224 Minnesota Ave Saint Peter, MN 56082-2522
Property profile & analytics
224 Minnesota Ave, Saint Peter, MN 56082-2522
- Turn key restaurants
- 6,005 SF
- 0.08 lot acres
Property ID
US46-2039312
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Erbert and Gerberts / Take-out & Catering
- SIDE STREET PARKING / Parking Lot & Garage
Property Details for 224 Minnesota Ave
- Year built
- 1890
- Lot size
- 0.08 lot acres
- Property type
- Turn key restaurants
- APN
- 19.412.3810
- APU
- 194123810
Description
This fully occupied, mixed-use property in Saint Peter, Minnesota presents a compelling investment opportunity. The 9,456 square foot building, constructed in 1887 and renovated in 1998, boasts a unique blend of commercial and residential space. The property features two large main floor retail units, one of which is occupied by a long-term franchisee tenant, Erberts & Gerberts. The second floor comprises two oversized loft-style apartments with high ceilings. A long-term tenant occupies the lower level. The building is 100% occupied, generating a net operating income (NOI) of $45,625, resulting in a 7.02% capitalization rate. The property is a three-story, all-brick and Kasota limestone structure situated on a 0.083-acre lot (APN: 19-412-3810). The asking price is $650,000 ($130,000 per unit, $68.74 per square foot). The roof was replaced in 1998, and windows have been updated. Most utilities are paid by tenants. This stabilized, value-add investment is offered in as-is condition and is suitable for a 1031 exchange. The property is zoned commercial and offers excellent curb appeal. Financial details are available upon request.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Saint Peter
- County
- Nicollet
- State
- Minnesota
- Longitude
- -93.9574
- Latitude
- 44.3244
- CBSA code
- 31860
- CBSA name
- MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$9,516
$64,800
$333,300
$398,100
-
$64,800
$333,300
$398,100
