 2

No. of 2 Bedroom Units: 6

Unit Details

Total Units: 25

Listing Office: Apartment Cash Flow, Inc.

Last Updated: September - 07 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.