Renovated Historic Office
For Sale
Contact for pricing
289 5th St E, Saint Paul, MN 55101
Recently renovated open-plan office with meeting rooms and furniture included, built for 20–40 people.
Property Size5,516 SF
Price / SF$162.98
Days on Market982
Property Features for 289 5th St E
General Information
Standard status
Active
Size
5,516 SF
Property subtype
OFFICE
Listing Agency:
Colliers
(651) 734-5468
Listed By:
Rob Davis
(651) 734-5468
Source:
Moodyscre
Added: Nov 22, 2023
Changed: Jul 26
Last Checked: Jul 30 at 8:19AM
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 Colliers
Investment Insights
Based on property information with market context.
This renovated office suite features a historic character and architectural design, with an open-plan concept that blends large open work areas with meeting rooms. The space is highlighted by recently updated high-end finishes, including flooring and tile, and is designed to accommodate up to 20–40 people. Architecture for the space is credited to Shelter Architecture, and all furniture is included.
Convenient access to public transit is available, along with street parking and multiple parking lots for visitors and staff.
The layout supports both collaborative work and private meeting needs, with an emphasis on usable open office space complemented by dedicated meeting rooms.
Convenient access to public transit is available, along with street parking and multiple parking lots for visitors and staff.
The layout supports both collaborative work and private meeting needs, with an emphasis on usable open office space complemented by dedicated meeting rooms.
Key Highlights
- Recently renovated open‑plan office with meeting rooms, built for 20–40 people
- Open plan concept with a mix of large open work areas and meeting rooms
- All furniture included
Financial Insights For Office B
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 | $123.1k | $22.32 |
| − Vacancy | −$31.9k | −$5.78 |
| EGI | $91.2k | $16.54 |
| − OpEx | −$22.8k | −$4.13 |
| NOI | $68.4k | $12.40 |
5,516 SF · lease $22.32/SF/yr · vacancy 25.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$977.5K
$855.3K – $1.14M
NOI $68,422 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.36M
$1.19M – $1.58M
NOI $95,019 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,586
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Recently renovated open-plan office with meeting rooms and furniture included, built for 20–40 people.
Where is this office units located?
The property is located at 289 5th St E Saint Paul, MN.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Recently renovated open‑plan office with meeting rooms, built for 20–40 people; Open plan concept with a mix of large open work areas and meeting rooms; All furniture included
