Retail Building on Snelling
For Sale
Contact for pricing
285 Snelling Ave N, MN
Two-story retail building with land for sale on Snelling.
Property Size14,950 SF
Lot Size0.31 Acres
Price / SF$200.67
Days on Market473
Property Features for 285 Snelling Ave N
General Information
Standard status
Active
Size
14,950 SF
Lot size
0.31 Acres
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield
(612) 730-7773
Listed By:
Thomas Martin
(612) 730-7773
Source:
Moodyscre
Added: May 5, 2025
Changed: Aug 14
Last Checked: Aug 19 at 2:00PM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
The property features a two-story building with 14,950 square feet of space, situated on 25,470 square feet of land. Note that there are restrictions in place, prohibiting use as a convenience store, car wash, coffee shop, or dollar store. The property is located on Snelling Avenue North in St. Paul, MN.
Key Highlights
- 14,950 SF Building (2 Story)
- 25,470 SF Land
- Restricted Use (No C‑Store, Car Wash, Coffee, Dollar Store)
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
$164,414
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
5.48%
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%
$3,288,280
$3.3M
Cap Rate 7%
$2,348,771
$2.3M
Cap Rate 9%
$1,826,822
$1.8M
Market Conditions
NOI Build-Up for 14,950 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
$254.7K $17.04/SF
− Vacancy
−$19.9K −$1.33/SF
EGI
$234.9K $15.71/SF
− OpEx
−$70.5K −$4.71/SF
NOI
$164.4K $11.00/SF
Area
MN
Vacancy
7.80%
Lease Rate
$17.04 /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%
$3,288,280
Cap Rate 7%
$2,348,771
Cap Rate 9%
$1,826,822
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.74M
NOI $164,414 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.25M – $4.33M
NOI $260,051 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
148k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Shops & Services 25%
Dining 18%
Apparel 3%
Cub Foods
Groceries
45,911 visits/mo
0.4 miles
Whole Foods Market
Groceries
33,705 visits/mo
0.1 miles
Starbucks
Dining
12,512 visits/mo
0.1 miles
Speedway
Shops & Services
11,091 visits/mo
0.4 miles
Dollar Tree
Shops & Services
9,492 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail building with land for sale on Snelling.
Where is this retail space located?
The property is located at 285 Snelling Ave N MN.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 14,950 SF Building (2 Story); 25,470 SF Land; Restricted Use (No C‑Store, Car Wash, Coffee, Dollar Store)
