Medical Clinic with Long-Term
For Sale
Contact for pricing
280 Snelling Ave, Saint Paul, MN 55104
Well-located medical clinic property with Entira Family Clinic on a long-term lease featuring 2% annual increases.
Property Size6,955 SF
Price / SF$343.52
Days on Market68
Property Features for 280 Snelling Ave
General Information
Standard status
Active
Size
6,955 SF
Property subtype
OFFICE
Listing Agency:
Upland Real Estate Group, Inc
(612) 376-4488
Listed By:
Keith A Sturm · License #20103724
(612) 376-4488
Source:
Moodyscre
Added: Jun 16
Changed: Aug 13
Last Checked: Aug 22 at 5:42AM
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
Investment Insights
Based on property information with market context.
This medical clinic property is occupied by Entira Family Clinic on a long-term lease with more than 9 years remaining and 2% annual increases. The established primary care tenant is described as a physician-owned medical group providing family medicine services throughout the Twin Cities East Metro for more than 50 years.
The asset is situated on Snelling Avenue in central St. Paul, a major north-south corridor connecting local neighborhoods and providing daily traffic access. The location also includes generous on-site parking. It is within 2 miles of four major universities: University of St. Thomas, St. Catherine University, Macalester College, and Concordia University.
For broader connectivity, the property offers easy access to I-94 and I-35E, supporting a wide patient catchment area. The surrounding area is described as a vibrant retail corridor near several established retailers.
The asset is situated on Snelling Avenue in central St. Paul, a major north-south corridor connecting local neighborhoods and providing daily traffic access. The location also includes generous on-site parking. It is within 2 miles of four major universities: University of St. Thomas, St. Catherine University, Macalester College, and Concordia University.
For broader connectivity, the property offers easy access to I-94 and I-35E, supporting a wide patient catchment area. The surrounding area is described as a vibrant retail corridor near several established retailers.
Key Highlights
- Entira Family Clinic on a NN long‑term lease with more than 9 years remaining and 2% annual increases
- Central St. Paul location on Snelling Avenue, a major north‑south corridor with strong daily traffic and accessibility
- Generous on‑site parking
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
$119,807
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
5.01%
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%
$2,396,140
$2.4M
Cap Rate 7%
$1,711,529
$1.7M
Cap Rate 9%
$1,331,189
$1.3M
Market Conditions
NOI Build-Up for 6,955 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
$208.7K $30.00/SF
− Vacancy
−$9.0K −$1.29/SF
EGI
$199.7K $28.71/SF
− OpEx
−$79.9K −$11.48/SF
NOI
$119.8K $17.23/SF
Area
Dakota County, MN
Vacancy
4.30%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,396,140
Cap Rate 7%
$1,711,529
Cap Rate 9%
$1,331,189
Alternative Uses
Best Use
Healthcare Medical
$1.71M
$1.50M – $2.00M
NOI $119,807 @ 7.0% cap · market cap 5.01%
Second Best
Office B
$1.23M
$1.08M – $1.44M
NOI $86,272 @ 7.0% cap · market cap 3.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - Well-located medical clinic property with Entira Family Clinic on a long-term lease featuring 2% annual increases.
Where is this medical center located?
The property is located at 280 Snelling Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $2,389,200.
What are key features of this property?
This property features: Entira Family Clinic on a NN long‑term lease with more than 9 years remaining and 2% annual increases; Central St. Paul location on Snelling Avenue, a major north‑south corridor with strong daily traffic and accessibility; Generous on‑site parking
