818 4Th St Faribault, MN 55021
- Warehouses
- 2,400 SF
- 1.17 lot acres
Current Use by Public Records
- Midwest Flats / Apartment Building
- Midwest Indoor Storage - Faribault / Storage Facility
Property Details for 818 4Th St
- Year built
- 1920
- Lot size
- 1.17 lot acres
- Property size
- 2,400 SF
- Property type
- Warehouses
- APN
- 18.31.2.27.001
- APU
- 1831227001
Description
This exceptional 1.17-acre parcel of land presents a remarkable opportunity for residential development in the thriving city of Faribault, Minnesota. Located at 818 4th St NW, this property boasts a prime location within Rice County, conveniently situated with easy access to local amenities and infrastructure. The lot is zoned for residential use, allowing for the construction of various housing types. The asking price for this exceptional property is $1,800,000. The property's APN is 1831227002. Importantly, the city has already approved a Tax Increment Financing (TIF) district for future multi-family housing (MFH) development, significantly streamlining the development process and potentially reducing costs for the future owner. This pre-approved TIF designation makes this land particularly attractive for investors seeking to capitalize on the growing demand for residential housing in Faribault. The 1.17-acre size offers considerable flexibility in design and development plans, allowing for a variety of residential projects. This is a rare opportunity to acquire a well-situated, city-approved development site in a desirable Minnesota location. The property's zip code is 55021. This is a truly exceptional opportunity for developers seeking a prime location for their next residential project.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Faribault
- County
- Rice
- State
- Minnesota
- Longitude
- -93.2822
- Latitude
- 44.2952
- CBSA code
- 22060
- CBSA name
- FARIBAULT-NORTHFIELD, MN MICROPOLITAN STATISTICAL AREA
