Mixed-Use Commercial
For Sale
$369,000
508 Central Ave N, Faribault, MN 55021
Vacant main level retail space with a fully leased apartment above in a downtown Central Business District zone.
Days on Market316
Property Features for 508 Central Ave N
General Information
Standard status
Active
Zoning
CBD
Listing Agency:
Edina Realty, Inc.
(507) 323-5236
Listed By:
Kathy Kalow
(507) 323-5236
Source:
Exprealty
Added: Sep 19, 2025
Changed: Jul 27
Last Checked: Jul 31 at 1:18PM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use commercial building at 508 Central Ave N in Faribault features a vacant main level that was formerly operated as a restaurant and a fully leased apartment above. The property is configured as a first-floor commercial space with residential use on the upper level.
Zoned Central Business District (CBD), the building allows for a range of commercial uses, including retail, financial services, office space, personal services, and entertainment. Residential units are also permitted as an accessory use when located above a first-floor commercial use, supporting the existing mixed-use setup.
The combination of a ready-for-tenant first floor and an in-place leased apartment above may fit buyers seeking a downtown property with both commercial and residential components.
Zoned Central Business District (CBD), the building allows for a range of commercial uses, including retail, financial services, office space, personal services, and entertainment. Residential units are also permitted as an accessory use when located above a first-floor commercial use, supporting the existing mixed-use setup.
The combination of a ready-for-tenant first floor and an in-place leased apartment above may fit buyers seeking a downtown property with both commercial and residential components.
Key Highlights
- Former restaurant building with a vacant main‑level commercial space ready for a new business
- Apartment above the commercial space is fully leased
- Zoned Central Business District (CBD) allowing retail, financial services, office space, personal services, and entertainment
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
809
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant main level retail space with a fully leased apartment above in a downtown Central Business District zone.
Where is this residential income property located?
The property is located at 508 Central Ave N Faribault, MN.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Former restaurant building with a vacant main‑level commercial space ready for a new business; Apartment above the commercial space is fully leased; Zoned Central Business District (CBD) allowing retail, financial services, office space, personal services, and entertainment
