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Mixed-Use Redevelopment Opportunity

398 Wabasha St N, Saint Paul, MN 55101

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For Sale

Contact for pricing

Located in a vibrant mixed-use redevelopment in downtown St. Paul.

Type:Retail

Property size:

17,101 SF

Price / SF:

$260/SF

HighLights

Located in the heart of downtown St. Paul, Minnesota.
Part of the Treasure Island Center, a vibrant mixed‑use redevelopment.
Modern destination combining retail, office, medical, and recreational space.
Features the TRIA Rink, an NHL‑regulation ice rink.
TRIA Rink serves as the official practice facility for the Minnesota Wild.
Building was redeveloped in 2017.

We can help!

Contact an agent

Keith Sturm

For Sale

Contact for pricing

Located in a vibrant mixed-use redevelopment in downtown St. Paul.

Type:Retail

Property size:

17,101 SF

Price / SF:

$260/SF

Added:: Feb 25, 2026
Days on Market:: 122
Last Refresh:: Mar 17 at 1:16 pm

Property Features for 398 Wabasha St N

General Information

Standard status: Active
Size: 17,101 SF
Property subtype: Retail

Building Details

Year Built: 2017

We can help!

Contact an agent

Keith Sturm

Listing office Upland Real Estate Group Inc

Listing date Feb 25, 2026

Source Crexi

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

HighLights

Located in the heart of downtown St. Paul, Minnesota.
Part of the Treasure Island Center, a vibrant mixed‑use redevelopment.
Modern destination combining retail, office, medical, and recreational space.
Features the TRIA Rink, an NHL‑regulation ice rink.
TRIA Rink serves as the official practice facility for the Minnesota Wild.
Building was redeveloped in 2017.

Overview

The property is part of the Treasure Island Center, a mixed-use redevelopment located in downtown St. Paul, Minnesota. Originally built in 1962 as a department store, the building was vacant for several years before being redeveloped into a modern destination. The property now combines retail, office, medical, and recreational spaces. The TRIA Rink, an NHL-regulation ice rink on the rooftop, serves as the official practice facility for the Minnesota Wild and hosts community events, college hockey games, and figure skating.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$513.0k	$30.00
− Vacancy	−$22.1k	−$1.29
EGI	$491.0k	$28.71
− OpEx	−$196.4k	−$11.48
NOI	$294.6k	$17.23

17,101 SF · lease $30.00/SF/yr · vacancy 4.30% · expense 40.00%

Alternative Uses

Best Use

Healthcare Medical

$4.21M

$3.68M – $4.91M (±1% cap)

NOI $294,582 @ 7.0% cap · market cap 6.62%

Second Best

Specialty Retail

$3.17M

$2.77M – $3.70M (±1% cap)

NOI $221,860 @ 7.0% cap · market cap 4.98%

Theoretical Best

—

same as Best Use

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

Property Profile Location Intelligence

Current Use by Public Records

Drug stores

Suggested Use

Similar Places Nearby

Michele M. Marshall, Pharm — 345 Smith Ave N, St Paul, MN 55102
Jon Swanson, PharmD — 345 Smith Ave N, St Paul, MN 55102
Radius Living rx — 124 Wabasha St S, St Paul, MN 55107
Genoa Healthcare — 122 Wabasha St S Suite 110, St Paul, MN 55107
The Naked Boar — Douglas St, St Paul, MN 55102

Location Insight

Map
Local Demand

City: Saint Paul
County: Dakota
State: Minnesota
Longitude: -93.0953426
Latitude: 44.9467671

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For sale
Drug stores
MN
Saint Paul
55101
398 Wabasha St N

What type of property is this?

Drug store - Located in a vibrant mixed-use redevelopment in downtown St. Paul.

Where is this drug store located?

The property is located at 398 Wabasha St N Saint Paul, MN.

What is the asking price?

The asking price for this property is $4,451,000.

What are key features of this property?

This property features: Located in the heart of downtown St. Paul, Minnesota.; Part of the Treasure Island Center, a vibrant mixed‑use redevelopment.; Modern destination combining retail, office, medical, and recreational space.

398 Wabasha St N, Saint Paul, MN 55101

Located in a vibrant mixed-use redevelopment in downtown St. Paul.

Property Features for 398 Wabasha St N

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Mixed-Use Building in Saint Paul

Two-Story Office Building with Parking

Corner Office Building with Two Suites

Turn-Key Restaurant Opportunity in Saint Paul

Three-Unit Mixed-Use Building

Remodeled Mid-Century Office Building

Versatile Commercial Building on Corner Lot

11-Unit Multifamily Apartment Building

Eleven-Unit Multifamily Building

Mixed-Use Building with Street-Level Retail

Turn-Key Office Suite with Parking

Mixed-Use Property with Street-Level Dining

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