Freestanding Restaurant
For Sale
Contact for pricing
616 Como Ave, Saint Paul, MN 55103
Renovated commercial building with restaurant infrastructure, outdoor patio, full basement, and commercial zoning.
Property Size6,142 SF
Lot Size0.20 Acres
Price / SF$179.09
Days on Market9
Property Features for 616 Como Ave
General Information
Standard status
Active
Size
6,142 SF
Lot size
0.20 Acres
Property subtype
HOSPITALITY
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Utilities to Site
Yes
Amenities
Rooftop Billboard
Digital Sign
Building Details
Year Built
1940
Year Renovated
2010
Buildings
1
Listing Agency:
J H Callahan & Associates
(651) 455-8858
Listed By:
George Novak · License #40936165
(612) 723-5450
Source:
Moodyscre
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 10 at 9:50AM
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 J H Callahan & Associates
Investment Insights
Based on property information with market context.
The offering comprises a freestanding 6,142-square-foot commercial building on a 0.2009-acre lot at 616 Como Ave in St. Paul. Built in 1940 and renovated in 2010, the property includes a full basement with a 7.5-foot ceiling, private office, laundry area, large walk-in cooler, and storage. Restaurant infrastructure includes multiple exhaust systems, preparation and service equipment, a walk-in cooler, central air conditioning, and two restrooms.
Building improvements include a Firestone rubber roof installed in 2017, central air conditioning added in 2011, and 400-amp, three-phase electrical service. The site includes an illuminated outdoor patio with furnishings, a 6-foot by 9-foot digital sign, and an income-generating rooftop billboard. County land use is identified for restaurant, cafeteria, and/or bar use, with commercial zoning. The sale includes the real estate only; the operating business is excluded.
Building improvements include a Firestone rubber roof installed in 2017, central air conditioning added in 2011, and 400-amp, three-phase electrical service. The site includes an illuminated outdoor patio with furnishings, a 6-foot by 9-foot digital sign, and an income-generating rooftop billboard. County land use is identified for restaurant, cafeteria, and/or bar use, with commercial zoning. The sale includes the real estate only; the operating business is excluded.
Key Highlights
- 6,142‑square‑foot freestanding building on a 0.2009‑acre lot
- Built in 1940 and totally renovated in 2010
- Full basement with 7.5' ceiling, walk‑in cooler, office, laundry, and storage
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
$79,683
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
7.24%
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%
$1,593,660
$1.6M
Cap Rate 7%
$1,138,329
$1.1M
Cap Rate 9%
$885,367
$885.4K
Market Conditions
NOI Build-Up for 6,142 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
$110.6K $18.00/SF
− Vacancy
−$4.3K −$0.70/SF
EGI
$106.2K $17.30/SF
− OpEx
−$26.6K −$4.32/SF
NOI
$79.7K $12.97/SF
Area
Dakota County, MN
Vacancy
3.90%
Lease Rate
$18.00 /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%
$1,593,660
Cap Rate 7%
$1,138,329
Cap Rate 9%
$885,367
Alternative Uses
Best Use
Specialty Retail
$1.14M
$996.0K – $1.33M
NOI $79,683 @ 7.0% cap · market cap 7.24%
Second Best
Industrial
$953.2K
$834.1K – $1.11M
NOI $66,725 @ 7.0% cap · market cap 6.07%
Theoretical Best
Healthcare Medical
$1.51M
$1.32M – $1.76M
NOI $105,802 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 68%
Shops & Services 32%
Kendall's Ace Hardware & Paint
Home Improvements & Furnishings
5,861 visits/mo
0.0 miles
BP
Shops & Services
2,718 visits/mo
0.1 miles
Demographics for 55103, MN
13,874
Population
5,652
Households
2.5
Avg Household Size
32
Median Age
27%
College-Educated
79%
High-School Grad
2.0 sq mi
ZIP Area
6,937
Density / Sq Mi
$47,872
Median Household Income
$35,625
Median Earnings
$1,040
Median Rent
$240,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated commercial building with restaurant infrastructure, outdoor patio, full basement, and commercial zoning.
Where is this conventional restaurant located?
The property is located at 616 Como Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,142‑square‑foot freestanding building on a 0.2009‑acre lot; Built in 1940 and totally renovated in 2010; Full basement with 7.5' ceiling, walk‑in cooler, office, laundry, and storage
