213 Central Avenue N, Faribault, MN 55021 (MLS# 7115327)

213 Central Avenue N, Faribault, MN 55021

$409,000

Property Type: Commercial Square Footage: 6,930 Lot Size (sq. ft.): 3,485 Status: Active

Current Price: $409,000 List Date: 7/28/2026 Last Modified: 7/30/2026

Overview

Description

Investment opportunity meets historic downtown charm! This beautifully maintained mixed-use building offers the rare combination of immediate income, exceptional condition, and long-term flexibility in the heart of Faribault's thriving downtown district. With a well-established commercial tenant occupying the fully renovated main level and two beautifully updated, fully furnished, charming & well-kept apartments above (one 1-bedroom and one 2-bedroom), this is the kind of turnkey investment that's becoming increasingly difficult to find. Whether you're looking to expand your investment portfolio, operate a successful short- or mid-term rental business, or enjoy owner-occupancy while offsetting your expenses with rental income, this property offers incredible versatility. The current owner has poured years of care, thoughtful improvements, and significant investment into the building, creating a property that's ready for its next chapter-allowing you to step in and immediately enjoy the ... (Read more) Investment opportunity meets historic downtown charm! This beautifully maintained mixed-use building offers the rare combination of immediate income, exceptional condition, and long-term flexibility in the heart of Faribault's thriving downtown district. With a well-established commercial tenant occupying the fully renovated main level and two beautifully updated, fully furnished, charming & well-kept apartments above (one 1-bedroom and one 2-bedroom), this is the kind of turnkey investment that's becoming increasingly difficult to find. Whether you're looking to expand your investment portfolio, operate a successful short- or mid-term rental business, or enjoy owner-occupancy while offsetting your expenses with rental income, this property offers incredible versatility. The current owner has poured years of care, thoughtful improvements, and significant investment into the building, creating a property that's ready for its next chapter-allowing you to step in and immediately enjoy the rewards. One of the standout features is the full basement with a rare tuck-under garage and overhead door, an amenity seldom found in historic downtown buildings. The lower level provides abundant storage and has even served as a private workout room and retreat for a previous commercial occupant, offering endless possibilities for future use. The main-floor commercial space has been extensively renovated, including an ADA-accessible restroom, creating a welcoming and functional environment for today's businesses. Upstairs, the apartments blend historic character with modern finishes, offering stylish, move-in-ready living spaces that appeal to both long- and short-term tenants. Located on one of Faribault's most vibrant downtown blocks, you'll be surrounded by locally loved shops, restaurants, coffee houses, and entertainment, all within walking distance. The property's proximity to popular destinations like the area's wedding venues and Shattuck-St. Mary's creates strong demand for quality housing and rental opportunities year-round. Properties like this don't come along often, a lovingly restored, income-producing downtown building with multiple revenue streams, exceptional updates, and endless possibilities for both investors and owner-occupants. Come experience the charm, opportunity, and potential this remarkable property has to offer.

Listing Details MLS# 7115327

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: Yes
Owner Occupied: No
Waterfront YN: No
Year Built: 1910
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 2310
Garage Stalls: Yes
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.08
Lot Dimensions: 148x22
Assessment Pending: No

Property Features

Accessible: Other Amenities Shared: Other Appliances: Cooktop; Dryer; Microwave; Refrigerator; Washer Basement: Full; Shared Access; Storage Space CMU Style: Apartments and Retail; Business Opportunity; Mixed Use Construction Status: Previously Owned Current Use: Commercial; Residential; Retail Exterior: Brick/Stone Foundation: Stone Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Conventional Location Description: Downtown On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: All Utilities Parking Characteristics: Storage; Tuckunder Garage Potential Use: Diversified; Income; Motel/Hotel; Office; Professional; Retail Rent Rate per Foot: Gross Rental License Type: Standard Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer Road Responsibility: Public Maintained Road Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 409000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 213
Street Name: Central
Street Suffix: Avenue
Street Direction Suffix: N
Postal City: Faribault
County: Rice
State: MN
Zip Code: 55021

Assessments

Tax With Assessments: 5972

Basement

Foundation Dimensions: 22x105

More Information

Building Information

Building Finished SqFt: 4620
Building SqFt: 6930

Income and Expenses

Annual Gross Income: 51360

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Other

Unit 1

Unit Number: Yes
No. of 1 Bedroom Units: Yes

Unit 2

No. of 2 Bedroom Units: Yes

Unit Details

Total Units: 3

Listing Office: eXp Realty

Last Updated: July - 30 - 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.

213 Central Avenue N, Faribault, MN 55021 (MLS# 7115327)