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    St. Peter Victorian 4-Plex Title is generated by Realmo AI

    804 S 4th Street, St Peter, MN 56082

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    Claim this Listing
    For Sale
    $389,000

    MULTI_FAMILY - St. Peter, MN

    Property size:
    3,008 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $129/SF
    Added:
    Mar 2, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 804 S 4th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 3, Bathroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 1, Bathroom 4
    Patio and Porch features
    Deck, Porch
    Exterior features
    Deck, Porch
    Basement
    Partially Finished
    Standard status
    Active
    APN
    19.412.1840
    Size
    3,008 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Block 141 "EX SLY 60.13'" Lot 7, 8, & 9 SubdivisionCd 19412 SubdivisionName AMENDED PLAT
    Tax Annual Amount
    5354

    Utilities

    Heating system
    Oil

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    4
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    RICH DRAHEIM
    RICH DRAHEIM

    Listing agent RICH DRAHEIM License #20561513

    Listing office WEICHERT REALTORS, COMMUNITY GROUP 300 St. Andrews Drive Suite 110, Mankato, MN

    Listing date Mar 2, 2026

    MLS# 7039546 Listing URL

    Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑generating 4‑plex with all units currently leased
    • Significant recent updates including new steel siding and new roof (Nov. 2023)
    • Prime location: one block from Minnesota Square Park, close to Gustavus College, and walking distance to downtown amenities
    • Updated appliances, including a new water heater (2019) and new dryer (2023)
    • Historic building with Victorian charm
    • Potential to add garages (subject to city approval)

    Overview

    This historic 4-plex, located in St. Peter, features Victorian charm and is situated one block from Minnesota Square Park, near Gustavus College, and within walking distance of downtown amenities. The building has undergone several updates, including new steel siding and a new roof installed in November 2023. A new chimney with a cement cap was added in October 2021, along with a new stainless steel chimney liner from the top of the chimney to the furnace in May 2021. All appliances have been replaced within the last 6 years, and a new water heater was installed in 2019. A coin-operated washer and dryer are located in the basement, with a new dryer added in 2023. The windows are aluminum combination storm windows. The property spans 3,008 square feet on a 0.25-acre lot. There may be room behind the building to add garages, pending city approval. The units are currently leased.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    St Peter
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.964123
    Latitude
    44.321059

    Nearby Similar for Sale

    • $6,650,000

      Mixed-Use Highway Investment Opportunity

      Fully actualized mixed-use property with owner/user potential.
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    • Contact for pricing
      11,256 SF

      St. Peter Multi-Tenant Office

      Multi-tenant office space near Gustavus Campus and St. Peter Highschool.
      622 Sunrise Dr, St Peter, MN
      View Details

    FAQs

    What type of property is this?
    Quadplex - Historic 4-plex near downtown St. Peter and Gustavus College.
    Where is this quadplex located?
    The property is located at 804 S 4th Street St Peter, MN.
    What is the asking price?
    The asking price for this property is $389,000.
    What are key features of this property?
    This property features: Income‑generating 4‑plex with all units currently leased; Significant recent updates including **new steel siding** and **new roof (Nov. 2023)**; Prime location: **one block from Minnesota Square Park**, close to Gustavus College, and walking distance to downtown amenities
    (507) 381-0808
    We can help!
    Listing Contact
    RICH DRAHEIM
    RICH DRAHEIM
    Real Estate License ID: 20561513
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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