For Sale: Saint Peter MLS# 6509744
Active
$2,200,000
Commercial: Apartment,Mixed Use,Low Rise,Office
Built 1872
0.24 acres
St. Peter schools
MLS# 6509744
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Property Description
THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL, 3-STORY ROW HOUSES, WITH SECOND AND THIRD FLOOR APARTMENTS. TOTAL GROSS BUILDING SQUARE FOOTAGE JUST OVER 24, 000+. JUST AFTER THE DEVASTATING 1998 TORNADO A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, THE WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. BOTH THE MAIN FLOOR AND LOWER LEVEL HAVE LONG STANDING COMMERCIAL TENANTS. THE 2ND & 3RD FLOOR APARTMENTS FEATURE TALL CEILING HEIGHTS AND UPDATED KITCHENS & BATHROOMS. IN THE BACK OF THE PROPERTY THERE ARE FOUR ROW HOUSES EACH WITH UNIQUE LAYOUTS AND SOME WITH THREE STORIES. TWO OF THESE ROW-HOUSES ARE 1BD, 1BA AND THE OTHER TWO ARE 2
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,200,000
Property Type:
Commercial
City:
Saint Peter
County:
Nicollet
Year Built:
1872
State:
MN
Property Style:
Apartment, Mixed Use, Low Rise, Office
Zip Code:
56082
Subdivision Name:
Amended
Interior
Ceiling Height:
11-15
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Finished
- Full
Exterior
Stories:
Three Or More
Other Parking Spaces:
0
Foundation Size:
5,400 ft2
Foundation Dimensions:
45 x 120
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Forced Air
Parking Features:
Paved
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Asphalt
- Metal
- Rubber
Lot & Land
Acres:
0.24
Geolocation:
44.325344, -93.95675
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
66 x 155
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
508
District Phone:
507-934-5703
Expenses
Annual Caretaker Expense:
$13,142
Annual Electric Expense:
$2,000
Annual Fuel Expense:
$15,000
Annual Insurance Expense:
$7,043
Annual Maintenance Expense:
$8,750
Annual Gross Expense:
$93,758
Annual Trash Expense:
$3,720
Annual Water/Sewer Expense:
$4,535
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$23,510
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$23,510
Land Lease Amount:
400
Income
Annual Gross Income:
$270,619
Rent
Annual Net Income:
$176,861
Units
Total Units:
25
Miscellaneous
Current Use:
- Office
- Residential
- Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
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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.