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216-218 S Minnesota Ave 6 Unit Apartment Building $1,128,820 CAD ($188,137 CAD/Unit) 8.51% Cap Rate Saint Peter, MN 56082
Investment Highlights
- All Brick Exterior with newer Windows
- 100% fully occupied
- Tenants pay their own electric utilities
- In place 7.60% Cap Rate
Executive Summary
Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional income with your ideas. Each commercial tenant pays for their own utilities including extra for trash. The residents upstairs are responsible for paying their own unit electric utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 8.51% with a net operating income of $67,669. A new owner has room to improve cash flows by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$170,132
|
$12.72
|
| Other Income |
$1,278
|
$0.10
|
| Vacancy Loss |
$2,552
|
$0.19
|
| Effective Gross Income |
$168,859
|
$12.62
|
| Taxes |
$13,049
|
$0.98
|
| Operating Expenses |
$59,725
|
$4.47
|
| Total Expenses |
$72,774
|
$5.44
|
| Net Operating Income |
$96,085
|
$7.18
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $170,132 |
| Annual Per SF | $12.72 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,278 |
| Annual Per SF | $0.10 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,552 |
| Annual Per SF | $0.19 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $168,859 |
| Annual Per SF | $12.62 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,049 |
| Annual Per SF | $0.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $59,725 |
| Annual Per SF | $4.47 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $72,774 |
| Annual Per SF | $5.44 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $96,085 |
| Annual Per SF | $7.18 |
Property Facts
| Price | $1,128,820 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $188,137 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 8.51% | Building Size | 13,376 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 6.68 | No. Stories | 4 |
| No. Units | 6 | Year Built/Renovated | 1890/2000 |
| Property Type | Multifamily | Parking Ratio | 0.45/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Commercial / Residential | ||
| Price | $1,128,820 CAD |
| Price Per Unit | $188,137 CAD |
| Sale Type | Investment |
| Cap Rate | 8.51% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 6.68 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 13,376 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1890/2000 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | Commercial / Residential |
Amenities
Site Amenities
- On-Site Retail
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,846 CAD | 1,600 |
| 2+1 | 1 | $1,562 CAD | 1,600 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | R-19.412.3860 | Total Assessment | $599,624 CAD |
| Land Assessment | $126,229 CAD | Annual Taxes | $13,049 CAD ($0.98 CAD/SF) |
| Improvements Assessment | $473,395 CAD | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
R-19.412.3860
Land Assessment
$126,229 CAD
Improvements Assessment
$473,395 CAD
Total Assessment
$599,624 CAD
Annual Taxes
$13,049 CAD ($0.98 CAD/SF)
Tax Year
2025 Payable 2025
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216-218 S Minnesota Ave
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