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David Wall

david@gichigami-realty.com +1(715) 203-8301

$ 850,000

Est. payment -/mo

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Active

118 1st AVE NE Faribault, MN 55021

0.25 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision City/Faribault

MLS Listing ID 7071760

Year Built 1900

Annual Tax Amount $12,862

Tax Year 2026

Contingent None

Lot Size 10,890 Sqft

Lot Dimensions 10,890 SF

Property Description

DOWNTOWN CHARACTER. STREET VISIBILITY. MAJOR IMPROVEMENTS. Located along high-traffic 1st Avenue NE in historic downtown Faribault, this office building combines strong street visibility with the charm and convenience of a walkable downtown setting. Warm brick, signature red awnings, generous windows, and prominent pole signage give the property a distinctive identity, while off-street asphalt parking and a front ramp entry welcome tenants and their clients. A major roof replacement completed in 2026 represents a significant capital investment: replacement of deteriorated decking, reinforcement of existing rafters, all-new insulation, a new membrane roof system, and drainage improvements. Extensive renovations in 2015, along with recent electrical updates and additional commercial improvements, further support the building's professional presentation. The building offers 10 distinct office suites, with eight currently leased and two available for leasing, plus shared conference and reception areas. Existing occupancy provides current income, while the available suites offer an opportunity to grow rental revenue. The downtown setting adds everyday appeal. Restaurants, boutiques, and the Paradise Center for the Arts are within walking distance, and Viaduct Park sits directly across the street. Lunch with a client, coffee between appointments, or a walk after work—all part of a location that connects business with the surrounding community. An income-producing office property with established occupants, visible frontage, downtown amenities, and substantial recent investment in the building.

Location

State MN

County Rice

Zoning Business/Commercial

Rooms

Basement None

Interior

Heating Forced Air

Cooling Central Air

Inclusions Building, Leases

Fireplace No

Exterior

Parking Features Guest Parking, Other, Parking Lot, Paved Lot, Open

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Flat

Present Use Commercial,Office,Professional Service

Building

Story One

Foundation 6450

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories One

New Construction false

Schools

School District Faribault

Listed by James Barta • RE/MAX Experts

NEARBY SCHOOLS & PROPERTIES

David Wall

Agent License ID: 96287-94

+1(715) 203-8301

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