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    2047 Grand Ave Saint Paul, MN 55105
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    2047 Grand Ave, Saint Paul, MN 55105

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    • Investment properties
    • 3,452 SF
    • 0.17 lot acres
    For Sale
    $625,000
    View Listing →
    Grand Avenue Mixed-Use Property For Sale
    $625,000
    3,452 SF

    Grand Avenue Mixed-Use Property

    Mixed-use property on Grand Avenue with salon and rental units.

    2047 Grand Avenue, Saint Paul, MN 55105
    View Listing
    Property ID
    US46-0006719
    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

    • Investment properties

    Property Details for 2047 Grand Ave

    Year built
    1924
    Construction
    WOOD FRAME
    Lot size
    0.17 lot acres
    Zone code
    L
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04-28-23-32-0021
    APU
    42823320021

    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
    -93.1868
    Latitude
    44.9404
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,554
    $225,000
    $309,500
    $534,500
    -
    $225,000
    $309,500
    $534,500

    Comparable in this City

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      1576 Jefferson Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1576 Jefferson Ave, Saint Paul, MN 55105-3496
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      1522 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1522 Grand Ave, Saint Paul, MN 55105-2252
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      3,579 SF

      1838 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1838 Grand Ave, Saint Paul, MN 55105-1403
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    • Value Estimation
      $2,270,000
      18,395 SF

      664 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      664 Grand Ave, Saint Paul, MN 55105
      View Details
    • Value Estimation by Request
      4,698 SF

      1696 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1696 Grand Ave, Saint Paul, MN 55105-1806
      View Details

    Similar Nearby for Sale

    • New
      $3,850,000
      18,851 SF

      Mixed-Use Building with Turn-Key Bar

      Well-maintained 10-unit mixed-use property with leased offices and apartments plus a fully built-out restaurant/bar ready to operate.
      664 Grand Ave, Saint Paul, MN 55105
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    • $550,000
      Pending

      Grand Avenue Mixed-Use Duplex

      Remodeled commercial space with residential unit on Grand Avenue.
      1363 Grand Ave, Saint Paul, MN 55105
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    • New
      $1,225,000
      7,100 SF

      3-Unit Mixed-Use Corner Building

      Corner mixed-use building with a tenant-anchored first floor and two second-floor office suites.
      1154 Grand Ave, Saint Paul, MN 55105
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    • Contact for pricing
      Pending

      Grand Avenue Mixed-Use Property

      Mixed-use property on Grand Avenue with salon and rental units.
      2047 Grand Ave, Saint Paul, MN 55105
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      3,368 SF

      Historic Grand Avenue Office Mansion

      3,146 SF historic mansion on Grand Avenue for sale.
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      Redevelopment Opportunity in Saint Paul

      Prime 0.7-acre site in vibrant retail and residential area.
      1800 Grand Ave, Saint Paul, MN 55105
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    Similar Nearby for Lease

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      2,377 SF

      Retail Space on Grand Avenue

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      13,469 SF

      Grand Avenue Retail Opportunity

      Retail spaces available in a renowned St. Paul shopping district.
      870-970 Grand Ave, Saint Paul, MN 55105
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      2,603 SF

      Prime Retail Space on Grand

      Retail property in St. Paul's shopping district, parking available.
      1064-1068 Grand Ave, Saint Paul, MN 55105
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      Office/Industrial Park on Mississippi River

      Office and industrial space in revitalized business district.
      335 Randolph Ave, Saint Paul, MN 55105
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      Turnkey Salon on High Traffic

      Salon space available for lease on a high traffic corridor.
      1561 Randolph Ave, Saint Paul, MN 55105
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      Retail End Cap on Grand

      Highly visible retail space on St. Paul's iconic Grand Avenue.
      1064 Grand Ave, Saint Paul, MN 55105
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    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      5.2k
    • Avg Time on site
      6 min
    View Listing
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    Saint Paul, MN 55105
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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.

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