122 S Minnesota Avenue, Saint Peter, MN 56082 (MLS# 6825253)

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

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-FOR ...

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
IDX
Listing Office: Apartment Cash Flow, Inc.
Last Updated: September - 07 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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