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$1,225,000
Est. payment /mo
9,000 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Manson & Simontons, Addition
MLS Listing ID 7008180
Year Built 1912
Annual Tax Amount $37,472
Tax Year 2025
Contingent None
Lot Size 9000.000 Acres
Lot Dimensions 149x60
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
- ~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
Location
State MN
County Ramsey
Zoning Business/Commercial
Interior
Heating Baseboard, Forced Air
Inclusions Building
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate, Heating Separate, Hot Water Separate
Present Use Commercial,Office,Retail
Building
Foundation 2250
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District St. Paul
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