Charming Converted Vintage Home
For Sale
Contact for pricing
595 Selby Ave, Saint Paul, MN 55102
Charming office space in Summit/University neighborhood with hardwood floors.
Property Size2,416 SF
Price / SF$269.04
Days on Market181
Property Features for 595 Selby Ave
General Information
Standard status
Active
Size
2,416 SF
Total Parking Spaces
7
Property subtype
Office
Zoning
B2 - Community Business District
Investment Type
Owner/User
Building Details
Year Built
1895
Year Renovated
2020
Buildings
1
Stories
3
Listing Agency:
Kenwood Commercial
(612) 240-7967
Listed By:
Nils Snyder · License #MN
Source:
Crexi
Added: Feb 20
Changed: Aug 15
Last Checked: Aug 19 at 2:20PM
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 Kenwood Commercial
Investment Insights
Based on property information with market context.
Located on Selby Avenue in the Summit/University neighborhood, this property features charming offices in a converted vintage home. The interior includes hardwood floors throughout and benefits from ample natural light. The layout comprises eight private offices, a kitchen area, and an ADA-compliant bathroom on the main floor. The property also includes an unfinished attic and basement. The location is surrounded by unique retail and restaurants and is near Cathedral Hill and its historic buildings. It offers convenient access to I-94 via Dale Street and to I-35E via Summit and University Avenues or Grand Avenue. The property is approximately 11 blocks from the Metro Green Line light rail at University Avenue & Dale Street, providing access to downtown Saint Paul or Minneapolis. The property size is 2416 square feet.
Key Highlights
- Prime location on Selby Avenue in the desirable Summit/University neighborhood, near retail, restaurants, and Cathedral Hill.
- Converted vintage home with charming office spaces and hardwood floors.
- Eight (8) private offices, kitchen area, and ADA bathroom on the main floor.
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
$29,969
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
4.61%
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%
$599,380
$599.4K
Cap Rate 7%
$428,129
$428.1K
Cap Rate 9%
$332,989
$333.0K
Market Conditions
NOI Build-Up for 2,416 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
$53.9K $22.32/SF
− Vacancy
−$14.0K −$5.78/SF
EGI
$40.0K $16.54/SF
− OpEx
−$10.0K −$4.13/SF
NOI
$30.0K $12.40/SF
Area
Dakota County, MN
Vacancy
25.90%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
25.00%
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%
$599,380
Cap Rate 7%
$428,129
Cap Rate 9%
$332,989
Alternative Uses
Best Use
Office B
$428.1K
$374.6K – $499.5K
NOI $29,969 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$594.5K
$520.2K – $693.6K
NOI $41,618 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,442
Businesses Nearby
Explore this area
Business Placement
Demographics for 55102, MN
20,355
Population
11,582
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
3.3 sq mi
ZIP Area
6,168
Density / Sq Mi
$74,143
Median Household Income
$54,042
Median Earnings
$1,295
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Charming office space in Summit/University neighborhood with hardwood floors.
Where is this office units located?
The property is located at 595 Selby Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location on Selby Avenue in the desirable Summit/University neighborhood, near retail, restaurants, and Cathedral Hill.; Converted vintage home with charming office spaces and hardwood floors.; Eight (8) private offices, kitchen area, and ADA bathroom on the main floor.
