222 3Rd AveFaribault, MN 55021

Property Details for 222 3Rd Ave

Year built

1926

Lot size

0.23 AC

Property size (Sq ft)

3,184 SF

Property type

Office properties

APN

18.31.1.26.367

APU

1831126367

Description

This exceptional 11,596 square foot, all-brick commercial building presents a rare opportunity in the heart of Faribault, Minnesota. Situated just one block from city and county government buildings, this historic property boasts a prime downtown location with immense potential for diverse uses. The building features updated windows and a newer roof, ensuring both aesthetic appeal and structural integrity. Accessibility is a key feature, with the main level offering convenient, stair-free access. This level includes three offices, expansive gathering spaces complete with a fireplace, a gymnasium equipped with a performance stage, a dedicated meeting room, and a fully functional kitchen featuring ovens, sinks, a dishwasher, freezer, microwave, and refrigerator. The second floor mirrors the functionality of the main level, offering another full kitchen, a meeting room, three additional offices, and a large gathering area providing a commanding view of the gymnasium below. The lower level adds further versatility with a third full kitchen, a recreational room, utility hookups, and convenient outside egress. This property's substantial size, multiple kitchens, and flexible floor plan make it ideal for a variety of commercial ventures, from community centers and event spaces to office complexes and mixed-use developments. The 0.23-acre lot provides ample space for outdoor activities or potential expansion. Don't miss this chance to acquire a landmark property in a thriving downtown area. Priced at $595,000.

• CAP approach

  CAP return

  Valuation

  6%

  $524,122

  6.5%

  $483,804

  7%

  $449,247

• Comparable approach

  Method

  Valuation

  Relative Method

  $162,511

  Geo Method

  $162,511

• Alternative Use

  Use

  Valuation

  Residential

  $599,918

  Hospitality

  $549,521

  Educational

  $457,195

  Medical

  $472,919

  Retail

  $711,193

Location Insight

City

Faribault

County

Rice

State

Minnesota

Latitude

44.2933

Longitude

-93.2734

CBSA code

22060

CBSA name

FARIBAULT-NORTHFIELD, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].