Mixed-Use Building with Commercial
For Sale
Contact for pricing
839 Century Ave N, Saint Paul, MN 55119
Ten apartment units with a 3,275 SF commercial space.
Property Size3,275 SF
Price / SF$351.15
Days on Market169
Property Features for 839 Century Ave N
General Information
Standard status
Active
Size
3,275 SF
Property subtype
Multifamily
Zoning
BCD
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$61,881
Building Details
Year Built
1934
Units
11
Listing Agency:
Wakota Commercial Advisors
(612) 490-5551
Listed By:
Jeff Houge · License #MN 40196314
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 10 at 3:34PM
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 Wakota Commercial Advisors
Investment Insights
Based on property information with market context.
This property features a ten-unit apartment building along with a 3,275 square foot commercial space located at street level. The commercial space is currently leased on a month-to-month basis and presents significant potential for increased value. It has been occupied by a veterinary clinic for several decades. The property is located in Saint Paul, MN.
Key Highlights
- 10‑unit apartment building with additional commercial space.
- 3,275 sf commercial space at street level.**
- Commercial space has major upside potential.
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
$43,950
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
3.82%
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%
$879,000
$879.0K
Cap Rate 7%
$627,857
$627.9K
Cap Rate 9%
$488,333
$488.3K
Market Conditions
NOI Build-Up for 3,275 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
$85.3K $26.04/SF
− Vacancy
−$5.4K −$1.64/SF
EGI
$79.9K $24.40/SF
− OpEx
−$36.0K −$10.98/SF
NOI
$43.9K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$879,000
Cap Rate 7%
$627,857
Cap Rate 9%
$488,333
Alternative Uses
Best Use
Apartment 5plus
$627.9K
$549.4K – $732.5K
NOI $43,950 @ 7.0% cap · market cap 3.82%
Second Best
Retail
$493.4K
$431.7K – $575.7K
NOI $34,539 @ 7.0% cap · market cap 3.00%
Theoretical Best
Healthcare Medical
$805.9K
$705.2K – $940.3K
NOI $56,415 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 55119, MN
43,010
Population
16,806
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
3,258
Density / Sq Mi
$77,870
Median Household Income
$42,860
Median Earnings
$1,351
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten apartment units with a 3,275 SF commercial space.
Where is this apartment building located?
The property is located at 839 Century Ave N Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 10‑unit apartment building with additional commercial space.; 3,275 sf commercial space at street level.**; Commercial space has major upside potential.
