Nicollet Homes with Apartments/Multi Family Style

Welcome to Nicollet County, a hidden gem nestled in the heart of Minnesota, where scenic landscapes and a vibrant community come together to create an idyllic living environment. Located just a stone's throw from the picturesque city of Saint Peter, Nicollet County offers a unique blend of rural charm and urban convenience, making it an attractive destination for families, professionals, and retirees alike.

Saint Peter, the county seat, is known for its rich history, friendly atmosphere, and a strong sense of community. With its tree-lined streets, beautiful parks, and a variety of local shops and restaurants, residents enjoy a lifestyle that balances tranquility with accessibility. Whether you're exploring the historic downtown area or taking a leisurely stroll along the Minnesota River, there's always something to captivate your senses.

For those seeking multi-family housing options, Nicollet County boasts a diverse selection of homes with apartments that cater to a variety of lifestyles. These properties offer the perfect blend of comfort and convenience, making them ideal for investors looking to expand their portfolios or families seeking additional rental income. From charming duplexes to modern apartment complexes, the options are plentiful, ensuring that you can find the perfect fit for your needs.

Living in Nicollet County means embracing a community that values connection and inclusivity. With excellent schools, recreational opportunities, and a strong local economy, it's no wonder that so many are choosing to call this area home. Discover the beauty of Nicollet County and explore the multi-family housing options that await you in Saint Peter—your dream home is just around the corner!

Newest Nicollet Homes with Apartments/Multi Family Style

$2,250,000

6825253 MLS

THIS IS A ONCE IN A LIFE-TIME OPPORTUNITY TO ACQUIRE A DOWNTOWN SAINT PETER ICONIC MIXED-USE BUILDING! ORIGINALLY CONSTRUCTED IN 1872 AS THE TOWNS MAIN HOTEL HANGOUT, THIS PROPERTY HAS SINCE BEEN CONVERTED INTO MAIN FLOOR AND LOWER LEVEL COMMERCIAL SPACES, 3-STORY ROW HOUSES, AND SECOND & THIRD FLOOR APARTMENTS. THE TOTAL GROSS BUILDING SQUARE FOOTAGE IS JUST OVER 24,000+. AFTER THE DEVASTATING 1998 TORNADO, A GROUP OF INVESTORS CAME TOGETHER TO SAVE THIS HISTORIC PIECE OF REAL ESTATE AND REPLACED THE ROOFS, WINDOWS, INSTALLED A NEW ELEVATOR, TUCK POINTED THE EXTERIOR BRICK, AND ADDED MAINTENANCE FREE METAL COPING AROUND THE WHOLE TOP OF THE STRUCTURE. THE 2ND & 3RD FLOOR APARTMENTS FEATURE TALL CEILING HEIGHTS AND UPDATED KITCHENS & BATHROOMS. IN THE BACK OF THE PROPERTY THERE ARE FOUR ROW HOUSES EACH WITH UNIQUE LAYOUTS AND SOME WITH THREE STORIES. TWO OF THESE ROW-HOUSES ARE 1BD, 1BA AND THE OTHER TWO ARE 2BD + DEN, 1BA. YOU WILL DEFINITELY WANT TO TOUR THIS BUILDING!! PRO-FORMA NOI $193,415 / CAP RATE 8.60 %

122 S Minnesota Avenue, Saint Peter

Listing courtesy of Apartment Cash Flow, Inc..

$795,000

6821093 MLS

Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. 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 tall ceiling heights and some exposed original brick. The exterior is all brick and has received all 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 also 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 electric utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 8.51% with a net operating income of $67,669. A new owner has room to improve cash flows by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.

216 S Minnesota Avenue, Saint Peter

Listing courtesy of Apartment Cash Flow, Inc..

Start Your Search

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.