12 3rd Street NE,Faribault, MN 55021
Faribault, MN 55021
Description
Check out this prime mixed-use opportunity in the heart of downtown Faribault! Unlock the potential of this versatile downtown gem, perfectly positioned in one of Southern Minnesota’s most up-and-coming small towns-just 35 minutes south of the Twin Cities, right off Interstate 35. This mixed-use building offers two main-level commercial spaces. One unit is currently leased with a solid two-year agreement in place, providing immediate income. The second storefront is move-in ready: ideal for an owner-occupant or an easy addition to your investment portfolio. With great foot traffic and charming curb appeal, this space is perfect for a boutique, ice cream shop, yoga/exercise studio, or other small business ventures. Investors, Contractors, Entrepreneurs-this one's for you! Upstairs, the opportunities are endless. With some renovation, the upper level can be restored to its original residential layout, with potential for three studio or one-bedroom apartments, or reconfigured for larger units to meet growing rental demand in the area. The property is currently undergoing a parcel split, which will be completed prior to closing. A shared wall agreement and access to shared water/sewer lines with adjacent parcels will be included. Seller will also install a separation wall upstairs to define private apartment space on the west side. Location, Location, Location! Just steps from the exciting new Viaduct Park development: featuring splash pads, an ice rink, and future attractions & features aimed to increase tourism and local activity. Surrounded by popular restaurants, shops, and ongoing downtown revitalization, this is your chance to plant roots in a community on the rise. Whether you're expanding your business, growing your investment portfolio, or dreaming up your next big idea-this is the kind of opportunity that doesn’t come around often. Schedule your showing today and claim your piece of Faribault’s future!
Details
| MLS # | 7012006 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 214 |
| Listing Provided By | eXp Realty | Hailey M. Warner |
Features
| Bath(s) | 1 |
|---|---|
| SQ Feet | 5,670 |
| Basement | Y |
| Story(s) | 2 |
| Units | 5 |
| Zoning | Business/Commercial |
| Acreage | 0.25 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Forced Air |
Parking
| Parking Features | Unassigned |
|---|
Utilities
| Utilities | Electric Separate, Heating Separate, Hot Water Separate |
|---|
Taxes
| Property | 7984 |
|---|
Area Information
| State | MN |
|---|---|
| County | Rice |
| City | Faribault |
| Zip Code | 55021 |
| Community Name | City/Faribault |
| School District | 656 |
| High School | Faribault |
| Listing VS Median (in City/Faribault) | |
Price: $319,000 low | high Med: $515,000 sqft: 5,670 low | high Med: 3,596 $ / sqft: $56 low | high Med: $143 On site: 214 low | high Med: 27 | |
Market Activity 55021
Request a showing
Request a showing
Listings courtesy of Northstar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of August 24, 2026 at 9:15:13 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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 must be sent in writing by email to DMCAnotice@MLSGrid.com.
Contact
Learn More About This Property
| State | MN |
|---|---|
| County | Rice |
| City | Faribault |
| Zip Code | 55021 |
| Community Name | City/Faribault |
| School District | 656 |
| High School | Faribault |
| Listing VS Median (in City/Faribault) | |
Price: $319,000 low | high Med: $515,000 sqft: 5,670 low | high Med: 3,596 $ / sqft: $56 low | high Med: $143 On site: 214 low | high Med: 27 | |
