1150 3rd ST SW Active Save Request In-Person Tour Request Virtual Tour
Faribault,MN 55021
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision State
MLS Listing ID 6701607
Year Built 1973
Annual Tax Amount $8,506
Lot Size 5,950 Sqft
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
Community State
Interior
Heating Boiler
Exterior
Parking Features Garage Door Opener,No Int Access to Dwelling,Paved Lot
Garage Spaces 2.0
Utilities Available Electric Common,Heating Common,Hot Water Common
Roof Type Age 8 Years or Less
Building
Lot Description Tree Coverage - Light
Water City Water/Connected