Mixed-Use Building with Highway
New
For Sale
Contact for pricing
1885 & 1891 Suburban Avenue, Saint Paul, MN 55119
Commercial property offering retail-oriented space and flexibility for an owner-user or future lease-up strategy.
Property Size24,986 SF
Lot Size2.85 Acres
Price / SF$194.11
Days on Market5
Property Features for 1885 & 1891 Suburban Avenue
General Information
Standard status
Active
Size
24,986 SF
Lot size
2.85 Acres
Property subtype
Mixed Use, Retail, Industrial
Additional Details
Business Included
Yes
Listing Agency:
T Schwartz Group - eXp Realty
Listed By:
Tony Schwartz · License #MN20060914
Source:
Crexi
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 5:24AM
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 T Schwartz Group - eXp Realty
Investment Insights
Based on property information with market context.
The property comprises a 24,986-square-foot commercial building situated on 2.85 acres and identified by two Suburban Avenue addresses. Its mixed-use profile includes retail-oriented space, while the real estate and the operating flooring business may be acquired together or separately. A separate real estate purchase would result in vacant delivery, allowing the next owner to determine the occupancy plan.
The site has direct visibility from I-94 and sits between White Bear Avenue and Ruth Street in the Saint Paul–Maplewood trade area. The surrounding East Metro area includes retail, service, and healthcare employers and is described as densely populated with established daily traffic activity. The property has been under the same ownership group since 2018 and shows no stated signs of deferred-maintenance distress.
The site has direct visibility from I-94 and sits between White Bear Avenue and Ruth Street in the Saint Paul–Maplewood trade area. The surrounding East Metro area includes retail, service, and healthcare employers and is described as densely populated with established daily traffic activity. The property has been under the same ownership group since 2018 and shows no stated signs of deferred-maintenance distress.
Key Highlights
- 24,986 SF commercial building on 2.85 acres
- Direct I‑94 visibility in the Saint Paul–Maplewood trade area
- Real estate and operating flooring business available together or separately
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
$296,834
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
6.12%
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%
$5,936,680
$5.9M
Cap Rate 7%
$4,240,486
$4.2M
Cap Rate 9%
$3,298,156
$3.3M
Market Conditions
NOI Build-Up for 24,986 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
$539.7K $21.60/SF
− Vacancy
−$64.8K −$2.59/SF
EGI
$474.9K $19.01/SF
− OpEx
−$178.1K −$7.13/SF
NOI
$296.8K $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%
$5,936,680
Cap Rate 7%
$4,240,486
Cap Rate 9%
$3,298,156
Alternative Uses
Best Use
Mixed Use
$4.24M
$3.71M – $4.95M
NOI $296,834 @ 7.0% cap · market cap 6.12%
Second Best
Retail
$3.76M
$3.29M – $4.39M
NOI $263,507 @ 7.0% cap · market cap 5.43%
Theoretical Best
Healthcare Medical
$6.15M
$5.38M – $7.17M
NOI $430,409 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
306k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 27%
Superstores 25%
Groceries 8%
Target
Superstores
77,348 visits/mo
0.4 miles
McDonald's
Dining
34,533 visits/mo
0.1 miles
Aldi
Groceries
24,395 visits/mo
0.3 miles
Holiday Station Store
Shops & Services
23,701 visits/mo
0.3 miles
Speedway
Shops & Services
17,420 visits/mo
0.4 miles
Demographics for 55119, MN
43,010
Population
16,806
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
3,258
Density / Sq Mi
$77,870
Median Household Income
$42,860
Median Earnings
$1,351
Median Rent
$262,700
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 - Commercial property offering retail-oriented space and flexibility for an owner-user or future lease-up strategy.
Where is this mixed-use property located?
The property is located at 1885 & 1891 Suburban Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 24,986 SF commercial building on 2.85 acres; Direct I‑94 visibility in the Saint Paul–Maplewood trade area; Real estate and operating flooring business available together or separately
