118 1st Avenue NE, Faribault, MN 55021

Property 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 in 2026 represents a significant capital investment extending beyond the roof surface. Work included replacement of deteriorated decking, reinforcement of existing rafters, two layers of new rigid foam insulation, a new black membrane roof system, and improvements to roof drainage. 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.