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    1179 7Th St Saint Paul, MN 55106

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    1179 7Th St Saint Paul, MN 55106

    View on Map
    • Commercial real estate
    • 11,447 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US46-0714204
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1179 7Th St

    Year built
    1889
    Lot size
    0.23 lot acres
    Property size
    11,447 SF
    Property type
    Commercial real estate
    APN
    28-29-22-41-0068

    Description

    This fully occupied, six-unit apartment building in Saint Paul, Minnesota presents a compelling investment opportunity. Originally constructed in 1889 and extensively renovated in 2022, the property boasts 11,447 square feet across three stories, situated on a 0.23-acre lot. The building features a mix of spacious one to four-bedroom units, each updated with modern amenities including stainless steel appliances, granite countertops, in-unit laundry, and self-controlled HVAC systems. Residents enjoy ample closet space, tall ceilings, and newer windows. Building features include controlled access entry, security cameras, and off-street parking (12 spaces total). The property benefits from a prime location in Saint Paul, offering easy access to Highways 94 and 494, and proximity to downtown Saint Paul, as well as the suburbs of Oakdale, Woodbury, and Maplewood. Numerous shopping, school, and entertainment options are nearby. The property currently generates a net operating income (NOI) of $88,604, representing a 7.09% capitalization rate. The asking price is $1,250,000, or $208,333.33 per unit, and the property is zoned for multi-family use. This stabilized, value-add investment is in turnkey condition and is ideally suited for a 1031 exchange. The property is professionally managed, with the option to retain current management. The APN is 28-29-22-41-0068.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.050799083972
    Latitude
    44.966698634539

    Comparable in this City

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      Rehabilitated Mixed-Use Building For Sale

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      15,000 SF

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    Similar Nearby for Sale

    • $595,000
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      Saint Paul Multifamily Investment

      Profitable, fully leased 7-unit apartment building with garages.
      935 Case Ave, Saint Paul, MN 55106
      View Details
    • $750,000

      Rehabilitated Mixed-Use Building For Sale

      Rehabilitated mixed-use building with office and residential units.
      1076 Maryland Ave E, Saint Paul, MN 55106
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    • $1,154,000
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      Saint Paul Apartment Building

      Eleven-unit apartment building in the heart of East St. Paul.
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      View Details
    • Contact for pricing
      15,000 SF

      Multifamily Community with Varied Units

      Three-story multifamily property featuring a mix of unit layouts.
      348 Maria Ave, Saint Paul, MN 55106
      View Details
    • $1,595,000
      0.14 Acres

      Saint Paul Multifamily Investment Property

      16-unit apartment complex in high-demand East St. Paul location.
      881-889 Maryland Ave E, Saint Paul, MN 55106
      View Details
    • Contact for pricing

      Spacious Duplex in Saint Paul

      Side-by-side duplex with flexible layout and income potential.
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      View Details

    Similar Nearby for Lease

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      50,094 SF

      Retail Space For Lease/Sale

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      Retail Space on Signalized Corner

      Retail space available on a busy, signalized corner.
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    Saint Paul, MN 55106
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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
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