Four-Level Mixed-Use
1208 Grand Avenue, Saint Paul, MN 55105
For Sale
$699,000
Separate entrances and utilities support concurrent commercial occupants, with salon, wellness, and office areas across multiple levels.
Property Size4,302 SF
Price / SF$162.48
Days on Market81
Property Features for 1208 Grand Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Road Access
Utilities to Site
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Medical Specialty
Taxes and HOA fees
Annual Taxes
Amenities
covered porch
landscaped gardens
conference room
break room
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
LaBelle Real Estate Group Inc
(651) 705-0166
Listed By:
Michael J. Labelle
(612) 840-2210
Source:
Kerbercastle
Added: Aug 26
Changed: Nov 12
Last Checked: Nov 13 at 2:55AM
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 LaBelle Real Estate Group Inc
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Investment Insights
Based on property information with market context.
Built in 1913, this 4,302-square-foot commercial property spans four levels and is zoned Business/Commercial. The main floor is configured as a hair and nail salon, while the lower level has been used for massage and bodywork. The second and third floors contain reception space, private offices, meeting space, storage, and break areas; those office levels are leased through February 2027. Separate entrances and utilities allow the building to serve multiple occupants. Improvements include a new boiler and water heater, sewer line replacement to the municipal connection, plumbing work, refreshed exterior stairs, landscaping, and an updated salon sink and console.
The property fronts Grand Avenue at 1208 Grand Avenue in Saint Paul. A private parking lot accommodates 11 vehicles. The upper office floors were remodeled in 2007 and include built-in cabinetry and wood trim.
The property fronts Grand Avenue at 1208 Grand Avenue in Saint Paul. A private parking lot accommodates 11 vehicles. The upper office floors were remodeled in 2007 and include built-in cabinetry and wood trim.
Key Highlights
- 4,302 square feet across four levels; built in 1913
- Business/Commercial zoning
- Office levels leased through February 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,086
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,720
$1.0M
Cap Rate 7%
$729,800
$729.8K
Cap Rate 9%
$567,622
$567.6K
Market Conditions
NOI Build-Up for 4,302 SF
Gross rent
$94.5K $21.96/SF
− Vacancy
−$26.4K −$6.13/SF
EGI
$68.1K $15.83/SF
− OpEx
−$17.0K −$3.96/SF
NOI
$51.1K $11.87/SF
Area
Ramsey County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,720
Cap Rate 7%
$729,800
Cap Rate 9%
$567,622
Alternative Uses
Best Use
Office B
$729.8K
$638.6K – $851.4K
NOI $51,086 @ 7.0% cap · market cap 7.31%
Second Best
Mixed Use
$696.6K
$609.5K – $812.7K
NOI $48,761 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.03M
$898.1K – $1.20M
NOI $71,846 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
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Business Placement
Demographics for 55105, MN
28,812
Population
12,045
Households
2.4
Avg Household Size
33
Median Age
78%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
8,232
Density / Sq Mi
$108,200
Median Household Income
$51,131
Median Earnings
$1,240
Median Rent
$453,300
Median Home Value
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Market
Properties on Market for Mixed-use properties in Saint Paul
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate entrances and utilities support concurrent commercial occupants, with salon, wellness, and office areas across multiple levels.
Where is this mixed-use property located?
The property is located at 1208 Grand Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,302 square feet across four levels; built in 1913; Business/Commercial zoning; Office levels leased through February 2027
