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    St. Paul Office Space Available Title is generated by Realmo AI

    2356 University Ave W, St Paul, MN

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    Office suites for lease near Highway 280 and I-94.

    Type:OFFICE
    Property size:
    3,238 SF
    Lot size:
    0.85 Acres
    Added:
    Aug 16, 2025
    Days on Market:
    281
    Last Refresh:
    Apr 5 at 8:06 pm

    Property Features for 2356 University Ave W

    General Information

    Standard status
    Active
    Size
    3,238 SF
    Lot size
    0.85 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 2356 University Ave W Contact us

    We can help!

    Listing Contact
    Marilyn Fritze
    Marilyn Fritze

    Listing agent Marilyn Fritze License #20379862

    Listing office Colliers

    Listing date Aug 16, 2025

    Source Moodyscre

    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 Colliers

    HighLights

    • Ideal location just east of Highway 280 and I‑94 interchange, close to both Minneapolis and St. Paul.
    • Easy access to public transportation and 1 block from the Raymond Avenue light rail station.
    • High ceilings and exposed brick offer unique architectural features.
    • Ample parking available.
    • Convenient location near the University of Minnesota.
    • High traffic counts with 169,000 vehicles per day on I‑94.

    Overview

    This 115,200 square foot building offers multiple office suites for lease. Available spaces include Suite 200B with 3,238 square feet, Suite 260 with 1,878 square feet, Suite 400 with 2,727 square feet, and Suite 404 with 1,326 square feet. The lease rate ranges from $21.00 to $23.00 per square foot on a gross basis. The property features large windows, exposed brick, and high ceilings. Its location provides convenient access to public transportation, being one block from the Raymond Avenue light rail station, and is near the University of Minnesota. Ample parking is available. The building is ideally located just east of the Highway 280 and I-94 interchange, offering proximity to both Minneapolis and St. Paul. Co-tenants include Caffe Biaggio, Center for Victims of Torture, Isaiah, Scott Law Firm, Minnesota Land Trust, North Star Mini Storage, Transforming Generations, Butler Foundation, Carlin & Ulbee, Reflections, Inc., Family Circle Counseling, TakeAction Minnesota, Minerva Center For Psychology, and Sage Leaf Wellness. Traffic counts show 17,800 vehicles per day on University Avenue W, 35,000 vehicles per day on Hwy 280, 7,800 vehicles per day on Franklin Avenue, 7,500 vehicles per day on Raymond Avenue, and 169,000 vehicles per day on I-94.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    St Paul
    County
    State
    Minnesota

    FAQs

    What type of property is this?
    Office units - Office suites for lease near Highway 280 and I-94.
    Where is this office units located?
    The property is located at 2356 University Ave W St Paul, MN.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Ideal location just east of Highway 280 and I‑94 interchange, close to both Minneapolis and St. Paul.; Easy access to public transportation and **1 block from the Raymond Avenue light rail station.**; **High ceilings and exposed brick offer unique architectural features.**
    (612) 804-4364 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Marilyn Fritze
    Marilyn Fritze
    Real Estate License ID: 20379862
    Learn More
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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.

    More about this property
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