821 Grand Ave Saint Paul, MN 55105-3311
- Office buildings
- 5,800 SF
- 0.28 lot acres
Current Use by Public Records
- Jennifer Ivers, Realtor, SRES, Old Home Certified / Real Estate Agent
Property Details for 821 Grand Ave
- Year built
- 1984
- Lot size
- 0.28 lot acres
- Property size
- 5,800 SF
- Zone code
- M
- Property type
- Office buildings
- APN
- 02-28-23-42-0129
- APU
- 22823420129
Description
This exceptional 5,000 square foot, Class B office building presents a compelling value-add investment opportunity. Located on Saint Paul's prestigious Grand Avenue in the Summit/Crocus Hill neighborhood, this property boasts significant curb appeal with an attractive brick exterior, arched two-story entrance, and ample rear parking (17 spaces). The building, constructed in 1985, sits on an 11,979 square foot lot and is zoned for Community Business use. Currently 100% occupied by a single tenant under a NNN lease, the tenant has enjoyed a long-term presence (39 years) and holds a three-year option to renew. This translates to a strong, stable income stream with a 7.37% cap rate and an annual net income of $122,000. The affluent surrounding community, with approximately 171,800 residents within a three-mile radius and an average household income of $123,000, ensures a robust and desirable market. The property's prime location and long-term tenant history make it an attractive investment prospect. This two-story building offers a rare combination of location, parking, and tenant longevity, making it a highly sought-after asset in the Saint Paul commercial real estate market. The property address is 821 Grand Ave, Saint Paul, MN 55105.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Ramsey
- State
- Minnesota
- Longitude
- -93.1347
- Latitude
- 44.9403
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
