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508 Central AVE N Faribault, MN 55021
6,969 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision City/Faribault
MLS Listing ID 7142833
Year Built 1910
Annual Tax Amount $6,284
Tax Year 2026
Contingent None
Lot Size 6,969 Sqft
Lot Dimensions 1x1
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.
Location
State MN
County Rice
Zoning Business/Commercial
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building
Fireplace No
Exterior
Parking Features Attached Garage
Garage Spaces 1.0
Utilities Available Electric Separate, Heating Separate
Present Use Vacant
Building
Foundation 1920
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District Faribault
Listed by Katherine Kalow • Edina Realty, Inc.
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