Renovated Mixed-Use
New
For Sale
$1,095,000
14 3rd St NW, Faribault, MN 55021
Downtown asset combines upgraded apartments with a leased commercial component.
Property Size3,300 SF
Price / SF$331.82
Days on Market2
Property Features for 14 3rd St NW
General Information
Standard status
Active
Size
3,300 SF
Additional Details
Multifamily Units
8
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
RE/MAX Results
Listed By:
Lars Anderson
(651) 497-1666
Source:
Searchhousesnow
Added: Sep 5
Last Checked: Sep 5 at 3:10PM
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 Results
Investment Insights
Based on property information with market context.
This mixed-use property at 14 3rd St NW includes 9 units: eight renovated apartments and one commercial space. Apartment improvements include refreshed kitchens, bathrooms, flooring, finishes, and electric baseboard heat, allowing residents to manage their own heating costs. A newer roof with a transferable warranty and a new fire panel add to the capital improvements completed at the property.
The commercial space is leased through December 2030, while the eight residential apartments are vacant and available for lease-up. The commercial tenant is responsible for its gas, electric, trash, sewer, and internet costs, along with HVAC maintenance. The property is located in downtown Faribault near businesses, restaurants, and services.
The commercial space is leased through December 2030, while the eight residential apartments are vacant and available for lease-up. The commercial tenant is responsible for its gas, electric, trash, sewer, and internet costs, along with HVAC maintenance. The property is located in downtown Faribault near businesses, restaurants, and services.
Key Highlights
- 9‑unit mixed‑use property with 8 renovated apartments and 1 commercial space
- Renovated kitchens, bathrooms, flooring, finishes, and electric baseboard heat in the apartments
- Commercial space leased through December 2030
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
893
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 Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown asset combines upgraded apartments with a leased commercial component.
Where is this mixed-use property located?
The property is located at 14 3rd St NW Faribault, MN.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 9‑unit mixed‑use property with 8 renovated apartments and 1 commercial space; Renovated kitchens, bathrooms, flooring, finishes, and electric baseboard heat in the apartments; Commercial space leased through December 2030
