Property profile

5960 Hwy 61st N Saint Paul, MN 55110

OFF-MARKET
Strip malls
Property ID
US46-0264639
11,824 SF 1.95 ac lot Built 1958
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1958
Construction WOOD FRAME
Total area 11,824 SF
Lot 1.95 ac (84,942 SF)
Zoning code D
APN 01-30-22-22-0004
UPID US46-0264639

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Vocational School Training Center
  • (Bike/Boat/Book/etc) Store Wine and Liquor Store
  • Insurance Agency

Location

5960 Hwy 61st N Saint Paul, MN 55110-2456
Saint Paul metro Census 40102 MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.37M
CAP Approach CAP
$1.61M
Comparable Approach Comparable
$1.45M
Blend (final) Blend
$1.34M

Owner & transaction history

since 2022
Last sale
$1.9M
7 recorded transactions
2022
$1.9M
2020
$500
2020
Price N/A
2017
Price N/A
2012
$45,000
2002
$500,000
1999
$350,000

Zoning & alternative use

D · Saint Paul, MN
Top alternative use upside
Auto repair, garage $2.4M +20.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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