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For Sale:  Saint Paul MLS# 7008180

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Active
$1,225,000
/mo Edit
Commercial:  Other
Built 1912
0.207 acres
St. Paul schools
MLS# 7008180
763-576-8286
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    Property Description

    - Fully Leased Desirable 3-Unit Mixed-Use building with Parking located along highly sought after Grand Avenue in St. Paul - ~6.17% Cap Rate - Perfect Investor or 1031 Opportunity - 11 car parking lot immediately behind the building. - Toppers Pizza occupies the entire first floor; second floor consists of two office suites (previously apartments), both occupied by Hovland Music - Toppers Pizza is currently in its first 5-year NNN option term, expiring June 30, 2029, with an additional unexercised 5-year option commencing July 1, 2029 - Both office suites are leased by Hovland Music through 2032. - The 2nd floor was previously rented as 2 apartments. Infrastructure remains the same (bathrooms + kitchens) so these could likely be converted back to apartments easily. - Additional income from a billboard lease with Clear Channel, expiring March 31, 2029 - Prime corner location with excellent visibility, strong traffic counts, and high pedestrian activity at Grand Ave & S Dunlap St - Gross building area: ~7, 100 square feet including basement. - Toppers: ~2, 250 SF, Two offices: each ~1, 300 SF, Basement: ~2, 250 SF - Lot Size: 9, 000 square feet (0.21 acres) allowing for future development potential - B2 – Community Business zoning, allowing for a wide range of permitted commercial and mixed-use applications - Highly walkable, amenity-rich location surrounded by national retailers including Starbucks, Kowalski’s, CVS, Walgreens, University of St. Thomas, Macalester College, Concordia University, and many others - Strong demographics, with an average household income of $155, 132 within a 0.3-mile radius

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $1,225,000
    Property Type: Commercial
    City: Saint Paul
    Garage Spaces: 0
    County: Ramsey
    Year Built: 1912
    State: MN
    Property Style: Other
    Zip Code: 55105
    Neighborhood/Area: 100
    Subdivision Name: Manson & Simontons, Addition

    Exterior

    Garage Spaces: 0
    Foundation Size: 2,250 ft2
    Handicap Accessible: None
    Heating System:
    • Baseboard
    • Forced Air
    Parking Features: Parking Lot

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.207
    Geolocation: 44.939695, -93.148914
    Inclusions: Building
    Lot Dimensions: 149 x 60
    Zoning: Business/Commercial

    Schools

    School District: 625
    District Phone: 6517678100

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $37,472
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $37,472

    Units

    Total Units: 3

    Miscellaneous

    Current Use:
    • Commercial
    • Office
    • Retail
    Fuel System:
    • Electric
    • Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Separate
    • Hot Water Separate
    Water System: City Water/Connected

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of RE/MAX Results.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.