122 S Minnesota Avenue, Saint Peter, MN 56082
$1,999,000
Property Type: Commercial Square Footage: 21,600 Lot Size (sq. ft.): 10,019 Status: Active
Current Price: $1,999,000 List Date: 12/08/2025 Last Modified: 9/07/2026
Overview
Description
... (Read more) 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 $198,337 / CAP RATE 9.92 %
Listing Details MLS# 6825253
General Property Information
- Lot Measurement
- Acres
- Management Company Name
- Self Managed
- Multiple PIDs?
- No
- Other Parking Spaces
- 20
- Owner Occupied
- No
- Waterfront YN
- No
- Year Built
- 1872
- Yearly/Seasonal
- Yearly
- Zoning
- Business/Commercial, Residential-Multi-Family
- Foundation Size
- 5400
- For Sale or Lease
- For Sale
- Acres
- 0.23
- Lot Dimensions
- 66 x 155
- Assessment Pending
- No
Property Features
Accessible: None Air Conditioning: Central Air; Window Unit(s) Amenities Unit: Ceiling Fan(s); Tile Floors; Walk-In Closet Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Drain Tiled; Drainage System; Egress Windows; Full; Sump Pump CMU Style: Apartments and Retail; Apartments/Multi Family; Business Opportunity; Mixed Use Construction Materials: Brick Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick/Stone Fencing: None Flooring: Carpet; Tile Foundation: Stone Fuel: Electric; Natural Gas; Oil Heating: Forced Air Internet Options: Cable Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: None Lot Description: Corner Lot On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Insurance; Taxes Parking Characteristics: Parking Lot; Off Site Pool Description: None Potential Use: Income; Office; Professional; Restaurant Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles; Flat; Pitched; Rubber Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV; Electricity; Gas Topography: Level Wall Description: Drywall; Plaster Water: City Water/Connected
Contract Information
- Contingency
- None
- ListPrice
- 1999000
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- House Number
- 122
- Street Direction Prefix
- S
- Street Name
- Minnesota
- Street Suffix
- Avenue
- Postal City
- Saint Peter
- County
- Nicollet
- State
- MN
- Zip Code
- 56082
- Complex/Dev/Subdivision
- Amended
Assessments
- Tax With Assessments
- 27734
Building Information
- Building Finished SqFt
- 21600
- Building SqFt
- 21600
- Ceiling Height
- 11-15
More Information
Income and Expenses
- Annual Caretaker Expense
- 14814
- Annual Fuel Expense
- 19408
- Annual Gross Expenses
- 97954
- Annual Gross Income
- 296292
- Annual Insurance Expense
- 7043
- Annual Maintenance Expense
- 8750
- Annual Net Income
- 198337
- Annual Trash Expense
- 3720
- Annual Water/Sewer Expense
- 4535
- Total Annual Expenses
- 97954
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Sale Options
- Sale Includes
- Building, Land, Leases, Rental License
Unit 1
- No. of 1 Bedroom Units
- 14
Unit 2
- No. of 2 Bedroom Units
- 6
Unit Details
- Total Units
- 25

Listing Office: Apartment Cash Flow, Inc.
Last Updated: September - 07 - 2026
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