5960 Hwy 61st N Saint Paul, MN 55110-2456
- Strip malls
- 11,824 SF
- 1.95 lot acres
Apr 08, 2022
Current Use by Public Records
- MidWest School of Diving / Scuba Instructor / Dive Shop
- Bald Eagle Liquor / Liquor Store
- Mark Knabe Insurance & Financial Agency, Inc / Renter'S Insurance Agency / Insurance Agency
Property Details for 5960 Hwy 61st N
- Year built
- 1958
- Construction
- WOOD FRAME
- Lot size
- 1.95 lot acres
- Property size
- 11,824 SF
- Zone code
- D
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 01-30-22-22-0004
- APU
- 13022220004
Description
This 1,575-square-foot retail space, located in the Bald Eagle Shoppes Suite 2 at 5960 Hwy 61 N, St. Paul, MN 55110, is currently available. Situated in a Class B building constructed in 2002 and renovated in 2021, this single-tenant space is part of a larger 12,944-square-foot complex with two buildings and two stories. The property sits on 1.95 acres of land and boasts 71 total parking spaces, providing ample parking for customers and employees. The space features 9-foot ceilings (with potential to reach 10 feet), two entryways, a main area, a changing area, and a unisex bathroom. Currently configured for a martial arts studio, the open layout is adaptable to various retail or office uses, including but not limited to fitness studios (yoga, Pilates, CrossFit, MMA, etc.), coffee shops, or other retail concepts. The property enjoys high visibility and accessibility, with over 20,000 vehicles passing daily on Highway 61. Its location in White Bear Township offers excellent proximity to affluent suburbs like White Bear Lake, Hugo, and Mahtomedi. The zoning is designated for Retail and Office use. Taxes are approximately $4.25 per square foot. The base rent is negotiable, ranging from $18 to $23 per square foot NNN, depending on lease length and tenant improvement needs. A potential drive-thru window (up to 4 vehicles) is also a possibility. Access to common areas of adjacent executive office suites is included for up to two owner/manager personnel. Power is 120V. There are no elevators. The cross streets are Highway 61 and County Road J.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,335,000
- ML approach
- $1,370,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,740,000
- 6.5%
- $1,605,000
- 7%
- $1,490,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,449,000
Market price range: $1.33M - $2.90M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,985,000 Current use
- AUTO REPAIR, GARAGE
- $2,395,000 Change: +21% Conversion: Difficult
- MEDICAL BUILDING
- $1,740,000 Change: -12% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Ramsey
- State
- Minnesota
- Longitude
- -93.0026
- Latitude
- 45.1223
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
