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    115 3Rd St Frost, MN 56033

    For Sale
    $150,000

    15 Units, Huge Potential, Needs TLC

    Property size:
    22,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional mixed-use property, located at 115 W 3rd Street in Frost, Minnesota, presents a unique investment opportunity. Spanning 22,000 square feet on a one-acre lot, this property boasts a total of 15 units, a blend of apartments and commercial spaces. Originally a school, the building has been repurposed into its current configuration, offering significant potential for a savvy investor. The property's location offers convenient access to Interstate 90, just two miles away, providing excellent visibility and accessibility. While the property requires some renovations and improvements, the substantial size and the high number of units offer a strong foundation for a lucrative return on investment. The current asking price is $150,000, reflecting the need for work, but also presenting a significant opportunity for value appreciation after renovations. This is an ideal property for an investor looking for a hands-on project with high potential for rental income and future appreciation. The substantial square footage and the strategic location near a major interstate make this a truly compelling opportunity in the thriving Frost, Minnesota market. Serious inquiries are encouraged to explore the full potential of this unique mixed-use property.

    Property Features for 115 3Rd St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    22,000 SF
    Lot Size
    43,560 SF

    Building Details

    Year Built
    1959
    Insight Report Location Intelligence

    Current Use by Public Records

    Frost Apartments Apartment Building J A Insurance Insurance Agency

    Suggested Use

    Restaurant Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Frost
    County
    Faribault
    State
    Minnesota
    Longitude
    -93.92743
    Latitude
    43.58605

    Nearby Comparable

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    Nearby Similar for Sale

    • $80,000
      1.00 Acre

      Frost MN Apartment Building

      15-unit apartment building in Frost, MN, with renovation potential.
      115 W 3Rd St, Frost, MN 56033
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 15 Units, Huge Potential, Needs TLC
    Where is this mixed-use property located?
    The property is located at 115 3Rd St Frost, MN.
    What is the asking price?
    The asking price for this property is $150,000.
    (763) 591-6000
    Request Owner's contact information
    115 3Rd St Frost, MN 56033
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    Frost, MN 56033
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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
    115 3Rd St Frost, MN 56033
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