For Sale: Faribault MLS# 6727765
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Property Description
Downtown Faribault Investment Opportunity – Mixed-Use Property with Income & Upside!
Discover this exceptional investment opportunity in the vibrant heart of downtown Faribault—an emerging destination just 35 minutes south of the Twin Cities with direct access to I-35. Positioned in a high-visibility location within one of Southern Minnesota’s fastest-growing small-town markets, this mixed-use building offers both immediate cash flow and long-term development potential.
The main level features two commercial storefronts, currently under a strong two-year lease with a single tenant—delivering stable, turn-key income from day one. Whether you're an investor seeking reliable returns, a contractor with vision, or an entrepreneur looking for your next venture, this property offers the flexibility to meet a variety of goals.
The upper level presents a blank canvas with immense potential. With the right renovation, it could be transformed into a large two-bedroom unit plus additional one-bedroom or studio apartments—perfect for tapping into the area’s rising rental demand. Zoned and situated to support mixed-use development, the property is ideal for anyone looking to contribute to Faribault’s dynamic downtown revitalization.
The building is currently undergoing a parcel split, which will be completed prior to closing, ensuring a smooth path forward for the next owner. Just steps from the new Viaduct Park development—an exciting public space featuring splash pads, a winter ice rink, and future family-friendly attractions—this location is surrounded by popular restaurants, retail shops, and ongoing community enhancements.
Whether you're growing your investment portfolio, launching a new business, or reimagining the space for residential income, this is a rare opportunity to plant roots in a town on the rise. Properties with this kind of potential—and prime location—don’t come around often.
Schedule your showing today and explore the possibilities!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$399,000
Property Type:
Commercial
City:
Faribault
Garage Spaces:
0
County:
Rice
Year Built:
1920
State:
MN
Property Style:
2 Stories
Zip Code:
55021
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Foundation Size:
1,472 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
On-Street Parking Only
Exterior Material:
Brick/Stone
Lot & Land
Geolocation:
44.2936507092, -93.2675942727
Inclusions:
Building, Leases
Lot Dimensions:
50 x 66
Zoning:
Business/Commercial
Schools
School District:
656
District Phone:
507-333-6016
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,772
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$7,772
Income
Annual Gross Income:
$38,400
Units
Total Units:
5
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
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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.