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    14/16 3Rd St NE Faribault, MN 55021

    Under Contract
    For Sale
    $399,000

    Commercial - Faribault, MN

    Days on Market:
    120
    Last Refresh:
    Dec 11 at 6:06 am

    Property Features for 14/16 3Rd St NE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    Business/Commercial
    APN
    TBD
    Exterior features
    Brick/Stone

    Utilities

    Heating system
    Hot Water (Heating)

    Building Details

    Year built
    1920
    Architectural style
    Other

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

    Listing agent Hailey M. Warner (612) 751-9303

    Listing date Aug 14, 2025

    MLS# 6727765 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

    Faribault Mixed-Use Investment Opportunity

    Located in downtown Faribault, this mixed-use property presents an investment opportunity with both immediate income and long-term development potential. The property is positioned in a high-visibility location, approximately 35 minutes south of the Twin Cities with direct access to I-35. The main level features two commercial storefronts currently under a two-year lease with a single tenant, delivering stable income. The upper level offers potential for renovation into a large two-bedroom unit plus additional one-bedroom or studio apartments. The property is zoned to support mixed-use development. The building is undergoing a parcel split, which will be completed prior to closing. The location is near the new Viaduct Park development, which features splash pads, a winter ice rink, and future family-friendly attractions, and is surrounded by restaurants, retail shops, and community enhancements. This property is suitable for investors, contractors, or entrepreneurs and offers the flexibility to meet a variety of goals.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    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
    -93.26759427
    Latitude
    44.29365071

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in downtown Faribault with income and development potential.
    Where is this mixed-use property located?
    The property is located at 14/16 3Rd St NE Faribault, MN.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Stable, turn-key income from two commercial storefronts under a strong two-year lease.; - High-visibility location in downtown Faribault, a rapidly growing market.; - Upper level offers immense potential for renovation into multiple residential units.
    (612) 751-9303
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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

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    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
    14/16 3Rd St NE Faribault, MN 55021
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