Technical
Financial
Distress signals
Property profile

222 3rd NW Ave Faribault, MN 55021

OFF-MARKET
Office Spaces
Property ID
US46-1242994
3,184 SF 0.23 ac lot Built 1926
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 11,596 square foot, all-brick commercial building presents a rare opportunity in the heart of Faribault, Minnesota. Situated just one block from city and county government buildings, this historic property boasts a prime downtown location with immense potential for diverse uses. The building features updated windows and a newer roof, ensuring both aesthetic appeal and structural integrity. Accessibility is a key feature, with the main level offering convenient, stair-free access. This level includes three offices, expansive gathering spaces complete with a fireplace, a gymnasium equipped with a performance stage, a dedicated meeting room, and a fully functional kitchen featuring ovens, sinks, a dishwasher, freezer, microwave, and refrigerator. The second floor mirrors the functionality of the main level, offering another full kitchen, a meeting room, three additional offices, and a large gathering area providing a commanding view of the gymnasium below. The lower level adds further versatility with a third full kitchen, a recreational room, utility hookups, and convenient outside egress. This property's substantial size, multiple kitchens, and flexible floor plan make it ideal for a variety of commercial ventures, from community centers and event spaces to office complexes and mixed-use developments. The 0.23-acre lot provides ample space for outdoor activities or potential expansion. Don't miss this chance to acquire a landmark property in a thriving downtown area. Priced at $595,000.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1926
Total area 3,184 SF
Lot 0.23 ac (9,900 SF)
APN 18.31.1.26.367
UPID US46-1242994

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Church

Location

222 3rd NW Ave Faribault, MN 55021-5119
Faribault metro Census 70902 FARIBAULT-NORTHFIELD, MN MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$450k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$450k

Owner & transaction history

since 2024
Last sale
$450,000
1 recorded transaction
2024
$450,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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