122 S Minnesota Avenue
Saint Peter, MN 56082
Price: $2,250,000
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 $193,415 / CAP RATE 8.60 %
Basic Features:
| Type |
Commercial Sale |
| Zoning |
Business/Commercial,Residential-Multi-Family |
| Year Built |
1872 |
| School District |
St. Peter |
| County |
Nicollet |
| Lot Size |
66 x 155 |
| Acreage |
0.24 acres |
| Lot Description |
Corner Lot |
| Number of Units |
25 |
| Tax $ / Year |
$25,434 / 2025 |
| Tax ID |
|
| Legal Description |
|
Includes:
Range,Refrigerator,Building,Land,Leases,Rental License
Additional Features
| Government Programs |
|
| Terrain Type |
|
| Roads |
City Street |
| Basement |
Drain Tiled,Drainage System,Egress Window(s),Finished,Full,Sump Pump |
| Cooling |
Central Air,Window Unit(s) |
| Driveway |
|
| Exterior Features |
Brick |
| Foundation |
5400.00 |
| Fuel Source |
Electric,Natural Gas,Oil |
| Handicap Access |
None |
| Heating |
Forced Air |
| Pool |
None |
| Roof |
Age Over 8 Years,Asphalt,Flat,Pitched,Rubber |
| Sewer Service |
City Sewer/Connected |
| Water Service |
City Water/Connected |
| Water Heater |
|
| Parking Lot |
Off Site,Parking Lot |
| Exterior Construction |
|
| Fencing |
None |
| Utilities |
Electric Separate,Heating Separate,Hot Water Separate |
| Laundry |
N |
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Coldwell Banker Nybo & Associates are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
DISCLAIMER: The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. This data is updated daily. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. By viewing these listings, you are agreeing to abide by the RMLS End-User License Agreement.
© 2026 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
Digital Millennium Copyright Act (DMCA) Notice
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”), provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices and counter-notices should be sent in writing by mail to Michael Bisping, Director, Customer Relations, Regional Multiple Listing Service of Minnesota, Inc, 2550 University Avenue West, Suite 259S
Saint Paul, MN 55114 or by email to mbisping@northstarmls.com. Questions can be directed by phone to 651-251-3200.
The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and e-mail address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.