Three-Unit Mixed-Use
1154 Grand Avenue, Saint Paul, MN 55105
Commercial - Saint Paul, MN
Property size:
7,100 SFLot size:
0.21 AcresPrice / SF:
$172/SF- Added:
- Jan 12, 2026
- Days on Market:
- 166
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 1154 Grand Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Business/Commercial
- Parking features
- Parking Lot
- Exterior features
- Brick/Stone
- Standard status
- Active
- APN
- 032823410076
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 37472
Utilities
- Heating system
- Baseboard, Forced Air
Building Details
- Year built
- 1912
- Architectural style
- Other
Listing agent Mark K Hulsey (651) 755-2068
Listing office RE/MAX Results 11200 W 78th Street, Eden Prairie, MN (952) 829-2900
Listing date Jan 12, 2026
MLS# 7008180
Listing URL
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully leased 3‑unit mixed‑use building on Grand Avenue in St. Paul
- ~6.17% cap rate; parking lot immediately behind the building with 11 spaces
- Toppers Pizza occupies the first floor; NNN lease in first 5‑year term expiring June 30, 2029 with an unexercised 5‑year option
- Second floor has two office suites (~1,300 SF each) leased by Hovland Music through 2032
- Billboard lease with Clear Channel adds additional income; expires March 31, 2029
- B2 – Community Business zoning; lot size 0.21 acres with building area ~7,100 SF including basement
Overview
This fully leased three-unit mixed-use building offers a restaurant space on the first floor and two office suites on the second floor, with a basement included in the building area. Toppers Pizza occupies the entire first floor. The second floor contains two office suites previously configured as apartments, with infrastructure that includes bathrooms and kitchens. Both office suites are currently occupied by Hovland Music through 2032. A basement area is also part of the property.
The building is located along Grand Avenue in Saint Paul and features an approximately 11-car parking lot immediately behind the building. The property is described as a corner location at Grand Ave & S Dunlap St, with visibility and pedestrian activity associated with that intersection. The transaction is listed as having additional billboard income, with the billboard lease expiring March 31, 2029.
For buyers, this offering presents a stabilized, income-producing mixed-use asset with defined lease terms: the restaurant is in its first 5-year NNN option term expiring June 30, 2029, with an additional unexercised 5-year option starting July 1, 2029. The office suites are leased through 2032. The property is zoned B2 – Community Business, supporting a wide range of commercial and mixed-use applications, and sits on a lot sized to allow future development considerations.
The building is located along Grand Avenue in Saint Paul and features an approximately 11-car parking lot immediately behind the building. The property is described as a corner location at Grand Ave & S Dunlap St, with visibility and pedestrian activity associated with that intersection. The transaction is listed as having additional billboard income, with the billboard lease expiring March 31, 2029.
For buyers, this offering presents a stabilized, income-producing mixed-use asset with defined lease terms: the restaurant is in its first 5-year NNN option term expiring June 30, 2029, with an additional unexercised 5-year option starting July 1, 2029. The office suites are leased through 2032. The property is zoned B2 – Community Business, supporting a wide range of commercial and mixed-use applications, and sits on a lot sized to allow future development considerations.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.8k | $18.00 |
| − Vacancy | −$5.0k | −$0.70 |
| EGI | $122.8k | $17.30 |
| − OpEx | −$30.7k | −$4.32 |
| NOI | $92.1k | $12.97 |
7,100 SF · lease $18.00/SF/yr · vacancy 3.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,112 @ 7.0% cap · market cap 7.52%
Second Best
Office B
$1.26M
$1.10M – $1.47M
NOI $88,071 @ 7.0% cap · market cap 7.19%
Theoretical Best
Healthcare Medical
$1.75M
$1.53M – $2.04M
NOI $122,305 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.148914
- Latitude
- 44.939695
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Fully leased mixed-use building with a first-floor restaurant and two office suites plus a 11-space parking lot.
Where is this conventional restaurant located?
The property is located at 1154 Grand Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Fully leased 3‑unit mixed‑use building on Grand Avenue in St. Paul; ~6.17% cap rate; parking lot immediately behind the building with 11 spaces; Toppers Pizza occupies the first floor; NNN lease in first 5‑year term expiring June 30, 2029 with an unexercised 5‑year option
