Downtown Faribault Office Building
For Sale
$850,000
118 1st Avenue NE, Faribault, MN 55021
High-visibility office building in historic downtown Faribault, Minnesota.
Property Size6,450 SF
Days on Market106
Property Features for 118 1st Avenue NE
General Information
Standard status
Active
Size
6,450 SF
Property subtype
Commercial
Zoning
Business/Commercial
Taxes and HOA fees
Annual Taxes
$12,862
Building Details
Building Size
6,450 SF
Year Built
1900
Stories
1
Units
10
Listing Agency:
RE/MAX Experts
(507) 330-3035
Listed By:
James E. Barta
(507) 330-3035
Source:
Ivyrealestategroup
Added: May 11
Changed: Aug 23
Last Checked: Aug 23 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Experts
Investment Insights
Based on property information with market context.
Located in historic downtown Faribault, Minnesota, this office building presents an investment opportunity. The property, situated 35 minutes south of the Twin Cities on I-35, underwent a significant capital investment in 2015, resulting in a top-to-bottom transformation. The building features warm brick, signature red awnings, generous windows, and a professionally finished interior. Recent electrical updates and additional commercial improvements have also been completed. The building comprises nine leased suites with renewing tenants and one available suite. Shared conference and reception areas, a front ramp entry, off-street asphalt parking, and prominent pole signage are present. The property is located near restaurants, boutiques, and the Paradise Center for the Arts. Viaduct Park, featuring a splash pad, fire pit, and indoor gathering areas, is located across the street. The building is suited for investors seeking reliable returns or entrepreneurs with a bold vision for the space.
Key Highlights
- High‑visibility office building in revitalizing downtown Faribault, offering reliable income and future growth potential.
- Substantial 2015 top‑to‑bottom renovation ensures a modern, well‑maintained property attractive to tenants.
- Strong occupancy with nine leased suites and renewing tenants, providing a stable income stream.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 55021, MN
30,636
Population
12,421
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
90%
High-School Grad
177.0 sq mi
ZIP Area
173
Density / Sq Mi
$70,296
Median Household Income
$39,914
Median Earnings
$1,044
Median Rent
$267,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - High-visibility office building in historic downtown Faribault, Minnesota.
Where is this office building located?
The property is located at 118 1st Avenue NE Faribault, MN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High‑visibility office building in revitalizing downtown Faribault, offering reliable income and future growth potential.; Substantial 2015 top‑to‑bottom renovation ensures a modern, well‑maintained property attractive to tenants.; Strong occupancy with nine leased suites and renewing tenants, providing a stable income stream.
