Three-Level Professional Office
New
For Sale
$775,000
951 Grand Ave, Saint Paul, MN 55105
BC-zoned office property with private workspaces, meeting rooms, a kitchenette, and rear parking.
Property Size4,107 SF
Price / SF$188.70
Days on Market1
Property Features for 951 Grand Ave
General Information
Standard status
Active
Size
4,107 SF
Zoning
BC
Amenities
upgraded landscaping/patio
enormous balcony
private offices
conference rooms
kitchenette
unfinished basement
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Chad E Heer · License #40427410
(612) 963-5147
Source:
Searchhousesnow
Added: Sep 4
Last Checked: Sep 4 at 2:17PM
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 Keller Williams Realty Integrity Lakes
Investment Insights
Based on property information with market context.
This 4,107-square-foot office property was built in 1912 and spans three levels. The building includes private offices, conference rooms, a kitchenette, dual entrances, and an unfinished basement and third level that provide additional interior area. A substantial balcony, front patio, and upgraded landscaping add usable exterior features.
The property is located at 951 Grand Ave in Saint Paul, along Grand Avenue. A large parking lot at the rear serves guests and staff. City of St. Paul Community Business (BC) zoning allows a variety of uses, including professional services and retail, according to the stated zoning information.
The property is located at 951 Grand Ave in Saint Paul, along Grand Avenue. A large parking lot at the rear serves guests and staff. City of St. Paul Community Business (BC) zoning allows a variety of uses, including professional services and retail, according to the stated zoning information.
Key Highlights
- 4,107‑square‑foot office property built in 1912
- Three‑level building with unfinished basement and 3rd level
- Private offices, conference rooms, and kitchenette
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
$50,945
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
6.57%
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%
$1,018,900
$1.0M
Cap Rate 7%
$727,786
$727.8K
Cap Rate 9%
$566,056
$566.1K
Market Conditions
NOI Build-Up for 4,107 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
$91.7K $22.32/SF
− Vacancy
−$23.7K −$5.78/SF
EGI
$67.9K $16.54/SF
− OpEx
−$17.0K −$4.13/SF
NOI
$50.9K $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%
$1,018,900
Cap Rate 7%
$727,786
Cap Rate 9%
$566,056
Alternative Uses
Best Use
Office B
$727.8K
$636.8K – $849.1K
NOI $50,945 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.01M
$884.3K – $1.18M
NOI $70,747 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 55105, MN
28,812
Population
12,045
Households
2.4
Avg Household Size
33
Median Age
78%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
8,232
Density / Sq Mi
$108,200
Median Household Income
$51,131
Median Earnings
$1,240
Median Rent
$453,300
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 building - BC-zoned office property with private workspaces, meeting rooms, a kitchenette, and rear parking.
Where is this office building located?
The property is located at 951 Grand Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4,107‑square‑foot office property built in 1912; Three‑level building with unfinished basement and 3rd level; Private offices, conference rooms, and kitchenette
