Mixed-Use Office/Retail Building with
For Sale
Contact for pricing
1048-1050 Selby Ave, Saint Paul, MN 55104
Mixed-use office/retail main level with private entrances and second-floor apartments.
Property Size4,794 SF
Price / SF$116.60
Days on Market743
Property Features for 1048-1050 Selby Ave
General Information
Standard status
Active
Size
4,794 SF
Property subtype
RETAIL
Additional Details
Asking Price
$559,000
Amenities
Private entrances
Shared restroom
Building Details
Buildings
1
Stories
2
Building Size
4,794 SF
Tenancy
Multi
Listing Agency:
Metro East Commercial Real Estate
(651) 323-8454
Listed By:
Scott Kragness
(651) 323-8454
Source:
Moodyscre
Added: Jul 19, 2024
Changed: Jul 31
Last Checked: Jul 31 at 6:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Metro East Commercial Real Estate
Investment Insights
Based on property information with market context.
This mixed-use office/retail building includes approximately 4,794 SF, with commercial space on the main level and two residential apartments on the second floor. The main level is 100% air conditioned and includes basement storage. The second floor provides two apartment units, including a 3-bedroom and a 2-bedroom, both serviced by window air conditioners.
The property features private entrances and a shared restroom serving the commercial area. Easy access to Lexington Pkwy supports convenient day-to-day use for tenants and visitors. Heating units were replaced in 2021.
With a configuration that separates commercial and residential components, the building is designed for users who want an on-site mix of office/retail activity and apartment living.
The property features private entrances and a shared restroom serving the commercial area. Easy access to Lexington Pkwy supports convenient day-to-day use for tenants and visitors. Heating units were replaced in 2021.
With a configuration that separates commercial and residential components, the building is designed for users who want an on-site mix of office/retail activity and apartment living.
Key Highlights
- 4,794 SF mixed‑use office/retail building
- Two main‑floor commercial suites with basement storage
- Two second‑floor apartment units: one 3‑bedroom and one 2‑bedroom
Financial Insights For 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 | $86.3k | $18.00 |
| − Vacancy | −$14.1k | −$2.93 |
| EGI | $72.2k | $15.07 |
| − OpEx | −$21.7k | −$4.52 |
| NOI | $50.6k | $10.55 |
4,794 SF · lease $18.00/SF/yr · vacancy 16.30% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.6K – $1.17M
NOI $70,044 @ 7.0% cap · market cap 12.53%
Second Best
Apartment 5plus
$919.1K
$804.2K – $1.07M
NOI $64,334 @ 7.0% cap · market cap 11.51%
Theoretical Best
Healthcare Medical
$1.18M
$1.03M – $1.38M
NOI $82,581 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Market
Properties on Market for Mixed-use properties in Saint Paul
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use office/retail main level with private entrances and second-floor apartments.
Where is this mixed-use property located?
The property is located at 1048-1050 Selby Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 4,794 SF mixed‑use office/retail building; Two main‑floor commercial suites with basement storage; Two second‑floor apartment units: one 3‑bedroom and one 2‑bedroom
