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216-218 S Minnesota Ave
Saint Peter, MN 56082

$699,900 USD

Apartments For Sale  •  13,376 SF

Property Details

  • Property Type Apartments
  • Total Building Size 13,376 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1890
  • Cap Rate 10.13 %
  • Zoning Commercial / Residential
60 Walk Score

Highlights

100% occupied mixed-use asset featuring two long-term retail tenants and six fully leased loft apartments in downtown Saint Peter.
Saint Peter is just 10 miles north of Mankato and exudes a welcoming, small-town atmosphere in the beautiful Minnesota River Valley.
Strong in-place 10.13% cap rate supported by $70,890 NOI, offering immediate cash flow with future rent growth potential.
Value-add opportunity with below-market rents and organic upside in a non-rent-controlled Minnesota market.
Mix consists of one studio, one two-bed, and four one-bedroom units, aligning with 64% of 10-mile demographics being one- or two-person occupied.
Additional revenue potential through lower-level storage space, plus parking and garage amenities that enhance demand.

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $70,142 USD (2026)
Cap Rate: 10.13 %
Total Expenses: $50,339 USD

Major Tenants

Tenant SF Occupied Lease End Date
Collective Memories Antiques
Playing Possum

Amenities

  • Laundry Facilities
  • On-Site Retail
  • Vintage Building

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 6
Type: Surface
Included in Rent: Yes
Nathan Opatz Apartment Cash Flow, Inc
Nathan Opatz Apartment Cash Flow, Inc