119 N Minnesota St, New Ulm, MN for sale

Investment Overview

Well-maintained two-story downtown building currently home to an established retail gift shop, with a basement level and second floor offering strong value-add potential. Main floor features pressed-tin ceilings, exposed brick, hardwood and vinyl plank flooring, a rear skylight, and a handsome original wood staircase — all fronting a tall storefront window on an active downtown block. The second floor retains an existing kitchen, bathroom, and multiple separate rooms currently used for storage — infrastructure already in place for a residential conversion or additional rentable unit(s). A full basement offers extensive built-in shelving and additional storage or utility space. An unfinished attic level adds further expansion potential. Ideal for an investor seeking a cash-flowing retail asset today with a clear path to upper-floor housing conversion in a historic, walkable downtown corridor.

Investment Highlights

• Established main-floor retail with strong street visibility
• Historic character: tin ceilings, exposed brick, skylight
• Second floor with existing kitchen/bath — apartment conversion potential
• Full basement with built-in storage infrastructure
• Unfinished attic for future expansion
• Walkable downtown New Ulm location