Standalone Warehouse/Shop Building For
For Sale
Contact for pricing
2603 7th Ave E, Saint Paul, MN 55109
Standalone building suitable for plumbing, HVAC, welding shop, small manufacturer.
Property Size2,000 SF
Lot Size0.28 Acres
Price / SF$249.50
Days on Market318
Property Features for 2603 7th Ave E
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.28 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Commercial Equities Group, Inc
(612) 428-3333
Listed By:
Jeff Salzbrun · License #40699119
(612) 428-3333
Source:
Moodyscre
Added: Oct 6, 2025
Changed: Aug 8
Last Checked: Aug 19 at 10:22AM
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 Commercial Equities Group, Inc
Investment Insights
Based on property information with market context.
This standalone building is suitable for plumbing, HVAC, welding shops, small manufacturers, and other similar businesses. The warehouse space is approximately 1,850 square feet. A drive-in door measures 7 feet by 8 feet with an 8-foot clearance at the entry. The warehouse has a 9-foot clearance, with 11-foot clearance in the shop area. The office space is 150 square feet with 8-foot high ceilings. The property includes a private restroom and a security system. It also features an air compressor and 3-phase power. The building is constructed with insulated concrete block on a cement slab, with 4-foot footings on the corners that allow for a 2nd-floor option. Street and off-street parking is available, with 4 stalls. The property has easy access to MN Highways 36 and 120, US Highway 61, and I-694.
Key Highlights
- Standalone building suitable for various businesses
- Easy access to major highways
- Features approximately 1,850 SF of warehouse space with drive‑in door
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
$26,383
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
5.29%
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%
$527,660
$527.7K
Cap Rate 7%
$376,900
$376.9K
Cap Rate 9%
$293,144
$293.1K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$31.0K $15.52/SF
− OpEx
−$4.7K −$2.33/SF
NOI
$26.4K $13.19/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
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%
$527,660
Cap Rate 7%
$376,900
Cap Rate 9%
$293,144
Alternative Uses
Best Use
Warehouse
$376.9K
$329.8K – $439.7K
NOI $26,383 @ 7.0% cap · market cap 5.29%
Second Best
Industrial
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 4.35%
Theoretical Best
Healthcare Medical
$492.2K
$430.7K – $574.2K
NOI $34,452 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55109, MN
35,381
Population
13,376
Households
2.6
Avg Household Size
38
Median Age
31%
College-Educated
91%
High-School Grad
11.7 sq mi
ZIP Area
3,024
Density / Sq Mi
$81,759
Median Household Income
$44,609
Median Earnings
$1,316
Median Rent
$291,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Pro Move Storage — 2272 3rd St N, North St Paul, MN 55109
- StorageMart — 2315 Anchor Dr, North St Paul, MN 55109
Frequently Asked Questions
What type of property is this?
Warehouse - Standalone building suitable for plumbing, HVAC, welding shop, small manufacturer.
Where is this warehouse located?
The property is located at 2603 7th Ave E Saint Paul, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Standalone building suitable for various businesses; Easy access to major highways; Features approximately 1,850 SF of warehouse space with drive‑in door
