Remodeled Mixed-Use
For Sale
$550,000
1363 Grand Avenue, Saint Paul, MN 55105
Two-level property combines a salon-ready commercial space with an upstairs apartment and additional unfinished areas.
Property Size2,120 SF
Price / SF$259.43
Days on Market166
Property Features for 1363 Grand Avenue
General Information
Standard status
Active
Size
2,120 SF
Property subtype
General Commercial
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,073
Amenities
unfinished basement
attic
garage
oversized balconies
Central Air
3
Building Details
Year Built
1912
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(651) 361-0342
Listed By:
Timothy Devane
(651) 361-0342
Source:
Xome
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 31 at 2:07PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,120-square-foot mixed-use duplex, built in 1912, combines a remodeled commercial level with a separate residential unit. The main floor is configured for salon use, with three chairs, lounge space, two private offices, and a bathroom. Central air is included.
The second floor contains a two-bedroom, one-bath apartment. An unfinished basement and attic add storage or future improvement space, while the property also includes a two-car garage, rear parking, and oversized balconies facing Grand Avenue. The configuration supports an owner-occupant business, commercial tenancy, or residential occupancy within the same building.
The second floor contains a two-bedroom, one-bath apartment. An unfinished basement and attic add storage or future improvement space, while the property also includes a two-car garage, rear parking, and oversized balconies facing Grand Avenue. The configuration supports an owner-occupant business, commercial tenancy, or residential occupancy within the same building.
Key Highlights
- 2,120‑square‑foot mixed‑use duplex built in 1912
- Remodeled main level configured as a hair salon with three chairs
- Main floor includes lounge area, two private offices, and a bathroom
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
$25,186
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
4.58%
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%
$503,720
$503.7K
Cap Rate 7%
$359,800
$359.8K
Cap Rate 9%
$279,844
$279.8K
Market Conditions
NOI Build-Up for 2,120 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
$45.8K $21.60/SF
− Vacancy
−$5.5K −$2.59/SF
EGI
$40.3K $19.01/SF
− OpEx
−$15.1K −$7.13/SF
NOI
$25.2K $11.88/SF
Area
Dakota County, MN
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$503,720
Cap Rate 7%
$359,800
Cap Rate 9%
$279,844
Alternative Uses
Best Use
Mixed Use
$359.8K
$314.8K – $419.8K
NOI $25,186 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$319.4K
$279.5K – $372.6K
NOI $22,358 @ 7.0% cap · market cap 4.07%
Theoretical Best
Healthcare Medical
$521.7K
$456.5K – $608.7K
NOI $36,519 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 30%
Home Improvements & Furnishings 5%
Beauty & Spa 3%
Dunn Bros Coffee
Dining
11,571 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
6,287 visits/mo
0.4 miles
Breadsmith
Dining
4,736 visits/mo
0.4 miles
Sinclair
Shops & Services
4,299 visits/mo
0.1 miles
Nothing Bundt Cakes
Dining
4,162 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines a salon-ready commercial space with an upstairs apartment and additional unfinished areas.
Where is this mixed-use property located?
The property is located at 1363 Grand Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,120‑square‑foot mixed‑use duplex built in 1912; Remodeled main level configured as a hair salon with three chairs; Main floor includes lounge area, two private offices, and a bathroom
