Brick Apartment Building with Renovated
New
For Sale
$1,649,000
105 Park Street E, South Saint Paul, MN 55075
Twelve-unit garden-style property with updated common areas, individual electric heat, detached garages, and off-street parking.
Property Size10,902 SF
Price / SF$151.26
Days on Market6
Property Features for 105 Park Street E
General Information
Standard status
Active
Size
10,902 SF
Total Parking Spaces
22
Property subtype
Commercial
Zoning
Multiple-dwelling
Units
Unit Mix
11 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
12
Additional Details
Highway Access
Yes
Amenities
balconies
patios
laundry
storage lockers
air conditioning
Building Details
Year Built
1978
Buildings
1
Construction
brick and stucco
Listing Agency:
Counselor Realty Detroit Lakes
(612) 445-4981
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 8:58AM
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 Counselor Realty Detroit Lakes
Investment Insights
Based on property information with market context.
Located at 105 Park Street E in South Saint Paul, The Park Apartments is a 12-unit garden-style property built in 1978. The 10,902-square-foot building has an all-brick and stucco exterior, flat roofing, individual electric baseboard heaters, wall-mounted air conditioning units, balconies serving eight upper-floor units, and private patios for two south-facing garden apartments.
Five apartments have been renovated with updated flooring, bathrooms, kitchens, fixtures, doors, blinds, and stainless steel appliances. Common areas were painted and carpeted in 2024, while a new water softener system and exterior concrete steps were added in 2025. The property includes two sets of seller-owned Maytag coin laundry machines, three hallway storage lockers, four detached two-car garage stalls, and 14 off-street parking spaces.
The property is zoned Multiple-dwelling and sits just off Highway 494, between Highways 52 and 61. Its South St. Paul setting is near the Mississippi River, Kaposia Landing, the Mississippi River Greenway, and Minneapolis-Saint Paul International Airport.
Five apartments have been renovated with updated flooring, bathrooms, kitchens, fixtures, doors, blinds, and stainless steel appliances. Common areas were painted and carpeted in 2024, while a new water softener system and exterior concrete steps were added in 2025. The property includes two sets of seller-owned Maytag coin laundry machines, three hallway storage lockers, four detached two-car garage stalls, and 14 off-street parking spaces.
The property is zoned Multiple-dwelling and sits just off Highway 494, between Highways 52 and 61. Its South St. Paul setting is near the Mississippi River, Kaposia Landing, the Mississippi River Greenway, and Minneapolis-Saint Paul International Airport.
Key Highlights
- 12 garden‑style apartments in a 10,902 sqft building constructed in 1978
- 11 two‑bedroom units and 1 one‑bedroom unit
- Five of the 12 apartments have been fully renovated
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$146,302
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,926,040
$2.9M
Cap Rate 7%
$2,090,029
$2.1M
Cap Rate 9%
$1,625,578
$1.6M
Market Conditions
NOI Build-Up for 10,902 SF
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.
Gross rent
$283.9K $26.04/SF
− Vacancy
−$17.9K −$1.64/SF
EGI
$266.0K $24.40/SF
− OpEx
−$119.7K −$10.98/SF
NOI
$146.3K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,926,040
Cap Rate 7%
$2,090,029
Cap Rate 9%
$1,625,578
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,302 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.68M
$2.35M – $3.13M
NOI $187,798 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 55075, MN
20,749
Population
8,460
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
3,705
Density / Sq Mi
$84,573
Median Household Income
$48,724
Median Earnings
$1,128
Median Rent
$267,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit garden-style property with updated common areas, individual electric heat, detached garages, and off-street parking.
Where is this apartment building located?
The property is located at 105 Park Street E South Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: 12 garden‑style apartments in a 10,902 sqft building constructed in 1978; 11 two‑bedroom units and 1 one‑bedroom unit; Five of the 12 apartments have been fully renovated
