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$795,000 -$95,000 (-10.67%) Price Reduced

  • For Sale
  • Active
  • Commercial
  • 12,800 Sq. Ft.
  • 0.157 Acres
  • Updated 12 hours ago
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Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional income with your ideas. Each commercial tenant pays for their own utilities including extra for trash. The residents upstairs are responsible for paying their own unit electric utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 8.51% with a net operating income of $67,669. A new owner has room to improve cash flows by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.

Full Property Details for 216 S Minnesota Ave

General

  • Price: $795,000
  • Taxes: $9,190 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6821093
  • Updated: 2/6/2026
  • Added to Site: 76 day(s) ago

Interior

  • Appliances: Range, Refrigerator
  • Flooring: Wood

Exterior

  • Porch/Patio/Deck: Awning(s), Deck

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 2
  • Parking Features: Attached Garage, Parking Lot

Location

  • County: Nicollet
  • Township: Saint Peter
  • Subdivision: Amended
  • Driving Directions: Main Street downtown St. Peter, MN

School Information

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

Heating & Cooling

  • Cooling Type: Window Unit(s)
  • Heating Type: Boiler, Forced Air
  • Heating Fuel: Natural Gas

Utilities

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

Structural Information

  • Exterior Const.: Brick, Stone
  • Basement: Yes
  • Basement Desc.: Full
  • Foundation Size: 3200
  • Roof: Age Over 8 Years, Flat
  • Ceiling Height: 11-15
  • Disability Access: None
  • Square Feet: 12,800
  • Finished Down/Base.: 12,800 Sq. Ft.
  • Current Bldg. Use: Commercial, Residential
  • Year Built: 1890

Unit Information

  • Units w/Refrigerators: 1

Lot Features

  • Lot Size (Acres): 0.157
  • Lot Dimensions: 44 x 155
  • Frontage: City Street, Sidewalks
  • Potential Use: Office, Professional Service, Retail, Income
  • Zoning: Business/Commercial, Residential-Multi-Family

Financial Considerations

  • Operating Expenses: $51,253
  • Tax Amount: $9,190
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Insurance, Repairs, Taxes, Water
  • Tenant Pays: Electricity, Fuel, Trash Collection
  • Pays Electric: Tenant Pays
  • Pays Trash: Tenant Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: BLOCK 177 1/2 LOT S 2/3 OF LOT 5 SUBDIVISIONCD 19412 SUBDIVISIONNAME AMENDED PLAT
  • Inclusions: Building, Land, Leases, Rental License
  • Property ID: 194123860

Listed by Apartment Cash Flow, Inc.

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— 216 S Minnesota Ave —

  • Apartment Cash Flow, Inc.

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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 216 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-10.9 mi
St. Peter Senior High School
2121 West Broadway Avenue, Saint Peter, MN 56082
9-121.2 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 216 S Minnesota Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/05/2026
Price Reduced
$795,000
-10.67%
MLS
11/22/2025
Listed
$890,000
36.92%
MLS
12/16/2021
Sold
$650,000
—
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 216 S Minnesota Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$9,190
6%
$422,300
—
2023
$8,658
-3%
$422,300
—
2023
$8,924
—
$422,300
—
2022
$8,960
12%
$422,300
9%
2020
$7,980
—
$385,700
12%
2019
$7,992
—
$345,500
-2%
2019
$7,992
—
$351,000
—
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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216 S Minnesota Avenue, Saint Peter, MN 56082 (MLS# 6821093) is a Commercial property. 216 S Minnesota Avenue is currently listed for $795,000 and was received on November 22, 2025. Want to learn more about 216 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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