Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2231 Penn Pl, Unit 120 Saint Paul, MN 55109

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $215,000

    Two-bedroom condo in 55+ building with heated parking.

    Property size:
    1,038 SF
    Lot size:
    2.66 Acres

    Property Features for 2231 Penn Pl

    General Information

    Size
    1,038 SF
    Lot size
    2.66 Acres

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    Taylor Matzoll
    Taylor Matzoll
    Source: Kw

    Listing Agent: Taylor Matzoll

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    North Saint Paul Condo

    This 1,038 square foot condo features two bedrooms and two bathrooms, with in-unit laundry and heated underground parking. Designed for residents 55 and over, the building offers a community room, exercise room, elevators, and well-maintained grounds. The unit includes a screened-in porch, a primary bathroom, a walk-in closet, and an open kitchen overlooking the living room. The property is located off Highway 36, near the Gateway Trail, and within a 10-minute walk to restaurants and shops.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Breezy deals Toy Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Dakota
    State
    Minnesota
    Longitude
    -92.999045
    Latitude
    45.0089776

    Nearby Similar for Sale

    • $895,000
      0.14 Acres

      Grand Avenue Commercial Opportunity

      Well-maintained commercial property on historic Grand Avenue in Saint Paul.
      951 Grand Ave, Saint Paul, MN 55105
      View Details
    • $799,900
      0.18 Acres

      Saint Paul Multifamily Investment

      Updated multifamily property in Ramsey Hill, Saint Paul.
      609 Portland Ave, Saint Paul, MN 55102
      View Details
    • $775,000
      0.77 Acres

      Eagan Commercial Building with Exposure

      Well-maintained commercial building with high visibility and ample parking.
      3345 Lexington Ave S, Saint Paul, MN 55121
      View Details
    • $769,900
      0.14 Acres

      Remodeled Mid-Century Office Building

      Remodeled office building in the heart of the West Side.
      711 Smith Ave S, Saint Paul, MN 55107
      View Details
    • $750,000
      0.11 Acres

      Saint Paul Bar and Lounge

      Eastside bar and lounge with a two-bedroom apartment.
      1112 Arcade St, Saint Paul, MN 55106
      View Details
    • $625,000

      Remodeled Condo/Event Space in St. Paul

      Remodeled condo/event space in historic Rossmor building, downtown St. Paul.
      125 9Th St E, Saint Paul, MN 55101
      View Details
    • $525,000
      0.07 Acres

      Remodeled Mixed-Use Investment Property

      Four-unit mixed-use property in St. Paul, fully leased.
      609 Dale St N, Saint Paul, MN 55103
      View Details
    • $629,000
      0.10 Acres

      Saint Paul Brick Apartment Building

      Well-maintained 5-unit apartment building in prime St. Paul location.
      269 Oxford St N, Saint Paul, MN 55104
      View Details
    • Contact for pricing

      Remodeled Condo/Event Space in St. Paul

      Remodeled condo/event space in historic Rossmor building, downtown St. Paul.
      125 9Th St E, Saint Paul, MN 55101
      View Details
    • $55,000
      0.20 Acres

      Saint Paul Land Opportunity

      Residential land suitable for multi-family development in Saint Paul.
      212 Maple St, Saint Paul, MN 55106
      View Details
    • $600,000
      0.18 Acres

      Saint Paul Multifamily Investment

      Cash-flowing six-unit building with garage and potential income growth.
      929 Aurora Ave, Saint Paul, MN 55104
      View Details
    • New
      $1,900,000
      15,000 SF

      Roseville Office Building For Sale

      15,000 SF office building in a central Roseville location.
      2015 Rice St, Saint Paul, MN 55113
      View Details

    FAQs

    What type of property is this?
    Apartment building - Two-bedroom condo in 55+ building with heated parking.
    Where is this apartment building located?
    The property is located at 2231 Penn Pl, Unit 120 Saint Paul, MN.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: - 55+ Community: Enjoy a quiet and peaceful living environment designed for active adults.; - Heated Underground Parking: Benefit from protection from the elements and added convenience.; - In-Unit Laundry: Experience the convenience and time-saving of having laundry within your unit.
    (612) 242-0153
    Request Owner's contact information
    2231 Penn Pl, Unit 120 Saint Paul, MN 55109
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2231 Penn Pl, Unit 120
    Saint Paul, MN 55109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    2231 Penn Pl, Unit 120 Saint Paul, MN 55109
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Taylor Matzoll
    Taylor Matzoll
    (612) 242-0153
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.