1. Minnesota
  2. Faribault
  3. 14/16 3rd Street NE
$399,000

14/16 3rd Street NE, Faribault, MN 55021

  • 2,240 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1920
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $178/sqft
  • Property List Date Icon Listed 2 months ago

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!

Listing Status:
Active
Listing Office:
eXp Realty : 320-500-4397
MLS ID:
6727765
  • Heating: Hot Water

This listing courtesy of eXp Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

R

Roosevelt Elementary School

925 Parshall St, Faribault, MN, 55021

Grades PK-5

0.83 miles away

F

Faribault Middle School

704 17th St SW, Faribault, MN, 55021

Grades 6-8

1.68 miles away

F

Faribault Senior High School

330 9th Ave SW, Faribault, MN, 55021

Grades 9-12

1.00 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.