Grand Avenue 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:
- 126
- Last Refresh:
- May 18 at 7:06 am
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
- Size
- 7,100 SF
- 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
- Prime Grand Avenue location in St. Paul offering high visibility and strong traffic.
- Mixed‑use building featuring a vacant 2nd‑level office suite, great for owner/user or apartments.
- Significant income potential from established tenants like Toppers Pizza and Hovland Music, plus billboard lease.
- Ample 11‑car parking lot, a valuable amenity.
- B2 zoning allows for a wide range of commercial and mixed‑use applications, with future development potential on the 9,000 sq ft lot.
- Highly walkable location surrounded by national retailers and universities, with strong demographics.
Overview
This three-unit mixed-use building is located on Grand Avenue in St. Paul. The property includes an 11-car parking lot. The first floor is occupied by Toppers Pizza, and the second floor contains two office suites, one of which is currently vacant. The gross building area is approximately 7,100 square feet, including a 2,250 square foot basement. Toppers Pizza occupies approximately 2,250 square feet, and each office suite is approximately 1,300 square feet. The lot size is 9,000 square feet (0.21 acres), allowing for future development potential. The property is zoned B2 – Community Business, which allows for a wide range of permitted commercial and mixed-use applications. The location is highly walkable and surrounded by national retailers, including Starbucks, Kowalski’s, CVS, and Walgreens, as well as the University of St. Thomas, Macalester College, and Concordia University. The property also generates income from a billboard lease with Clear Channel, expiring March 31, 2029. The second floor was previously rented as two apartments and could likely be converted back. Toppers Pizza is in its first 5-year NNN option term, expiring June 30, 2029, with an additional unexercised 5-year option commencing July 1, 2029. One office suite is leased through March 1, 2028, to Hovland Music.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$978.6K
NOI $88,071 @ 9.00% cap · cautious / downside scenario
Moderate
$1.26M
NOI $88,071 @ 7.00% cap · market / base-case scenario
Aggressive
$1.76M
NOI $88,071 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.5k | $22.32 |
| − Vacancy | −$41.0k | −$5.78 |
| EGI | $117.4k | $16.54 |
| − OpEx | −$29.4k | −$4.13 |
| NOI | $88.1k | $12.40 |
7,100 SF · lease $22.32/SF/yr · vacancy 25.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,071 @ 7.0% cap · market cap 7.19%
Second Best
Mixed Use
$1.20M
$1.05M – $1.41M
NOI $84,348 @ 7.0% cap · market cap 6.89%
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
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
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?
Mixed-use property - Three-unit mixed-use building with parking on Grand Avenue.
Where is this mixed-use property 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: Prime Grand Avenue location in St. Paul offering high visibility and strong traffic.; Mixed‑use building featuring a vacant 2nd‑level office suite, great for owner/user or apartments.; Significant income potential from established tenants like Toppers Pizza and Hovland Music, plus billboard lease.
