Multitenant Office Building With
For Sale
$2,250,000
2375 University Ave W, Saint Paul, MN 55114
Well-kept multitenant office building offers newly renovated suite space and 21 off-street parking spaces.
Property Size15,120 SF
Price / SF$148.81
Days on Market79
Property Features for 2375 University Ave W
General Information
Standard status
Active
Size
15,120 SF
Total Parking Spaces
21
Zoning
T3
Site & Location
Traffic Count
14,249 vehicles/day
Highway Access
Yes
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
RE/MAX Results
Listed By:
Mark K Hulsey · License #40169559
(651) 256-7404
Source:
Putyourrootsdown
Added: Jul 24
Changed: Oct 7
Last Checked: Oct 7 at 5:12PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
2375 University Ave W is a well-kept multitenant office building totaling 15,120 SF. The property includes a newly renovated Suite 200 with 3,203 SF available immediately, and an additional 5,115 SF is scheduled to become available in July 2026.
The building is located on St. Paul’s University Avenue with visibility and access to Highway 94 and the Twin Cities metro. Parking is provided via a private, secure parking lot in the rear on Charles Ave with 21 spaces, along with additional surrounding street parking. Transit service is available along the University Avenue corridor, which includes bus lines and light rail.
Zoned T3 – Traditional Neighborhood, the property allows a range of permitted uses including commercial, residential, office, retail, and mixed-use options. Current tenants include ThinkSelf Inc., Home Group Inc., New Light Center LLC, Rise Inc., Keystone Interpreting Solutions Inc., Landmark Piano LLC, and Pete’s Mobile of MN LLC.
The building is located on St. Paul’s University Avenue with visibility and access to Highway 94 and the Twin Cities metro. Parking is provided via a private, secure parking lot in the rear on Charles Ave with 21 spaces, along with additional surrounding street parking. Transit service is available along the University Avenue corridor, which includes bus lines and light rail.
Zoned T3 – Traditional Neighborhood, the property allows a range of permitted uses including commercial, residential, office, retail, and mixed-use options. Current tenants include ThinkSelf Inc., Home Group Inc., New Light Center LLC, Rise Inc., Keystone Interpreting Solutions Inc., Landmark Piano LLC, and Pete’s Mobile of MN LLC.
Key Highlights
- 15,120 SF multitenant building on University Ave W in St. Paul
- Zoned T3 – Traditional Neighborhood with many permitted uses including commercial, residential, office, retail, and mixed‑use
- Suite 200: 3,203 SF available immediately after renovation; additional 5,115 SF becoming available July 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,548
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,590,960
$3.6M
Cap Rate 7%
$2,564,971
$2.6M
Cap Rate 9%
$1,994,978
$2.0M
Market Conditions
NOI Build-Up for 15,120 SF
Gross rent
$332.0K $21.96/SF
− Vacancy
−$92.6K −$6.13/SF
EGI
$239.4K $15.83/SF
− OpEx
−$59.8K −$3.96/SF
NOI
$179.5K $11.87/SF
Area
Ramsey County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,590,960
Cap Rate 7%
$2,564,971
Cap Rate 9%
$1,994,978
Alternative Uses
Best Use
Office B
$2.56M
$2.24M – $2.99M
NOI $179,548 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,512 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14,249 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,186
Businesses Nearby
Explore this area
Business Placement
Demographics for 55114, MN
5,012
Population
2,806
Households
1.8
Avg Household Size
29
Median Age
67%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
3,855
Density / Sq Mi
$65,236
Median Household Income
$52,738
Median Earnings
$1,588
Median Rent
$296,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Well-kept multitenant office building offers newly renovated suite space and 21 off-street parking spaces.
Where is this office building located?
The property is located at 2375 University Ave W Saint Paul, MN.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 15,120 SF multitenant building on University Ave W in St. Paul; Zoned T3 – Traditional Neighborhood with many permitted uses including commercial, residential, office, retail, and mixed‑use; Suite 200: 3,203 SF available immediately after renovation; additional 5,115 SF becoming available July 2026
