14/16 3rd ST NE Active Save Request In-Person Tour Request Virtual Tour
Faribault,MN 55021
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6727765
Year Built 1920
Annual Tax Amount $7,772
Tax Year 2025
Property Description
Downtown Faribault Investment Opportunity – Mixed-Use Property with Income & Upside!
Discover this exceptional investment opportunity in the vibrant heart of downtown Faribault—an emerging destination just 35 minutes south of the Twin Cities with direct access to I-35. Positioned in a high-visibility location within one of Southern Minnesota's fastest-growing small-town markets, this mixed-use building offers both immediate cash flow and long-term development potential.
The main level features two commercial storefronts, currently under a strong two-year lease with a single tenant—delivering stable, turn-key income from day one. Whether you're an investor seeking reliable returns, a contractor with vision, or an entrepreneur looking for your next venture, this property offers the flexibility to meet a variety of goals.
The upper level presents a blank canvas with immense potential. With the right renovation, it could be transformed into a large two-bedroom unit plus additional one-bedroom or studio apartments—perfect for tapping into the area's rising rental demand. Zoned and situated to support mixed-use development, the property is ideal for anyone looking to contribute to Faribault's dynamic downtown revitalization.
The building is currently undergoing a parcel split, which will be completed prior to closing, ensuring a smooth path forward for the next owner. Just steps from the new Viaduct Park development—an exciting public space featuring splash pads, a winter ice rink, and future family-friendly attractions—this location is surrounded by popular restaurants, retail shops, and ongoing community enhancements.
Whether you're growing your investment portfolio, launching a new business, or reimagining the space for residential income, this is a rare opportunity to plant roots in a town on the rise. Properties with this kind of potential—and prime location—don't come around often.
Schedule your showing today and explore the possibilities!
Location
State MN
County Rice
Zoning Business/Commercial
Interior
Heating Hot Water
Inclusions Building,Leases
Exterior
Parking Features On-Street Parking Only
Utilities Available Electric Separate,Heating Separate,Hot Water Separate
Building
Story Two
Foundation 1472
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District Faribault