MN > Faribault > State
Faribault, MN 55021,1150 3rd ST SW
Faribault, MN 55021,1150 3rd ST SW
Faribault, MN 55021,1150 3rd ST SW
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Chad Pederson

Chad Pederson

+1(612) 325-8745
$715,000
Est. payment /mo
0.49 Acres Lot
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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision State

MLS Listing ID 6701607

Year Built 1973

Annual Tax Amount $8,266

Tax Year 2025

Contingent None

Lot Size 0.490 Acres

Acres 0.49

Lot Dimensions 1x1

Property Sub-Type Apartment

Property Description

Endless Potential in Prime Faribault Location – Ideal for Student Housing, Assisted Living, or Hospitality Use.
Positioned directly across from South Central College's Faribault Campus, this versatile property presents a rare opportunity for a wide range of commercial or residential applications. Previously utilized as both an assisted living facility and a group home, the building is perfectly suited for conversion into student housing, a small boutique hotel, or other multi-tenant residential or service-oriented use.
Zoned R-4, the property supports a variety of higher-density residential or institutional uses, giving investors and developers the flexibility to realize their vision. A newly installed roof (Spring 2025), well-maintained mechanical systems, and an ADA-compliant handicap ramp from the parking area to the upper level make this an accessible and functional space right from day one.
Whether you're looking to expand your portfolio in the healthcare, housing, or hospitality sectors, this property is a solid investment with outstanding location benefits, strong infrastructure, and room for creative development. The sky truly is the limit.

Location

State MN

County Rice

Zoning Residential-Multi-Family

Rooms

Basement Block

Kitchen Prep Station, Refrigerator, Oven

Interior

Heating Boiler, Ductless Mini-Split

Cooling Ductless Mini-Split

Inclusions Building

Fireplace No

Exterior

Parking Features Detached, Asphalt, Garage Door Opener, No Int Access to Dwelling, Paved

Garage Spaces 2.0

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Age 8 Years or Less

Present Use Residential

Building

Lot Description Some Trees

Foundation 2975

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Vinyl Siding

Schools

School District Faribault

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Listed by Katherine Kalow • Edina Realty, Inc.

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agent

Chad Pederson

+1(612) 325-8745

Broker | License ID: 20586306

Broker License ID: 20586306

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