122 S Minnesota Avenue, Saint Peter, MN 56082

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Waterfront Present: 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
Garage Stalls: 0

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: 2250000
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: 25434
Assessment Balance: 0

Building Information

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

More Information

Income and Expenses

Annual Caretaker Expense: 14434
Annual Fuel Expense: 19408
Annual Gross Expenses: 95274
Annual Gross Income: 288690
Annual Insurance Expense: 7043
Annual Maintenance Expense: 8750
Annual Net Income: 193415
Annual Trash Expense: 3720
Annual Water/Sewer Expense: 4535
Total Annual Expenses: 95274
Annual Electric Expense: 0

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

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: BLOCK 177 LOT 4 SUBDIVISIONCD 19412 SUBDIVISIONNAME AMENDED PLAT
Listing City: Saint Peter
Map Page: 999
Municipality: Saint Peter
School District: St. Peter
School District Phone: 507-934-5703
Zip Plus 4: 159
Property ID Number: 194123672
Tax Year: 2025
Tax Amount: 25434
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 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-FORMA NOI $193,415 / CAP RATE 8.60 %
Directions: Located on Main Street in downtown Saint Peter, MN

Accessible

None: Yes

Air Conditioning

Central Air: Yes
Window Unit(s): Yes

Amenities Unit

Ceiling Fan(s): Yes
Tile Floors: Yes
Walk-In Closet: Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Drain Tiled: Yes
Drainage System: Yes
Egress Windows: Yes
Full: Yes
Sump Pump: Yes

Construction Materials

Brick: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Brick/Stone: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Tile: Yes

Foundation

Stone: Yes

Fuel

Electric: Yes
Natural Gas: Yes
Oil: Yes

Heating

Forced Air: Yes

Internet Options

Cable: Yes

Lock Box Type

None: Yes

Lot Description

Corner Lot: Yes

Owner Pays

Insurance: Yes
Taxes: Yes

Parking Characteristics

Parking Lot: Yes
Off Site: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Asphalt Shingles: Yes
Flat: Yes
Pitched: Yes
Rubber: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Topography

Level: Yes

Wall Description

Drywall: Yes
Plaster: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes
Gas: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Apartments and Retail: Yes
Apartments/Multi Family: Yes
Business Opportunity: Yes
Mixed Use: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Downtown: Yes

Potential Use

Income: Yes
Office: Yes
Professional: Yes
Restaurant: Yes

Rent Rate per Foot

Per Month: Yes