Corner Industrial
For Sale
$2,999,999
976 Minnehaha Avenue W, Saint Paul, MN 55104
A flexible industrial layout combines warehouse, showroom, office, and upper-level flex areas with fenced outdoor storage.
Property Size38,942 SF
Lot Size1.17 Acres
Price / SF$77.04
Days on Market24
Property Features for 976 Minnehaha Avenue W
General Information
Standard status
Active
Size
38,942 SF
Total Parking Spaces
14
Lot size
1.17 Acres
Property subtype
Commercial
Zoning
I-1
Lease Term
[]
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Asking Price
$2,999,999
Amenities
Partially Wheelchair
Building Details
Year Built
1955
Buildings
1
Stories
2
Building Size
38,942 SF
Listing Agency:
RE/MAX Results
Listed By:
Mark K Hulsey
(952) 949-0263
Source:
C21atwood
Added: Sep 12
Changed: Oct 4
Last Checked: Oct 4 at 1:59PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 38,942-square-foot warehouse occupies a 1.17-acre corner site at 976 Minnehaha Avenue W in Saint Paul. The building contains 28,410 square feet on the first floor and 10,532 square feet on the second. Interior areas include warehouse space, retail and showroom areas, breakrooms, private offices, and additional upper-level flex space. Clear heights range from 12 to 14 feet. Loading is served by one drive-in door and one combination drive-in/dock door. Six restrooms are distributed across the two floors.
A fenced private lot provides parking and outdoor storage, including a secured area behind the building. The property has approximately 14 customer parking spaces along its side, with street parking also available. I-1 Light Industrial zoning supports light-industrial, warehouse, production, distribution, office, and related commercial uses. The site fronts Minnehaha Avenue, is near highways and downtown Saint Paul, and lies along a bus route.
A fenced private lot provides parking and outdoor storage, including a secured area behind the building. The property has approximately 14 customer parking spaces along its side, with street parking also available. I-1 Light Industrial zoning supports light-industrial, warehouse, production, distribution, office, and related commercial uses. The site fronts Minnehaha Avenue, is near highways and downtown Saint Paul, and lies along a bus route.
Key Highlights
- 38,942 SF building on a 1.17‑acre corner site
- 28,410 SF on the first floor and 10,532 SF on the second floor
- 12'-14' clear heights; one drive‑in door and one combination drive‑in/dock door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,471
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,420
$2.4M
Cap Rate 7%
$1,749,586
$1.7M
Cap Rate 9%
$1,360,789
$1.4M
Market Conditions
NOI Build-Up for 38,942 SF
Gross rent
$196.3K $5.04/SF
− Vacancy
−$7.9K −$0.20/SF
EGI
$188.4K $4.84/SF
− OpEx
−$65.9K −$1.69/SF
NOI
$122.5K $3.14/SF
Area
Ramsey County, MN
Vacancy
4.00%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,420
Cap Rate 7%
$1,749,586
Cap Rate 9%
$1,360,789
Alternative Uses
Best Use
Warehouse
$7.34M
$6.42M – $8.56M
NOI $513,710 @ 7.0% cap · market cap 17.12%
Second Best
Industrial
$6.04M
$5.29M – $7.05M
NOI $423,055 @ 7.0% cap · market cap 14.10%
Theoretical Best
Office A
$9.29M
$8.13M – $10.84M
NOI $650,353 @ 7.0% cap · market cap 21.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - A flexible industrial layout combines warehouse, showroom, office, and upper-level flex areas with fenced outdoor storage.
Where is this warehouse located?
The property is located at 976 Minnehaha Avenue W Saint Paul, MN.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 38,942 SF building on a 1.17‑acre corner site; 28,410 SF on the first floor and 10,532 SF on the second floor; 12'-14' clear heights; one drive‑in door and one combination drive‑in/dock door
