118 1st Avenue NE,Faribault, MN 55021
Faribault, MN 55021
Description
DOWNTOWN CHARACTER. STREET VISIBILITY. MAJOR IMPROVEMENTS. Located along high-traffic 1st Avenue NE in historic downtown Faribault, this office building combines strong street visibility with the charm and convenience of a walkable downtown setting. Warm brick, signature red awnings, generous windows, and prominent pole signage give the property a distinctive identity, while off-street asphalt parking and a front ramp entry welcome tenants and their clients. A major roof replacement completed in 2026 represents a significant capital investment: replacement of deteriorated decking, reinforcement of existing rafters, all-new insulation, a new membrane roof system, and drainage improvements. Extensive renovations in 2015, along with recent electrical updates and additional commercial improvements, further support the building's professional presentation. The building offers 10 distinct office suites, with eight currently leased and two available for leasing, plus shared conference and reception areas. Existing occupancy provides current income, while the available suites offer an opportunity to grow rental revenue. The downtown setting adds everyday appeal. Restaurants, boutiques, and the Paradise Center for the Arts are within walking distance, and Viaduct Park sits directly across the street. Lunch with a client, coffee between appointments, or a walk after work-all part of a location that connects business with the surrounding community. An income-producing office property with established occupants, visible frontage, downtown amenities, and substantial recent investment in the building.
Details
| MLS # | 7071760 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 150 |
| Listing Provided By | RE/MAX Experts | James E. Barta |
Features
| SQ Feet | 6,450 |
|---|---|
| Story(s) | 1 |
| Units | 10 |
| Zoning | Business/Commercial |
| Acreage | 0.25 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Forced Air |
Exterior
| Roof | Flat |
|---|
Parking
| Parking Features | Guest Parking, Other, Parking Lot, Paved Lot, Open |
|---|
Utilities
| Utilities | Electric Common, Heating Common, Hot Water Common |
|---|
Taxes
| Property | 12862 |
|---|
Area Information
| State | MN |
|---|---|
| County | Rice |
| City | Faribault |
| Zip Code | 55021 |
| Community Name | City/Faribault |
| School District | 656 |
| High School | Faribault |
| Listing VS Median (in City/Faribault) | |
Price: $850,000 low | high Med: $689,000 sqft: 6,450 low | high Med: 12,155 $ / sqft: $132 low | high Med: $57 On site: 150 low | high Med: 469 | |
Market Activity 55021
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Rice |
| City | Faribault |
| Zip Code | 55021 |
| Community Name | City/Faribault |
| School District | 656 |
| High School | Faribault |
| Listing VS Median (in City/Faribault) | |
Price: $850,000 low | high Med: $689,000 sqft: 6,450 low | high Med: 12,155 $ / sqft: $132 low | high Med: $57 On site: 150 low | high Med: 469 | |