Downtown Redevelopment
For Sale
Contact for pricing
109 9th Street East, Saint Paul, MN 55101
For-sale commercial property in downtown St. Paul, suited for redevelopment across retail, office, and specialty uses.
Property Size15,394 SF
Price / SF$129.92
Days on Market63
Property Features for 109 9th Street East
General Information
Standard status
Active
Size
15,394 SF
Property subtype
Retail, Office, Special Purpose
Investment Type
Owner/User
Building Details
Year Built
1970
Buildings
1
Tenancy
Single
Listing Agency:
Brisky Net Lease
(612) 413-4200
Listed By:
Brian Brisky · License #MN 40546562
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 8 at 8:54AM
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 Brisky Net Lease
Investment Insights
Based on property information with market context.
This for-sale commercial property is offered as a redevelopment opportunity and is associated with a mix of commercial asset types, including retail space, office space, and day care center or other specialty uses. The property is identified as 109 9th Street East, St Paul, MN 55101, and it is being marketed as part of downtown reinvestment.
The listing’s public remarks position the asset near a significant downtown revitalization effort referenced as approximately $1B. As presented, the property’s value proposition centers on its redevelopment potential within a downtown context.
For buyers and operators evaluating repositioning, the most practical way to underwrite this asset is to confirm the current building condition and how the site and improvements can be adapted to a targeted use from the listed categories. Given the broad set of supported asset types (retail, office, and specialty/day care), prospective buyers should focus due diligence on feasibility for their intended concept, along with any required approvals and allowable use considerations associated with the redevelopment plan.
The listing’s public remarks position the asset near a significant downtown revitalization effort referenced as approximately $1B. As presented, the property’s value proposition centers on its redevelopment potential within a downtown context.
For buyers and operators evaluating repositioning, the most practical way to underwrite this asset is to confirm the current building condition and how the site and improvements can be adapted to a targeted use from the listed categories. Given the broad set of supported asset types (retail, office, and specialty/day care), prospective buyers should focus due diligence on feasibility for their intended concept, along with any required approvals and allowable use considerations associated with the redevelopment plan.
Key Highlights
- For‑sale commercial property in downtown St. Paul, suited for redevelopment
- Building was built in 1970
- Positioned for retail, office, and specialty uses
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
$162,348
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
8.12%
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%
$3,246,960
$3.2M
Cap Rate 7%
$2,319,257
$2.3M
Cap Rate 9%
$1,803,867
$1.8M
Market Conditions
NOI Build-Up for 15,394 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
$277.1K $18.00/SF
− Vacancy
−$45.2K −$2.93/SF
EGI
$231.9K $15.07/SF
− OpEx
−$69.6K −$4.52/SF
NOI
$162.3K $10.55/SF
Area
Dakota County, MN
Vacancy
16.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,246,960
Cap Rate 7%
$2,319,257
Cap Rate 9%
$1,803,867
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,348 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.79M
$3.31M – $4.42M
NOI $265,177 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,309
Businesses Nearby
56k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 82%
Shops & Services 14%
Dining 4%
Holiday Inn St. Paul Downtown
Hotels & Casinos
21,977 visits/mo
0.5 miles
Hampton Inn and Suites Downtown St. Paul
Hotels & Casinos
9,558 visits/mo
0.5 miles
Drury Plaza Hotel
Hotels & Casinos
6,733 visits/mo
0.3 miles
BP
Shops & Services
6,179 visits/mo
0.2 miles
Springhill Suites St. Paul Downtown
Hotels & Casinos
3,978 visits/mo
0.3 miles
Demographics for 55101, MN
7,788
Population
5,651
Households
1.4
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
0.8 sq mi
ZIP Area
9,735
Density / Sq Mi
$72,703
Median Household Income
$56,947
Median Earnings
$1,573
Median Rent
$252,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Day care center - For-sale commercial property in downtown St. Paul, suited for redevelopment across retail, office, and specialty uses.
Where is this day care center located?
The property is located at 109 9th Street East Saint Paul, MN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: For‑sale commercial property in downtown St. Paul, suited for redevelopment; Building was built in 1970; Positioned for retail, office, and specialty uses
