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508 Central Ave N 2,838 SF Vacant Retail Building Faribault, MN 55021 $556,972 CAD ($196.26 CAD/SF)

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EXECUTIVE SUMMARY

Prime Downtown Faribault Commercial Opportunity. Situated in the heart of downtown Faribault, this versatile commercial property offers exceptional potential. Formerly operating as a restaurant, the main level is currently vacant and ready for a new business venture. Above the commercial space is a fully leased apartment, providing steady rental income or the option for owner occupancy. Zoned Central Business District (CBD), this property allows for a wide range of uses including retail, financial services, office space, personal services, and entertainment. Residential units are also permitted as an accessory use when located above a first-floor commercial use. Whether you're looking to launch a new business, transition your food truck into a brick-and-mortar location, or invest in a mixed-use property, this is a rare opportunity with unlimited potential. Showings of apartment will require 24 hours’ notice. All information is deemed reliable, but it is not guaranteed. Buyer and buyer's agent to verify all information.

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,838 SF
Building Class
C
Year Built
1910
Price
$556,972 CAD
Price Per SF
$196.26 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.83
Lot Size
0.08 AC
Opportunity Zone
Yes
Frontage
19’ on Central Ave N

AMENITIES

  • Signage
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
18.31.1.26.170
Land Assessment
$119,360 CAD
Improvements Assessment
$345,035 CAD
Total Assessment
$464,394 CAD
  • Listing ID: 37739048

  • Date on Market: 2025-09-19

  • Last Updated:

  • Address: 508 Central Ave N, Faribault, MN 55021

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