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 7.73 %
