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    12 3Rd St NE Faribault, MN 55021

    For Sale
    $319,000

    Commercial - Faribault, MN

    Lot size:
    0.25 Acres
    Days on Market:
    226
    Last Refresh:
    Dec 5 at 6:06 am

    Property Features for 12 3Rd St NE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Business/Commercial
    APN
    TBD
    Parking features
    Unassigned
    Exterior features
    Brick/Stone
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Flooring type
    Wood
    Architectural style
    Other

    EXP REALTY (612) 751-9303 [email protected]

    Listing agent Hailey M. Warner (320) 500-4397

    Listing date Apr 24, 2025

    MLS# 6704864 Listing URL

    Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building in Downtown Faribault

    Located in downtown Faribault, this mixed-use property offers two main-level commercial spaces. One unit is currently leased under a two-year agreement, providing immediate income. The second storefront is move-in ready. The upper level has the potential to be restored to its original residential layout, with possibilities for three studio or one-bedroom apartments, or reconfigured for larger units. The property is undergoing a parcel split, to be completed prior to closing. A shared wall agreement and access to shared water and sewer lines with adjacent parcels will be included. The seller will install a separation wall upstairs to define private apartment space on the west side. The property is located near the new Viaduct Park development, which features splash pads, an ice rink, and future attractions. It is surrounded by restaurants and shops. The lot size is 0.25 acres.
    Location Intelligence

    Current Use by Public Records

    Forward Transportation Services Medical Clinic Taran Grocery & Deli Deli

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Faribault
    County
    Rice
    State
    Minnesota
    Longitude
    -93.267899
    Latitude
    44.293832

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial spaces and residential potential in Faribault.
    Where is this mixed-use property located?
    The property is located at 12 3Rd St NE Faribault, MN.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: - Prime mixed-use property in downtown Faribault, a rapidly developing small town just 35 minutes from the Twin Cities.; - Immediate income from a leased commercial space with a two-year agreement in place.; - **Second move-in ready storefront suitable for owner-occupancy or investment.**
    (320) 500-4397
    Request Owner's contact information
    12 3Rd St NE Faribault, MN 55021
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    Faribault, MN 55021
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12 3Rd St NE Faribault, MN 55021
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