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Northfield, MN 55057

New Listing

$1,650,000

Property Type: Commercial Bedrooms: 5 Baths: 3 Square Footage: 18,523 Lot Size (sq. ft.): 6,930 Status: Active

Current Price: $1,650,000 List Date: 6/18/2026 Last Modified: 6/18/2026

Overview

Description

Agent is Owner. Welcome to Historic downtown Northfield. This property is located at the gateway to the Central Downtown or the Corner of Division Street and 5th Street or Directly East of the Historic Cannon River Area. Property is a three-story multi-tenant building with on street parking on 5th Street, Washington Street and Large Public City parking adjoining the property to the east. The building has been lovingly renovated over the 35 years by current ownership including 100% tuckpointed brick exterior, Carlisle membrane roof system with added roof insulation on exterior and interior. Plumbing services updated throughout as well as sewer piping to the street. The electric is a 1200 amp multi-meter system and the heat and cooling zoned with newer condensers and newer boilers. The building features large Marvin Windows on the exterior with interior transit windows in corridors for natural light. Historic trim had remained intact, but steel framed solid core paneled door ... (Read more) Agent is Owner. Welcome to Historic downtown Northfield. This property is located at the gateway to the Central Downtown or the Corner of Division Street and 5th Street or Directly East of the Historic Cannon River Area. Property is a three-story multi-tenant building with on street parking on 5th Street, Washington Street and Large Public City parking adjoining the property to the east. The building has been lovingly renovated over the 35 years by current ownership including 100% tuckpointed brick exterior, Carlisle membrane roof system with added roof insulation on exterior and interior. Plumbing services updated throughout as well as sewer piping to the street. The electric is a 1200 amp multi-meter system and the heat and cooling zoned with newer condensers and newer boilers. The building features large Marvin Windows on the exterior with interior transit windows in corridors for natural light. Historic trim had remained intact, but steel framed solid core paneled doors with window glass for marketing. Also, solid panel oak added to meet fire code. High ceilings with modern LED lighting. All units renovated and updated overall span of ownership. The retail service areas are on Division Street with three retail spaces. On 5th Street mid entry for potential subdivided rental area and to the rear additional storage area, entry to another potential subdivided area and one lofted apartment. Building has a 5th street directory to second level professional offices with bathrooms and coffee center. This same area includes a historic staircase to third level apartments and professional artist center with large lounge and bathroom area. Many long-term tenants dating back 30 + years. Very healthy mix of retail, service, professional office, apartments and professional office. This building is only offered for sale due to owner’s retirement and relocation. The building has been 100% occupied short of change over due to owner’s desire to update or renovate areas when opportunity was created. Wonderful 1031 exchange opportunity for many. Interested parties can request a marketing package with more details and history.

Listing Details MLS# 7093064

General Property Information

Lot Measurement: Square Feet
Management Company Name: Owner Managed
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1865
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Size SqFt: 6930
Foundation Size: 5985
Management Company Phone: 612-685-0605
Power Company: Xcel Energy
For Sale or Lease: For Sale
Lot Dimensions: 66x105
Assessment Pending: No
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: Door Lever Handles; Doors 36"+; Grab Bars In Bathroom; Hallways 42"+ Air Conditioning: Central Air; Window Unit(s); Zoned Amenities Shared: Deck; Security Building Amenities Unit: Balcony; Ceiling Fan(s); City View; Deck; Ethernet Wired; Local Area Network; Multiple Phone Lines; Paneled Doors; Panoramic View; Security Lights; Security System Appliances: Dryer; Microwave; Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments and Retail; Mixed Use; Office Construction Materials: Brick; Frame Construction Status: Previously Owned Current Use: Business Service; Commercial; Office; Professional Service; Residential; Retail Existing Financing: Conventional Exterior: Brick/Stone Fencing: None Flooring: Carpet; Floor Drains Foundation: Brick/Mortar; Stone Fuel: Natural Gas Heating: Boiler; Forced Air; Hot Water; Zoned Internet Options: Fiber Optic; Satellite Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: None Lot Description: Corner Lot; Property Adjoins Public Land; Public Transit (w/in 6 blks); Tree Coverage - Light; Zero Lot Line Miscellaneous Information: 220 Volt; 440 Volt; Alley; Building Sign; Delivery Door; Display Window; Exterior Lighting; Three Phase On Site Utilities: Electric Common; Electric Separate; Heating Common; Heating Separate; Hot Water Common; Hot Water Separate Owner Pays: Common Area Maintenance; Gas; Heat; Insurance; Maintenance/Repair; Management; Repairs; Security; See Remarks; Sewer; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot; Off Site; Paved Lot Potential Use: Income; Office; Other; Professional; Retail Rent Rate per Foot: Gross; Per Foot Rental License Type: Standard Road Frontage: City Street; Paved Streets; Sidewalks; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Pitched; Rubber Sewer: City Sewer - In Street; City Sewer/Connected Shared Rooms: Community Room Stories: Three Or More Tenant Pays: Electricity; Gas; Heat; Hot Water; See Remarks Topography: Gently Rolling; Level Wall Description: Drywall; Other/See Remarks; Plaster Water: City Water - In Street; City Water/Connected Window Features: Aluminum Frames; Blinds; Display Window(s); Double Pane Windows; Insulated Windows; Screens; Stained Glass; Wood Frames

Contract Information

Contingency: None
ListPrice: 1650000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

Postal City: Northfield
County: Rice
State: MN
Zip Code: 55057
Complex/Dev/Subdivision: City/Northfield

Assessments

Assessment Balance: 360
Tax With Assessments: 36998

Basement

Foundation Dimensions: 66x90
None: Yes

More Information

Building Information

Building Finished SqFt: 18523
Building SqFt: 18523
Ceiling Height: Varied Heights

Income and Expenses

Annual Caretaker Expense: 12000
Annual Electric Expense: 4700
Annual Fuel Expense: 6100
Annual Gross Expenses: 75900
Annual Gross Income: 185000
Annual Insurance Expense: 11500
Annual Maintenance Expense: 1000
Annual Net Income: 109100
Annual Repair Expense: 7500
Annual Trash Expense: 3600
Annual Water/Sewer Expense: 3300
Total Annual Expenses: 75900

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
220 Volt: Yes
440 Volt: Yes
Alley: Yes
Building Sign: Yes
Delivery Door: Yes
Display Window: Yes
Exterior Lighting: Yes
Three Phase: Yes

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Business, Fixture/Equipment, Land, Leases, Other, Rental License

Unit 1

Unit Number: 307
Monthly Rent: 1050
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 3
Level: 3rd Level
Unit Total SqFt: 1000
Leased?: Yes
Lease Expiration Date: 2026-12-31
No. of 1 Bedroom Units: Yes

Unit 2

No. of 2 Bedroom Units: 2
Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: 3rd Level
Monthly Rent: 900
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 2
Unit Number: 308
Unit Total SqFt: 900

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1050
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 2
Unit Number: Suite A
Unit Total SqFt: 900

Unit Details

Total Units: 25

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: ORIG TOWN L10 BLK 33 EX E59FT, Rice County
Listing City: Northfield
Map Page: 219
Municipality: Northfield
School District: Northfield
School District Phone: 507-663-0629
Zip Plus 4: 6400
Property ID Number: 2206225038
Tax Year: 2026
Tax Amount: 36638
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Agent is Owner. Welcome to Historic downtown Northfield. This property is located at the gateway to the Central Downtown or the Corner of Division Street and 5th Street or Directly East of the Historic Cannon River Area. Property is a three-story multi-tenant building with on street parking on 5th Street, Washington Street and Large Public City parking adjoining the property to the east. The building has been lovingly renovated over the 35 years by current ownership including 100% tuckpointed brick exterior, Carlisle membrane roof system with added roof insulation on exterior and interior. Plumbing services updated throughout as well as sewer piping to the street. The electric is a 1200 amp multi-meter system and the heat and cooling zoned with newer condensers and newer boilers. The building features large Marvin Windows on the exterior with interior transit windows in corridors for natural light. Historic trim had remained intact, but steel framed solid core paneled doors with window glass for marketing. Also, solid panel oak added to meet fire code. High ceilings with modern LED lighting. All units renovated and updated overall span of ownership. The retail service areas are on Division Street with three retail spaces. On 5th Street mid entry for potential subdivided rental area and to the rear additional storage area, entry to another potential subdivided area and one lofted apartment. Building has a 5th street directory to second level professional offices with bathrooms and coffee center. This same area includes a historic staircase to third level apartments and professional artist center with large lounge and bathroom area. Many long-term tenants dating back 30 + years. Very healthy mix of retail, service, professional office, apartments and professional office. This building is only offered for sale due to owner’s retirement and relocation. The building has been 100% occupied short of change over due to owner’s desire to update or renovate areas when opportunity was created. Wonderful 1031 exchange opportunity for many. Interested parties can request a marketing package with more details and history.
Directions: South on 35W - East on State Highway 19 to Central Downtown Northfield. Property on the corner of 5th Street and Division Street

Accessible

Door Lever Handles: Yes
Doors 36"+: Yes
Grab Bars In Bathroom: Yes
Hallways 42"+: Yes

Air Conditioning

Central Air: Yes
Window Unit(s): Yes
Zoned: Yes

Amenities Shared

Deck: Yes
Security Building: Yes

Amenities Unit

Balcony: Yes
Ceiling Fan(s): Yes
City View: Yes
Deck: Yes
Ethernet Wired: Yes
Local Area Network: Yes
Multiple Phone Lines: Yes
Paneled Doors: Yes
Panoramic View: Yes
Security Lights: Yes
Security System: Yes

Appliances

Dryer: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Construction Materials

Brick: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Brick/Stone: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Floor Drains: Yes

Foundation

Brick/Mortar: Yes
Stone: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Forced Air: Yes
Hot Water: Yes
Zoned: Yes

Internet Options

Fiber Optic: Yes
Satellite: Yes

Lock Box Type

None: Yes

Lot Description

Corner Lot: Yes
Property Adjoins Public Land: Yes
Public Transit (w/in 6 blks): Yes
Tree Coverage - Light: Yes
Zero Lot Line: Yes

Owner Pays

Common Area Maintenance: Yes
Gas: Yes
Heat: Yes
Insurance: Yes
Maintenance/Repair: Yes
Management: Yes
Repairs: Yes
Security: Yes
See Remarks: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Garage Dimensions: No
Parking Lot: Yes
Off Site: Yes
Paved Lot: Yes

Patio, Porch and Deck Features

Awning(s): Yes
Composite Decking: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Paved Streets: Yes
Sidewalks: Yes
Storm Sewer: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Pitched: Yes
Rubber: Yes

Sewer

City Sewer - In Street: Yes
City Sewer/Connected: Yes

Shared Rooms

Community Room: Yes

Stories

Three Or More: Yes

Topography

Gently Rolling: Yes
Level: Yes

Wall Description

Drywall: Yes
Other/See Remarks: Yes
Plaster: Yes

Water

City Water - In Street: Yes
City Water/Connected: Yes

Window Features

Aluminum Frames: Yes
Blinds: Yes
Display Window(s): Yes
Double Pane Windows: Yes
Insulated Windows: Yes
Screens: Yes
Stained Glass: Yes
Wood Frames: Yes

No. of Ranges

Three: Yes

No. of Refrigerators

Four: Yes

Tenant Pays

Electricity: Yes
Gas: Yes
Heat: Yes
Hot Water: Yes
See Remarks: Yes

On Site Utilities

Electric Common: Yes
Electric Separate: Yes
Heating Common: Yes
Heating Separate: Yes
Hot Water Common: Yes
Hot Water Separate: Yes

CMU Style

Apartments and Retail: Yes
Mixed Use: Yes
Office: Yes

Current Use

Business Service: Yes
Commercial: Yes
Office: Yes
Professional Service: Yes
Residential: Yes
Retail: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Downtown: Yes

Potential Use

Income: Yes
Office: Yes
Other: Yes
Professional: Yes
Retail: Yes

Rent Rate per Foot

Gross: Yes
Per Foot: Yes

Listing Office: DF & Company, Inc

Last Updated: June - 18 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.