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    Functional Warehouse Space in Saint Paul Title is generated by Realmo AI

    292 Walnut Street, Saint Paul, MN 55102

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    Well-situated warehouse space in Saint Paul's vibrant downtown entertainment district.

    Type:Industrial
    Added:
    Mar 6, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 6 at 12:31 am

    Property Features for 292 Walnut Street

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Properties For Sale

    at 292 Walnut Street Contact us

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    Listing Contact
    Edward Rupp
    Edward Rupp

    Listing agent Edward Rupp

    Listing office SVN | Northco Real Estate Services LLC

    Listing date Mar 6, 2026

    Source Svn

    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 SVN | Northco Real Estate Services LLC

    HighLights

    • Unprecedented warehouse space in Saint Paul's West 7th entertainment district.
    • 35 off‑street parking spaces (30 lined stalls) with readily available additional off‑street parking.
    • Flexible commercial/light industrial space suitable for a variety of uses, including indoor recreation, brewery, or distillery.
    • Located in the heart of Saint Paul's entertainment district, one block from Grand Casino Arena (Home of the Minnesota Wild).
    • Convenient access to West 7th Street, I‑94, and I‑35E, providing excellent regional connectivity.
    • Competitive lease rates relative to core downtown submarkets, offering affordability without sacrificing accessibility.

    Overview

    Located at 292 Walnut Street in Saint Paul, Minnesota, this property presents a functional leasing opportunity in Saint Paul’s West 7th neighborhood. The property is suitable for a range of commercial uses, featuring a practical layout designed to support efficient operations, with flexible interior space that can be configured for a wide variety of uses. Finished office spaces on the main and second level complement the large usable warehouse space. The location provides convenient access to West 7th Street and Interstate 94. On-site and nearby street parking support daily operations. The surrounding area features a mix of residential, light industrial, and neighborhood-serving commercial uses. The property is strategically located in an area experiencing steady reinvestment and long-term growth driven by its proximity to downtown Saint Paul, Grand Casino Arena, the State Capitol, and major transportation corridors. It sits just minutes from Marion Street and Interstate 94, providing efficient east-west access across the Twin Cities metro and convenient connectivity to Minneapolis, downtown Saint Paul, and key employment centers. Nearby amenities include local restaurants, retail services, schools, and public transit options. The property has 35 off-street parking spaces (30 lined stalls) and off-street parking is readily available. The owner of the building currently has a legally non-conforming use for light industrial, and is open to applying to change the non-conforming use. The Property is located in an RM-2 zoning district. It is one block from Grand Casino Arena.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Breweries

    Suggested Use

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

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

    Similar Places Nearby

    • Secure Car Storage — 75 Plato Blvd W, St Paul, MN 55107
    • Insight Storage Solutions — 115 Plato Blvd W, St Paul, MN 55107
    • Self Storage — 19 Thompson St, St Paul, MN 55102, United States
    • Extra Space Storage — 102 W Water St Ste 100, St Paul, MN 55107
    • Hirte Transfer & Storage Inc — St Paul, MN 55102

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.1037
    Latitude
    44.942

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    FAQs

    What type of property is this?
    Warehouse - Well-situated warehouse space in Saint Paul's vibrant downtown entertainment district.
    Where is this warehouse located?
    The property is located at 292 Walnut Street Saint Paul, MN.
    What are key features of this property?
    This property features: Unprecedented warehouse space in Saint Paul's West 7th entertainment district.; **35 off‑street parking spaces (30 lined stalls)** with readily available additional off‑street parking.; Flexible commercial/light industrial space suitable for a variety of uses, including indoor recreation, brewery, or distillery.
    (952) 820-1634
    We can help!
    Listing Contact
    Edward Rupp
    Edward Rupp
    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.

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