14 3rd Street NW, Faribault, MN 55021 (MLS# 7135428)

14 3rd Street NW, Faribault, MN 55021

$1,095,000
Property Type: Commercial Bedrooms: 8 Baths: 8 Square Footage: 9,900 Lot Size (sq. ft.): 3,049 Status: Active
Current Price: $1,095,000 List Date: 8/31/2026 Last Modified: 9/08/2026

Overview

Description

Investment opportunity in the heart of downtown Faribault. This 9-unit mixed-use property consists of eight renovated residential apartments and one commercial space. The residential units have been extensively renovated with updated kitchens, bathrooms, flooring, and finishes, along with new electric baseboard heat, allowing residents to control and pay for their own heating costs. Additional capital improvements include a newer roof with a transferable warranty and a new fire panel. The commercial space is leased through December 2030, providing in-place income, while the eight renovated residential units are currently vacant, giving the next owner the opportunity to complete lease-up and stabilize the property. Commercial tenant pays their own gas/electric/trash/sewer/internet and is in charge of HVAC maintenance. Convenient downtown location near businesses, restaurants, and services. An opportunity to acquire a substantially improved mixed-use asset with much of the renovation and ...

Listing Details MLS# 7135428

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1910
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
3300
For Sale or Lease
For Sale
Acres
0.07
Lot Dimensions
50x66
Assessment Pending
No

Property Features

Accessible: None CMU Style: Apartments and Retail Construction Status: Previously Owned Current Use: Residential; Retail Exterior: Brick/Stone Foundation: Poured Concrete Fuel: Natural Gas Heating: Baseboard Loan Terms: Cash; Conventional; Other On Site Utilities: Electric Separate Owner Pays: Common Area Maintenance; Sewer; Trash Collection; Water Parking Characteristics: None Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: All Utilities; Electricity; Gas Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
1095000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
14
Street Name
3rd
Street Suffix
Street
Street Direction Suffix
NW
Postal City
Faribault
County
Rice
State
MN
Zip Code
55021
Complex/Dev/Subdivision
City/Faribault

Assessments

Tax With Assessments
6336

Building Information

Building Finished SqFt
9900
Building SqFt
9900

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Sale Options

Sale Includes
Building

Unit 1

Unit Number
Yes
Full Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
Yes
Leased?
No
No. of 1 Bedroom Units
8

Unit 2

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
2

Unit 3

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
3

Unit 4

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
4

Unit 5

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
5

Unit 6

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
6

Unit 7

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
7

Unit 8

Full Baths
Yes
Leased?
No
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
8

Unit 9

Lease Expiration Date
2030-12-31
Leased?
Yes
Level
Main Level
Monthly Rent
2000
Unit Number
9

Unit Details

Total Units
9
IDX
Listing Office: RE/MAX Results
Last Updated: September - 08 - 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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