Flex Space with Fenced
For Sale
$2,999,999
976 Minnehaha Avenue W, Saint Paul, MN 55104
Commercial Sale, Saint Paul, MN
Property Size38,942 SF
Lot Size1.17 Acres
Price / SF$77.04
Days on Market21
Property Features for 976 Minnehaha Avenue W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Parking features
Parking Lot
Fireplace
1
Accessibility
Accessible Approach with Ramp
Subdivision
Section 35 Town 29 Range 23
High school district
St. Paul
Directions
Located on the South side W Minnehaha Ave between Chatsworth St N &Victoria St N
Standard status
Active
APN
352923210016
Lot size
1.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
77934
Utilities
Heating system
Fireplace(s)
Building Details
Year built
1955
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Mark K Hulsey · License #40169559
(952) 829-2900
Added: Sep 15
Changed: Oct 1
Last Checked: Oct 5 at 4:06PM
MLS# 7144774
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 38,942-square-foot flex property occupies a 1.17-acre corner parcel in Saint Paul. The building dates to 1955 and includes 28,410 square feet on the first floor and 10,532 square feet on the second. Its layout combines warehouse and showroom areas with offices, breakrooms, and additional upper-level flex space. Loading is served by one drive-in door and one combination drive-in/dock door. Six restrooms are distributed between the floors.
The fenced private lot provides outdoor storage and parking, with approximately 14 customer spaces along the building and additional street parking. The property has I-1 light industrial zoning and sits on Minnehaha Avenue W, with nearby highway access and a bus route.
The fenced private lot provides outdoor storage and parking, with approximately 14 customer spaces along the building and additional street parking. The property has I-1 light industrial zoning and sits on Minnehaha Avenue W, with nearby highway access and a bus route.
Key Highlights
- 38,942 square feet across two floors: 28,410 SF on the first floor and 10,532 SF on the second
- 1.17‑acre corner site with a fenced lot for outdoor storage and parking
- 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
1
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
894
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Flex space - An adaptable interior combines warehouse, showroom, office, and upper-level flex areas.
Where is this flex space 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 square feet across two floors: 28,410 SF on the first floor and 10,532 SF on the second; 1.17‑acre corner site with a fenced lot for outdoor storage and parking; One drive‑in door and one combination drive‑in/dock door
