For Sale: Faribault MLS# 7142833
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Property Description
Prime Downtown Faribault Commercial & Mixed-Use Opportunity. Discover the possibilities in the heart of downtown Faribault with this versatile commercial property offering a unique opportunity for an owner-user, entrepreneur, or investor. The main-level commercial space is currently vacant and ready for its next chapter, with a layout and location well suited for a variety of business concepts. Previously operated as a restaurant, the space could be ideal for a new dining establishment, retail business, office, personal service, entertainment venue, or even a food-truck operator ready to establish a permanent brick-and-mortar location. Adding to the appeal, the property includes a fully leased apartment above the commercial space, providing immediate rental income while offering the potential for future owner occupancy. The property is zoned Central Business District (CBD), allowing for a broad range of commercial uses, including retail, financial services, office space, personal services, and entertainment. Residential use is also permitted as an accessory use when located above a first-floor commercial use. With its prominent downtown location, flexible zoning, existing rental income, and adaptable commercial space, this property presents an excellent opportunity to establish a business, expand an existing venture, or add a versatile mixed-use asset to your investment portfolio.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$350,000
Property Type:
Commercial
City:
Faribault
Garage Spaces:
1
County:
Rice
Year Built:
1910
State:
MN
Property Style:
Other
Zip Code:
55021
Subdivision Name:
City/Faribault
Exterior
Garage Spaces:
1
Garage Size:
350 ft2
Air Conditioning:
Central Air
Foundation Size:
1,920 ft2
Handicap Accessible:
Fully Wheelchair, Grab Bars In Bathroom
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Attached Garage
Road Frontage:
City Street
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.16
Geolocation:
44.296135, -93.268749
Inclusions:
Building
Lot Dimensions:
1 x 1
Zoning:
Business/Commercial
Schools
School District:
656
District Phone:
5073336016
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$6,284
Lender-owned:
Not Disclosed
Assessment Pending:
No
Taxes w/ Assessments:
$6,584
Units
Total Units:
2
Miscellaneous
Current Use:
Vacant
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Edina Realty, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.