About 14 3rd Street Nw
Investment opportunity in the heart of downtown Faribault. This 9-unit mixed-use property consists of eight renovated residential apartments and one commercial space. The residential units have been extensively renovated with updated kitchens, bathrooms, flooring, and finishes, along with new electric baseboard heat, allowing residents to control and pay for their own heating costs. Additional capital improvements include a newer roof with a transferable warranty and a new fire panel. The commercial space is leased through December 2030, providing in-place income, while the eight renovated residential units are currently vacant, giving the next owner the opportunity to complete lease-up and stabilize the property. Commercial tenant pays their own gas/electric/trash/sewer/internet and is in charge of HVAC maintenance. Convenient downtown location near businesses, restaurants, and services. An opportunity to acquire a substantially improved mixed-use asset with much of the renovation and capital improvement work already completed.
Features of 14 3rd Street Nw
| MLS® # | 7135428 |
|---|---|
| Price | $1,095,000 |
| Bedrooms | 8 |
| Bathrooms | 8.00 |
| Acres | 0.08 |
| Year Built | 1910 |
| Type | Commercial Sale |
| Status | Active |
Community Information
| Address | 14 3rd Street Nw |
|---|---|
| Subdivision | City/Faribault |
| City | Faribault |
| County | Rice |
| State | MN |
| Zip Code | 55021 |
Amenities
| Utilities | Electric Separate |
|---|---|
| Parking | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Baseboard |
|---|---|
| Fireplace | No |
Exterior
| Exterior Features | Stone |
|---|
School Information
| District | Faribault |
|---|
Additional Information
| Days on Market | 9 |
|---|---|
| Zoning | Business/Commercial |
| Foreclosure | No |
| Short Sale | No |
| Taxes | $6,336 |
| Tax Year | 2026 |
Listing Details
| Office | RE/MAX Results |
|---|