Faribault Homes with Apartments and Retail Style

Welcome to Faribault, Minnesota—a charming city nestled in Rice County that beautifully blends small-town warmth with vibrant community spirit. With a rich history dating back to the mid-1800s, Faribault boasts a unique character that draws residents and visitors alike. The city is renowned for its stunning architecture, including the historic Faribault Woolen Mill, and its picturesque landscapes that are perfect for outdoor enthusiasts.

Faribault’s real estate market offers an exciting array of homes that cater to diverse lifestyles, including properties with apartments and retail-style spaces. Imagine living in a beautifully designed home where you can enjoy the convenience of having a cozy apartment for guests or even generating rental income. These unique properties often feature spacious layouts, modern amenities, and the potential for vibrant storefronts that can enhance the local economy.

The community is known for its friendly atmosphere, making it an ideal place for families, young professionals, and retirees. With an array of local shops, delightful restaurants, and cultural attractions, residents can easily immerse themselves in the rich tapestry of life in Faribault. Whether you’re strolling through the historic downtown district, enjoying the serene beauty of the nearby rivers and parks, or attending one of the many local festivals, there’s always something to see and do.

Explore the opportunities that await in Faribault, where charming homes with apartments and retail spaces are just a part of what makes this city a wonderful place to call home. Come discover your dream property in this delightful community today!

Newest Faribault Homes with Apartments and Retail Style

$350,000

7142833 MLS

Prime Downtown Faribault Commercial & Mixed-Use Opportunity. Discover the possibilities in the heart of downtown Faribault with this versatile commercial property offering a unique opportunity for an owner-user, entrepreneur, or investor. The main-level commercial space is currently vacant and ready for its next chapter, with a layout and location well suited for a variety of business concepts. Previously operated as a restaurant, the space could be ideal for a new dining establishment, retail business, office, personal service, entertainment venue, or even a food-truck operator ready to establish a permanent brick-and-mortar location. Adding to the appeal, the property includes a fully leased apartment above the commercial space, providing immediate rental income while offering the potential for future owner occupancy. The property is zoned Central Business District (CBD), allowing for a broad range of commercial uses, including retail, financial services, office space, personal services, and entertainment. Residential use is also permitted as an accessory use when located above a first-floor commercial use. With its prominent downtown location, flexible zoning, existing rental income, and adaptable commercial space, this property presents an excellent opportunity to establish a business, expand an existing venture, or add a versatile mixed-use asset to your investment portfolio.

508 Central Avenue N, Faribault

Listing courtesy of Edina Realty, Inc..

$1,095,000

8 Beds ⋅ 8 Baths ⋅ 7135428 MLS

Investment opportunity in the heart of downtown Faribault. This 9-unit mixed-use property consists of eight renovated residential apartments and one commercial space. The residential units have been extensively renovated with updated kitchens, bathrooms, flooring, and finishes, along with new electric baseboard heat, allowing residents to control and pay for their own heating costs. Additional capital improvements include a newer roof with a transferable warranty and a new fire panel. The commercial space is leased through December 2030, providing in-place income, while the eight renovated residential units are currently vacant, giving the next owner the opportunity to complete lease-up and stabilize the property. Commercial tenant pays their own gas/electric/trash/sewer/internet and is in charge of HVAC maintenance. Convenient downtown location near businesses, restaurants, and services. An opportunity to acquire a substantially improved mixed-use asset with much of the renovation and capital improvement work already completed.

14 3rd Street NW, Faribault

Listing courtesy of RE/MAX Results.

$279,000

7129070 MLS

You can’t miss this one! Sitting proudly on a prominent corner along Central Avenue, this historic downtown building has the kind of presence that naturally welcomes people into the heart of Faribault. With windows, visibility, and exposure from the main downtown corridor, it’s a property that gets noticed, and one that is ready to become part of the energy happening downtown. Surrounded by destinations like the Paradise Center for the Arts, the Bachrach Building, 310 Event Center, 10,000 Drops Distillery, Redemption Restaurant, and an eclectic mix of locally owned businesses, this location puts you right in the middle of it all. Once home to a beloved flower shop, the main floor is filled with character and ready for a fresh vision. Its highly visible corner location creates an inviting presence for a boutique, café, salon, studio, gallery, office, retail concept, or gathering space. Whatever comes next, this is a building made to welcome people through its doors. Upstairs, even more opportunity awaits. Previously configured as two apartments, the upper level offers flexibility for future residential use-whether reimagined as apartments, rentals, or a one-of-a-kind downtown residence. There’s something special about a corner building. It doesn’t just sit on the block-it helps define it. For an entrepreneur, investor, or creative visionary looking to make their mark downtown, this is an opportunity to own a piece of Faribault history in a location that truly stands out. A beloved past. A front-and-center location. And so much possibility for what comes next. This downtown beauty is ready to bloom again!

329 Central Avenue N, Faribault

Listing courtesy of eXp Realty.

$409,000

7115327 MLS

Investment opportunity meets historic downtown charm! This beautifully maintained mixed-use building offers the rare combination of immediate income, exceptional condition, and long-term flexibility in the heart of Faribault's thriving downtown district. With a well-established commercial tenant occupying the fully renovated main level and two beautifully updated, fully furnished, charming & well-kept apartments above (one 1-bedroom and one 2-bedroom), this is the kind of turnkey investment that's becoming increasingly difficult to find. Whether you're looking to expand your investment portfolio, operate a successful short- or mid-term rental business, or enjoy owner-occupancy while offsetting your expenses with rental income, this property offers incredible versatility. The current owner has poured years of care, thoughtful improvements, and significant investment into the building, creating a property that's ready for its next chapter-allowing you to step in and immediately enjoy the rewards. One of the standout features is the full basement with a rare tuck-under garage and overhead door, an amenity seldom found in historic downtown buildings. The lower level provides abundant storage and has even served as a private workout room and retreat for a previous commercial occupant, offering endless possibilities for future use. The main-floor commercial space has been extensively renovated, including an ADA-accessible restroom, creating a welcoming and functional environment for today's businesses. Upstairs, the apartments blend historic character with modern finishes, offering stylish, move-in-ready living spaces that appeal to both long- and short-term tenants. Located on one of Faribault's most vibrant downtown blocks, you'll be surrounded by locally loved shops, restaurants, coffee houses, and entertainment, all within walking distance. The property's proximity to popular destinations like the area's wedding venues and Shattuck-St. Mary's creates strong demand for quality housing and rental opportunities year-round. Properties like this don't come along often, a lovingly restored, income-producing downtown building with multiple revenue streams, exceptional updates, and endless possibilities for both investors and owner-occupants. Come experience the charm, opportunity, and potential this remarkable property has to offer.

213 Central Avenue N, Faribault

Listing courtesy of eXp Realty.

$1,200,000

7114244 MLS

Outstanding opportunity to purchase or lease a highly visible commercial building just off Interstate 35 in Faribault. This 4,118 SF former Speedway convenience store sits on approximately 0.53 acres with excellent frontage and exposure along Lyndale Avenue. The property features an open retail layout, commercial kitchen infrastructure including a working exhaust hood, walk-in freezer, and existing cooler cases, making it well-suited for restaurant, convenience store, grocery, specialty retail, food service, or a variety of commercial uses. Surrounded by national retailers and restaurants with approximately 12,000-13,000 vehicles per day, this location offers exceptional visibility and accessibility. Available for sale at $1,200,000 or lease at $20.00/SF Modified Gross.

311 Lyndale Avenue N, Faribault

Listing courtesy of Revival Commercial Real Estate.

$319,900

2 Beds ⋅ 1 Baths ⋅ 6818781 MLS

This unique combination commercial and residential property boasts a cozy 2- Bedroom apartment in a prime, centrally located area. With numerous upgrades, the building features modern amenities and stylish finishes. The property is situated in a vibrant, high-traffic zone, ensuring great visibility for any commercial needs. Plus, it's fully handicap accessible, making it convenient and inclusive for everyone. So if you have a business concept and would like to have some supplemental income to offset your mortgage, this one's for you! A great investment opportunity.

511 4th Street NW, Faribault

Listing courtesy of Edina Realty, Inc..

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