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$2,250,000 -$250,000 (-10%) Price Reduced

  • For Sale
  • Active
  • Commercial
  • 21,600 Sq. Ft.
  • 0.235 Acres
  • Updated 13 hours ago
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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 Spaces, 3-Story Row Houses, and Second & Third Floor Apartments. The Total Gross Building Square Footage Is Just Over 24,000+. After The Devastating 1998 Tornado, A Group Of Investors Came Together To Save This Historic Piece Of Real Estate and Replaced The Roofs, Windows, Installed A New Elevator, Tuck Pointed The Exterior Brick, and Added Maintenance Free Metal Coping Around The Whole Top Of The Structure. 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 2Bd + Den, 1Ba. You Will Definitely Want To Tour This Building!! Pro-Forma Noi $193,415 / Cap Rate 8.60 %

Full Property Details for 122 S Minnesota Ave

General

  • Price: $2,250,000
  • Taxes: $25,434 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6825253
  • Updated: 2/6/2026
  • Added to Site: 61 day(s) ago

Interior

  • Appliances: Range, Refrigerator
  • Flooring: Carpet, Tile

Additional Information

  • Amenities: Ceiling Fan(s), Tile Floors, Walk-In Closet

Parking

  • Parking Features: Off Site, Parking Lot

Location

  • County: Nicollet
  • Township: Saint Peter
  • Subdivision: Amended
  • Driving Directions: Located on Main Street in downtown Saint Peter, MN

School Information

  • School District: 1871 - St. Peter
  • High School District: St. Peter

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air, Window Unit(s)
  • Heating Type: Forced Air
  • Heating Fuel: Electric, Natural Gas, Oil

Utilities

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

Structural Information

  • Exterior Const.: Brick
  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Drain Tiles, Drainage System, Egress Window(s), Finished, Full, Sump Pump
  • Foundation Size: 5400
  • Roof: Age Over 8 Years, Asphalt, Flat, Pitched, Rubber
  • Ceiling Height: 11-15
  • Disability Access: None
  • Square Feet: 21,600
  • Finished Down/Base.: 21,600 Sq. Ft.
  • Current Bldg. Use: Residential
  • Year Built: 1872

Unit Information

  • Units w/Refrigerators: 1

Lot Features

  • Lot Size (Acres): 0.235
  • Lot Dimensions: 66 x 155
  • Frontage: City Street
  • Potential Use: Office, Professional Service, Restaurant, Income
  • Zoning: Business/Commercial, Residential-Multi-Family
  • Lot Description: Corner Lot

Financial Considerations

  • Operating Expenses: $95,274
  • Tax Amount: $25,434
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Insurance, Taxes
  • Tenant Pays: Broadband, Cable TV, Electricity, Gas
  • Pays Cable: Tenant Pays
  • Pays Electric: Tenant Pays
  • Pays Gas: Tenant Pays

Disclosures and Reports

  • Legal Description: BLOCK 177 LOT 4 SUBDIVISIONCD 19412 SUBDIVISIONNAME AMENDED PLAT
  • Inclusions: Building, Land, Leases, Rental License
  • Property ID: 194123672

Listed by Apartment Cash Flow, Inc.

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— 122 S Minnesota Ave —

  • Apartment Cash Flow, Inc.

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

Schools serving 122 S Minnesota Ave

School District:St. Peter Public School District
NameGradesDistance
North Elementary School
815 North 9th Street, Saint Peter, MN 56082
2-40.8 mi
South Elementary School
1405 South 7th Street, Saint Peter, MN 56082
K-11 mi
St. Peter Senior High School
2121 West Broadway Avenue, Saint Peter, MN 56082
9-121.1 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 122 S Minnesota Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/05/2026
Price Reduced
$2,250,000
-10%
MLS
12/08/2025
Listed
$2,500,000
94.17%
MLS
1/31/2020
Sold
$1,287,500
—
Public Record
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 122 S Minnesota Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$25,434
8%
$1,209,800
3%
2023
$23,510
-4%
$1,176,100
—
2023
$24,580
-11%
$1,176,800
—
2022
$27,634
19%
$1,176,800
-2%
2020
$23,220
—
$1,203,900
7%
2019
$23,278
—
$1,128,000
10%
2019
$23,278
—
$1,023,200
—
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 Apartment Cash Flow, Inc.

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122 S Minnesota Avenue, Saint Peter, MN 56082 (MLS# 6825253) is a Commercial property. 122 S Minnesota Avenue is currently listed for $2,250,000 and was received on December 08, 2025. Want to learn more about 122 S Minnesota Avenue? Do you have questions about finding other Commercial real estate for sale in Saint Peter? You can browse all Saint Peter real estate or contact a Coldwell Banker agent to request more information.

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