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    4Th St Saint Paul, MN 55101

    Sponsored
    For Lease
    $7 SF/Yr

    9-Story Office, 18 Suites Available

    Lot size:
    98,670 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    The Northwestern Building, a 98,670-square-foot, nine-story office building located at 275 4th Street E, Saint Paul, MN 55101, presents a unique investment opportunity. Built in 1916 and renovated in 1923, this Class C building is listed on the National Register of Historic Places and offers a blend of traditional and creative office spaces. The building features 130 total suites, with 18 currently available, ranging from 336 to 2,419 contiguous square feet. The maximum contiguous space available is 2,419 square feet. Amenities include two passenger and freight elevators, high-speed internet, 24/7 tenant access, and a convenient on-site dessert restaurant. Several suites can be combined to accommodate larger tenants' needs, potentially including kitchenettes. The 0.32-acre property is zoned B5 and boasts high ceilings and large windows offering views of downtown Saint Paul. Its prime Lowertown location provides easy access to I-94 and the I-94/I-35 interchange, placing it within close proximity to CHS Field, Xcel Energy Center, Regions Hospital, M Health Fairview St. Joseph's, and the Minnesota State Capitol. Lowertown's vibrant atmosphere, featuring repurposed warehouses now housing event spaces, art galleries, and restaurants, adds to the building's appeal. This property offers a compelling combination of historic charm, modern amenities, and a strategic location in the heart of Saint Paul's thriving Lowertown district. The APN is 32-29-22-33-0053. Currently, 18,215 square feet of space is vacant.

    Property Features for 0 4Th St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    98,670 SF
    Class
    C
    Total Rate
    61915.42

    Building Details

    Year Built/Renovated
    1916/1923
    Buildings
    1
    Stories
    9

    Unit(s) available at that property

    Space
    Suite 200
    Size
    2,419 SF
    Rate per SF
    $17
    Space
    Suite 370
    Size
    406 SF
    Rate per SF
    $14
    Space
    Suite 380
    Size
    1,213 SF
    Rate per SF
    $15
    Space
    Suite 520
    Size
    745 SF
    Rate per SF
    $17
    Space
    Suite 697
    Size
    466 SF
    Rate per SF
    $18
    Space
    Suite 801
    Size
    542 SF
    Rate per SF
    $18
    Space
    Suite 802
    Size
    1,122 SF
    Rate per SF
    $20
    Space
    Suite 803
    Size
    576 SF
    Rate per SF
    $22
    Space
    Suite 804
    Size
    547 SF
    Rate per SF
    $21
    Space
    Suite 813
    Size
    484 SF
    Rate per SF
    $20
    Space
    Suite 625
    Size
    558 SF
    Rate per SF
    $20
    Space
    Suite 818/819
    Size
    468 SF
    Rate per SF
    $21
    Space
    Suite 510
    Size
    971 SF
    Rate per SF
    $17
    Space
    Suite 400
    Size
    1,506 SF
    Rate per SF
    $16
    Space
    Suite 781
    Size
    336 SF
    Rate per SF
    $21
    Space
    Suite 430
    Size
    408 SF
    Rate per SF
    $18
    Space
    Suite 696
    Size
    343 SF
    Rate per SF
    $19
    Space
    Suite 900
    Size
    1,338 SF
    Rate per SF
    $7

    HighLights

    • 98,670 SF, nine‑story Class C office building in Saint Paul, MN.
    • Historic building listed on the National Register of Historic Places, offering 130 suites (18 currently available, 336‑2,419 SF contiguous).
    • Prime Lowertown location near I‑94/I‑35 interchange, CHS Field, Xcel Energy Center, and major hospitals.
    • Amenities include two elevators, high‑speed internet, 24/7 access, and an on‑site restaurant.
    • 18,215 SF currently vacant; potential for larger tenant spaces by combining suites.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Saint Paul
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.08548125
    Latitude
    44.94893189

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    FAQs

    What type of property is this?
    Office space - 9-Story Office, 18 Suites Available
    Where is this office space located?
    The property is located at 4Th St Saint Paul, MN.
    What is the lease rate?
    The lease rate is $7-$22 SF/Yr.
    What are key features of this property?
    This property features: 98,670 SF, nine-story Class C office building in Saint Paul, MN.; Historic building listed on the National Register of Historic Places, offering 130 suites (18 currently available, 336-2,419 SF contiguous).; Prime Lowertown location near I-94/I-35 interchange, CHS Field, Xcel Energy Center, and major hospitals.
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    4Th St Saint Paul, MN 55101
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    Saint Paul, MN 55101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4Th St Saint Paul, MN 55101
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