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216-218 S Minnesota Ave 8 Unit Apartment Building $699,900 ($87,488/Unit) 9.82% Cap Rate Saint Peter, MN 56082
Investment Highlights
- 100% occupied mixed-use asset featuring two long-term retail tenants and six fully leased loft apartments in downtown Saint Peter.
- Strong in-place 9.8% cap rate supported by $68,760 NOI, offering immediate cash flow with future rent growth potential.
- 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.
- Saint Peter is just 10 miles north of Mankato and exudes a welcoming, small-town atmosphere in the beautiful Minnesota River Valley.
- Value-add opportunity with below-market rents and organic upside in a non-rent-controlled Minnesota market.
- Additional revenue potential through lower-level storage space, plus parking and garage amenities that enhance demand.
Executive Summary
Opportunity knocks with this three-story, eight-unit mixed-use building for sale in the Central Business District of downtown Saint Peter, Minnesota.
Historical occupancy is strong, as it consistently remains at full capacity. 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 high ceilings and some exposed original brick.
The exterior is all brick, with 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 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's electric utilities, and the owner pays for the boiler heat, water, sewer, and trash.
10-mile demographics confirm a growing population of 32,147 residents with an affluent average household income exceeding $104,600. Each year, the realm generates more than $387.8 million in consumer spending power. Food and beverage retains the largest share of spending, while households and entertainment, hobbies, and pets are not far behind.
A new owner has room to improve cash flow by raising rents organically over the next 1-2 years in a non-rent-controlled city in Minnesota.
Inquire today to get more financials and information.
Historical occupancy is strong, as it consistently remains at full capacity. 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 high ceilings and some exposed original brick.
The exterior is all brick, with 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 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's electric utilities, and the owner pays for the boiler heat, water, sewer, and trash.
10-mile demographics confirm a growing population of 32,147 residents with an affluent average household income exceeding $104,600. Each year, the realm generates more than $387.8 million in consumer spending power. Food and beverage retains the largest share of spending, while households and entertainment, hobbies, and pets are not far behind.
A new owner has room to improve cash flow by raising rents organically over the next 1-2 years in a non-rent-controlled city in Minnesota.
Inquire today to get more financials and information.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$120,000
|
$8.97
|
| Other Income |
$900
|
$0.07
|
| Vacancy Loss |
$1,800
|
$0.13
|
| Effective Gross Income |
$119,100
|
$8.90
|
| Taxes |
$9,690
|
$0.72
|
| Operating Expenses |
$40,649
|
$3.04
|
| Total Expenses |
$50,339
|
$3.76
|
| Net Operating Income |
$68,761
|
$5.14
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $8.97 |
| Other Income | |
|---|---|
| Annual | $900 |
| Annual Per SF | $0.07 |
| Vacancy Loss | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.13 |
| Effective Gross Income | |
|---|---|
| Annual | $119,100 |
| Annual Per SF | $8.90 |
| Taxes | |
|---|---|
| Annual | $9,690 |
| Annual Per SF | $0.72 |
| Operating Expenses | |
|---|---|
| Annual | $40,649 |
| Annual Per SF | $3.04 |
| Total Expenses | |
|---|---|
| Annual | $50,339 |
| Annual Per SF | $3.76 |
| Net Operating Income | |
|---|---|
| Annual | $68,761 |
| Annual Per SF | $5.14 |
Property Facts
Amenities
Site Amenities
- Laundry Facilities
- On-Site Retail
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,150 | 1,500 |
| 1+1 | 4 | $950.00 | 650 - 750 |
| 2+1 | 1 | $1,100 | 1,500 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| China Town | Chinese | $ | 1 min walk |
| Domino’s | - | - | 3 min walk |
| 3rd Street Tavern | - | - | 4 min walk |
| Lone Star BBQ & Grill | - | $$ | 4 min walk |
| Nicollet Cafe | Cafe | $$ | 6 min walk |
| Caribou Coffee | - | - | 7 min walk |
| Dunkin' | Cafe | - | 16 min walk |
| Jimmy John's | - | - | 16 min walk |
| Dairy Queen | - | - | 15 min walk |
| Arby's | - | - | 16 min walk |
Retail |
||
|---|---|---|
| Main Street Stylists | Salon/Barber/Spa | 1 min walk |
| Reflections Salon | Salon/Barber/Spa | 1 min walk |
| Unique Designs By Julie | Massage | 1 min walk |
| Hallmark | Card/Gifts | 2 min walk |
| True Value | Hardware | 2 min walk |
| Southern Minnesota Clay Center | Fitness | 5 min walk |
| Cooks & Co Gourmet | Nutrition Center | 5 min walk |
| Family Dollar | Dollar/Variety/Thrift | 4 min walk |
| BP | Gasoline Station | 9 min walk |
| St Peter Eyecare Center | Optical | 15 min walk |
Hotels |
|
|---|---|
| AmericInn |
50 rooms
2 min drive
|
| Best Western Plus |
60 rooms
3 min drive
|
| Baymont |
60 rooms
14 min drive
|
| Coratel Inn & Suites |
55 rooms
16 min drive
|
| Days Inn |
50 rooms
15 min drive
|
Property Taxes
| Parcel Number | R-19.412.3860 | Total Assessment | $487,200 |
| Land Assessment | $88,900 | Annual Taxes | $9,690 ($0.72/SF) |
| Improvements Assessment | $398,300 | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
R-19.412.3860
Land Assessment
$88,900
Improvements Assessment
$398,300
Total Assessment
$487,200
Annual Taxes
$9,690 ($0.72/SF)
Tax Year
2026 Payable 2026
Sale Advisor
Sale Advisor
Nathan Opatz, Broker/Owner
Nathan Opatz got involved in Real Estate in 1997, at the early age of 19. His first rental property was a HUD owned Tri-plex on Jenks Ave. in Saint Paul, MN. Nathan's passion became teaching others how to search and acquire rental properties in the Minneapolis and St.Paul markets to experience the same results from his investments. In August Nathan passed his Real Estate Test and joined the Roseville Coldwell Banker Burnet Office as a Sales Associate and started to learn how to sell Real Estate.
By 2003, Nathan's connections were multiplying through a unique marketing approach that included specific neighborhood focus searches for buyers, warm-calling new leads, and researching past solds to learn who the serious players were. Because he is so focused on the apartment niche Nathan is able to discern the awesome deals from the just okay deals.
The long term goal for most investors are to build a smooth sailing investment real estate portfolio and minimize management by consolidating smaller buildings into larger projects in desirable neighborhoods. On August 10, 2005, Apartment Realty & Financial Group was formed to help first-time and seasoned investors accomplish this ultimate goal. In the summer of 2012 the Company name was changed to Apartment Cash Flow, Inc. to shorten the name and keep it the same as the website domain name.
By 2003, Nathan's connections were multiplying through a unique marketing approach that included specific neighborhood focus searches for buyers, warm-calling new leads, and researching past solds to learn who the serious players were. Because he is so focused on the apartment niche Nathan is able to discern the awesome deals from the just okay deals.
The long term goal for most investors are to build a smooth sailing investment real estate portfolio and minimize management by consolidating smaller buildings into larger projects in desirable neighborhoods. On August 10, 2005, Apartment Realty & Financial Group was formed to help first-time and seasoned investors accomplish this ultimate goal. In the summer of 2012 the Company name was changed to Apartment Cash Flow, Inc. to shorten the name and keep it the same as the website domain name.
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216-218 S Minnesota Ave
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