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    Downtown St. Paul Medical Office Title is generated by Realmo AI

    17 Exchange St W, Saint Paul, MN 55102

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    Pending
    $945,500

    Commercial - Saint Paul, MN

    Lot size:
    0.50 Acres
    Added:
    Oct 8, 2025
    Days on Market:
    232
    Last Refresh:
    May 27 at 1:06 pm

    Property Features for 17 Exchange St W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Garage, Underground/Basement
    Exterior features
    Brick/Stone
    Standard status
    Pending
    APN
    312922340280
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    84204

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1978
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark K Hulsey
    Mark K Hulsey

    Listing agent Mark K Hulsey

    Listing office RE/MAX Results 11200 W 78th Street, Eden Prairie, MN

    Listing date Oct 8, 2025

    MLS# 6805574 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Downtown St. Paul location directly across from St. Joseph’s Hospital.
    • Large, fully vacant 122,084 SF medical office building with redevelopment potential.
    • Skyway connection to St. Joseph’s Hospital and attached underground parking.
    • On‑site management and maintenance team.
    • Connected to St. Paul’s chilled‑water Loop (district cooling).
    • Two emergency generators on site.

    Overview

    This fully vacant 122,084 square foot medical office building is located in Downtown St. Paul at 17 Exchange Street West, across from St. Joseph’s Hospital. The property includes a connected atrium and features 8 stories plus a 2-story annex. On-site management and maintenance are available. A skyway provides a connection to St. Joseph’s Hospital, and attached underground parking is city-owned. The building has 8 parking spaces and is located in the Capitol Area Jurisdiction Zoning area. The roof is constructed with a flat rubber membrane and a built-up roofing system. Acoustical tile ceilings are installed throughout the building. Three elevators are available, including one larger-capacity car. The HVAC system consists of six rooftop units, including four 10-ton units and two 100-ton units. The building is connected to St. Paul’s chilled-water Loop for district cooling. Common and in-suite restrooms are located throughout the building. Fire-suppression sprinklers are installed for fire and life safety. Two emergency generators are on site for electrical backup. Flooring consists of carpet and LVT, with tile in the restrooms. The property is part of the Gallery Professional Building Association condo association.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Swenson Donald B MD — 17 W Exchange St # 835, St Paul, MN 55102, United States
    • Pomeroy's Small Animal Hospital — 185 7th st e, st paul, mn 55101
    • Pomeroy's Animal Hospital — 185 E 7th St, St Paul, MN 55101
    • Fred Pomeroy — 185 E 7th St, St Paul, MN 551012302
    • St Paul Area Veterinary Group — 6 W 5th St, St Paul, MN 55102

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.098693
    Latitude
    44.948849

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    FAQs

    What type of property is this?
    Medical Office Space - Vacant medical office building with skyway and parking access.
    Where is this medical office space located?
    The property is located at 17 Exchange St W Saint Paul, MN.
    What is the asking price?
    The asking price for this property is $945,500.
    What are key features of this property?
    This property features: Prime Downtown St. Paul location directly across from St. Joseph’s Hospital.; Large, fully vacant 122,084 SF medical office building with redevelopment potential.; Skyway connection to St. Joseph’s Hospital and attached underground parking.
    (651) 755-2068
    We can help!
    Listing Contact
    Mark K Hulsey
    Mark K Hulsey
    Real Estate License ID: 40169559
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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