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    Property profile & analytics

    224 Minnesota Ave Saint Peter, MN 56082-2522

    • Turn key restaurants
    • 6,005 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    $305,000
    Location Intelligence
    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.

    Current Use by Public Records

    • Erbert and Gerberts / Delivery Restaurant / Restaurant
    • SIDE STREET PARKING / Parking Lot

    Property Details for 224 Minnesota Ave

    Year built
    1890
    Lot size
    0.08 lot acres
    Property size
    6,005 SF
    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 Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $270,000

    • CAP approach

      CAP return
      Estimation
      6%
      $410,000
      6.5%
      $375,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $380,000
      Geo Method
      $350,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $370,000
      Retail
      $355,000
      Mixed-Use
      $355,000
      Hospitality
      $440,000
      Educational
      $345,000
      Residential Income
      $415,000
      Energy
      $335,000
      Income-Based Land
      $365,000
      Food Service
      $405,000

    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

    Comparable in this City

    • Value Estimation
      $240,000
      6,664 SF

      220 Minnesota Ave

      RESTAURANT • 6,664 SF
      220 Minnesota Ave, Saint Peter, MN 56082-2522
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    • Value Estimation by Request
      4,288 SF

      Dranttel St

      RESTAURANT • 4,288 SF
      Dranttel St, Saint Peter, MN 56082
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    • Value Estimation
      $320,000
      7,290 SF

      225 Minnesota Ave

      RESTAURANT • 7,290 SF
      225 Minnesota Ave, Saint Peter, MN 56082-2521
      View Details
    • Value Estimation by Request
      7,946 SF

      408 12th S 3rd St

      RESTAURANT • 7,946 SF
      408 12th S 3rd St, Saint Peter, MN 56082-2032
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    • Value Estimation
      $415,000
      4,224 SF

      229 Nassau St

      RESTAURANT • 4,224 SF
      229 Nassau St, Saint Peter, MN 56082-2055
      View Details
    • Value Estimation by Request
      9,964 SF

      320 Sunrise Dr

      RESTAURANT • 9,964 SF
      320 Sunrise Dr, Saint Peter, MN 56082-1352
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    224 Minnesota Ave
    Saint Peter, MN 56082-2522
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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