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$499,900

  • For Sale
  • Active
  • Commercial
  • 13,068 Sq. Ft.
  • 0.064 Acres
  • Updated 8 days ago
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Longtime former Jewelry Store with Karate Studio on the upper level and a nicely finished basement located right in the heart of Historic Downtown Albert Lea on Broadway Ave. Over 3000 square feet per floor with 4 floors of space including the finished basement, main floor former jewelry store, 2nd floor that could be developed into offices or apartments with 14 foot ceilings and the 3rd floor that had a large karate studio occupying it. There is a lot of space in this large historic downtown building. This building is located right in the heart of a historically intact downtown that has a handful of shops and restaurants including some brand new restaurants right across the street and one-block away as well as established shopping, apartments, gyms, salons, professional services and bar/pubs near by. This building has been owner occupied for close to 30 years and is a rare find to have so much space in a downtown building and only blocks from Albert Lea's Fountain Lake Park.

Full Property Details for 202 S Broadway Ave

General

  • Price: $499,900
  • Taxes: $4,577 (2026)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6726913
  • Updated: 3/24/2026
  • Added to Site: 314 day(s) ago

Parking

  • Parking Features: On-Street Parking Only

Location

  • County: Freeborn
  • Township: Albert Lea
  • Driving Directions: From the Intersection of Broadway and Main in Historic Downtown Albert Lea head South into downtown 1 block. Building is on the corner of Broadway Ave S & William St E.

School Information

  • School District: 1141 - Albert Lea
  • High School District: Albert Lea

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Common, Heating Separate, Hot Water Common

Structural Information

  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Finished, Full
  • Foundation Size: 3267
  • Roof: Age Over 8 Years
  • Disability Access: Other
  • Square Feet: 13,068
  • Finished Down/Base.: 13,068 Sq. Ft.
  • Current Bldg. Use: Commercial, Event Space, Office, Retail
  • Year Built: 1890

Lot Features

  • Lot Size (Acres): 0.064
  • Lot Dimensions: 27 x 121
  • Frontage: City Street, Sidewalks, Street Lights
  • Potential Use: Office, Professional Service, Rest/Lounge, Retail, Grocery, Income, Lounge/Bar, Medical/Dental
  • Zoning: Business/Commercial
  • Lot Description: Corner Lot

Financial Considerations

  • Tax Amount: $4,577
  • Tax Year: 2026
  • Terms: Conventional, Cash

Disclosures and Reports

  • Legal Description: ALBERT LEA ORIGINAL PLAT LOT-PT8 BLOCK-021 N 23 FT LOT 8 BLK 21 ORIGINAL PLAT
  • Inclusions: Building, Land
  • Property ID: 340012790

Listed by Robert Hoffman Realty Inc.

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Listing agent

— 202 S Broadway Ave —

  • Robert Hoffman Realty Inc.

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NMLS#: 1598647

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 202 S Broadway Ave

School District:Albert Lea Public School District
NameGradesDistance
Lakeview Elementary School, Albert Lea, MN
902 Abbott Street, Albert Lea, MN 56007
K-50.7 mi
Southwest Middle School
1601 West Front Street, Albert Lea, MN 56007
6-71.2 mi
Albert Lea Senior High School
2000 Tiger Lane, Albert Lea, MN 56007
8-122 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 202 S Broadway Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/25/2025
Price Reduced
$499,900
-4.78%
MLS
5/23/2025
Listed
$525,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 202 S Broadway Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,396
29%
$189,800
8%
2023
$4,178
24%
$176,300
27%
2023
$3,370
-23%
$138,800
43%
2020
$4,394
—
$97,200
-1%
2020
$4,394
—
$98,100
-14%
2020
$4,394
-1%
$113,900
—
2019
$4,428
-2%
$113,900
100%
2018
$4,500
-8%
100%
2016
$4,896
—
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Robert Hoffman Realty Inc.

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202 S Broadway Avenue, Albert Lea, MN 56007 (MLS# 6726913) is a Commercial property. 202 S Broadway Avenue is currently listed for $499,900 and was received on May 23, 2025. Want to learn more about 202 S Broadway Avenue? Do you have questions about finding other Commercial real estate for sale in Albert Lea? You can browse all Albert Lea real estate or contact a Coldwell Banker agent to request more information.

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