Two-Story Retail Building For
For Sale
Contact for pricing
285 Snelling Ave N, Saint Paul, MN 55104
Two-story retail building and adjoining land are offered for sale with specified restricted uses.
Property Size14,950 SF
Lot Size0.58 Acres
Price / SF$200.67
Days on Market498
Property Features for 285 Snelling Ave N
General Information
Standard status
Active
Size
14,950 SF
Lot size
0.58 Acres
Property subtype
RETAIL
Building Details
Stories
2
Listing Agency:
Cushman & Wakefield
(952) 831-1000
Listed By:
Thomas Martin
(612) 730-7773
Source:
Moodyscre
Added: May 5, 2025
Changed: Sep 8
Last Checked: Sep 14 at 8:55AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
For sale: a two-story retail building plus adjoining land at 285 Snelling Ave N in St Paul, MN. The offering includes 14,950 SF of building space and 25,470 SF of land.
The property is subject to use restrictions, including prohibitions on a C-store, car wash, coffee uses, and dollar store concepts. The seller has identified the restrictions as part of the available-use conditions for the site.
The property is subject to use restrictions, including prohibitions on a C-store, car wash, coffee uses, and dollar store concepts. The seller has identified the restrictions as part of the available-use conditions for the site.
Key Highlights
- 14,950 SF, 2‑story retail building available
- 25,470 SF adjoining land included
- Restricted uses: no C‑store, car wash, coffee, or 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
$157,666
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
5.26%
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%
$3,153,320
$3.2M
Cap Rate 7%
$2,252,371
$2.3M
Cap Rate 9%
$1,751,844
$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
$269.1K $18.00/SF
− Vacancy
−$43.9K −$2.93/SF
EGI
$225.2K $15.07/SF
− OpEx
−$67.6K −$4.52/SF
NOI
$157.7K $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%
$3,153,320
Cap Rate 7%
$2,252,371
Cap Rate 9%
$1,751,844
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.63M
NOI $157,666 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.68M
$3.22M – $4.29M
NOI $257,529 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 and adjoining land are offered for sale with specified restricted uses.
Where is this retail space located?
The property is located at 285 Snelling Ave N Saint Paul, 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, 2‑story retail building available; 25,470 SF adjoining land included; Restricted uses: no C‑store, car wash, coffee, or dollar store
