216 Minnesota Ave Saint Peter, MN 56082-2522

This exceptional mixed-use property, located in Saint Peter, Minnesota's central business district, presents a compelling investment opportunity. The 13,376 square foot building, constructed in 1890 and renovated in 1998, boasts a classic three-story brick exterior with newer windows and black awnings. The property comprises eight units: two ground-floor retail/office spaces currently leased, and six loft-style apartments on the upper floors featuring high ceilings and exposed brick in some areas. An attached garage and rear parking lot provide ample tenant parking. The lower level offers additional storage space with potential for income generation. The building sits on a 0.16-acre lot and is zoned commercial. Current occupancy stands at 88%, generating a net operating income (NOI) of $62,109, resulting in a 7.31% cap rate. Individual commercial tenants are responsible for their utilities, including trash removal, while upstairs residents pay for their electricity