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Pending:  Saint Peter MLS# 6819062

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Pending
$695,000
/mo Edit
Commercial:  2 Stories
3 br • 6 ba • Built 1887
0.084 acres
MLS# 6819062
763-576-8286
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    Property Description

    THIS DOWNTOWN ICONIC SAINT PETER MINNESOTA PROPERTY OFFERS INVESTORS AN OPPORTUNITY TO ACQUIRE A UNIQUE ALL BRICK AND KASOTA LIMESTONE FIVE-UNIT MIXED-USE PROPERTY!! THE BUILDING FEATURES TWO LARGE MAIN FLOOR RETAIL UNITS. ERBERTS & GERBERTS IS ONE OF THESE ANCHOR TENANTS AND HAS A LONG LEASE IN PLACE. THE SECOND FLOOR FEATURES TWO OVERSIZED LOFT STYLE APARTMENTS WITH TALL CEILINGS. THE LOWER LEVEL IS LEASED TO A GOOD STANDING LONG TERM TENANT. THE WHOLE ASSET IS FULLY LEASED AND IN TURN-KEY CONDITION!! AMAZING EXTERIOR CURB APPEAL. MOST UTILITIES ARE PAID BY TENANTS. ROOF IS 1998 AND WINDOWS HAVE BEEN REPLACED. IN-PLACE CAP RATE OF 7.5% WITH NET OPERATING INCOME OF $52, 081 - CALL FOR MORE FINANCIALS.

    Listing

    Listing Status: Pending
    Contingency: None
    List Price: $695,000
    Property Type: Commercial
    City: Saint Peter
    Garage Spaces: 0
    County: Nicollet
    Year Built: 1887
    State: MN
    Property Style: 2 Stories
    Zip Code: 56082
    Subdivision Name: Amended

    Interior

    Bedrooms: 3
    Bathrooms: 6
    Ceiling Height: 8-10
    Flooring: Carpet, Tile, Wood
    Refrigerators: One Per Unit
    Appliances Included:
    • Range
    • Refrigerator
    Basement Details:
    • Finished
    • Full
    • Single Tenant Access

    Exterior

    Stories: Two
    Garage Spaces: 0
    Air Conditioning: Central Air
    Foundation Size: 3,640 ft2
    Foundation Dimensions: 40 x 91
    Fencing: None
    Handicap Accessible: None
    Road Responsibility: Public Maintained Road
    Heating System: Forced Air
    Parking Features: None
    Road Frontage:
    • City Street
    • Curbs
    • Paved Streets
    Exterior Material:
    • Brick
    • Stone
    Pool: None
    Roof Details: Flat

    Lot & Land

    Acres: 0.084
    Geolocation: 44.324423, -93.957398
    Inclusions: Building, Land, Leases, Rental License
    Lot Dimensions: 40 x 91
    Zoning:
    • Business/Commercial
    • Residential-Multi-Family
    Lot Description: Corner Lot

    Farm

    Topography: Level

    Schools

    School District: 1871
    District Phone: 5079345703

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $4,874
    Annual Maintenance Expense: None
    Annual Trash Expense: None
    Annual Water/Sewer Expense: $1,023
    Tenant Expenses: Electricity, Gas, Trash Collection, Water

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $10,376
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $10,376

    Income

    Annual Gross Income: $70,104

    Rent

    Annual Net Income: $52,081

    Units

    Total Units: 5

    Miscellaneous

    Current Use:
    • Commercial
    • Residential
    • Retail
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Separate
    • Hot Water Common
    Water System: City Water/Connected

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Apartment Cash Flow, Inc..
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.