Single-Tenant Medical
For Sale
Contact for pricing
280 SNELLING AVE N, Saint Paul, MN 55105
Single-tenant medical office investment leased to Dermatology Associates with 5 years remaining and option periods.
Property Size6,955 SF
Price / SF$322.86
Days on Market194
Property Features for 280 SNELLING AVE N
General Information
Standard status
Active
Size
6,955 SF
Property subtype
Retail, Office, Mixed Use
Lease Type
NN
Net Operating Income
$149,324
Site & Location
Traffic Count
43,000 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
6%
Building Details
Year Built
2008
Units
1
Tenancy
Single
Listing Agency:
Upland Real Estate Group Inc
Listed By:
Keith Sturm · License #MN 81883
(612) 332-6600
Source:
Crexi
Added: Apr 10
Changed: Oct 13
Last Checked: Oct 19 at 6:46AM
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 Upland Real Estate Group Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office investment is leased to Dermatology Associates, PA (doing business as Dermatology Consultants). The current lease includes 5 years remaining, with a rent increase in year 12 and two additional 5-year options. Dermatology Consultants operates four Minnesota Dermatology Consultant locations.
Located on Snelling Avenue North in Saint Paul’s Snelling-Hamline Union Park neighborhood, the property is cited as two blocks from Allianz Field, a soccer-specific stadium with 19,000+ capacity slated for completion in 2019. The surrounding area includes Midway Center shopping and nearby retailers such as Whole Foods Market, Starbucks, and Associated Bank.
Traffic counts are stated as averaging 43,000 vehicles daily in front of the property, with 150,000+ vehicles daily on nearby Interstate 94.
Located on Snelling Avenue North in Saint Paul’s Snelling-Hamline Union Park neighborhood, the property is cited as two blocks from Allianz Field, a soccer-specific stadium with 19,000+ capacity slated for completion in 2019. The surrounding area includes Midway Center shopping and nearby retailers such as Whole Foods Market, Starbucks, and Associated Bank.
Traffic counts are stated as averaging 43,000 vehicles daily in front of the property, with 150,000+ vehicles daily on nearby Interstate 94.
Key Highlights
- Single‑tenant medical office investment leased to Dermatology Associates, PA
- Lease has 5 years remaining and includes a rent increase in year 12
- Lease includes two 5‑year option periods
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,223
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,460
$1.8M
Cap Rate 7%
$1,274,614
$1.3M
Cap Rate 9%
$991,367
$991.4K
Market Conditions
NOI Build-Up for 6,955 SF
Gross rent
$193.6K $27.84/SF
− Vacancy
−$44.9K −$6.46/SF
EGI
$148.7K $21.38/SF
− OpEx
−$59.5K −$8.55/SF
NOI
$89.2K $12.83/SF
Area
Ramsey County, MN
Vacancy
23.20%
Lease Rate
$27.84 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,460
Cap Rate 7%
$1,274,614
Cap Rate 9%
$991,367
Alternative Uses
Best Use
Healthcare Medical
$1.27M
$1.12M – $1.49M
NOI $89,223 @ 7.0% cap · market cap 3.97%
Second Best
Office B
$1.18M
$1.03M – $1.38M
NOI $82,590 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,152 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
43,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55105, MN
28,812
Population
12,045
Households
2.4
Avg Household Size
33
Median Age
78%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
8,232
Density / Sq Mi
$108,200
Median Household Income
$51,131
Median Earnings
$1,240
Median Rent
$453,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Peggy Hayden — 1430 Marshall Ave, St Paul, MN 55104
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant medical office investment leased to Dermatology Associates with 5 years remaining and option periods.
Where is this medical office space located?
The property is located at 280 SNELLING AVE N Saint Paul, MN.
What is the asking price?
The asking price for this property is $2,245,470.
What are key features of this property?
This property features: Single‑tenant medical office investment leased to Dermatology Associates, PA; Lease has 5 years remaining and includes a rent increase in year 12; Lease includes two 5‑year option periods
