289 5Th StSaint Paul, MN 55101

Property Details for 289 5Th St

Year built

1902

Lot size

0.11 AC

Property size (Sq ft)

4,787 SF

Property type

Office properties

APN

32-29-22-33-0386

APU

322922330386

Description

This exceptional opportunity presents a vacant, 18,000-square-foot Class A creative office space in a beautifully renovated 1902 brick building located at 289 5th St E, Saint Paul, MN 55101. The property, encompassing a single nine-story building, underwent a significant renovation in 2016, boasting open timber construction, hardwood floors, and expansive 7' x 4' windows on three sides, offering abundant natural light. The space is ideal for tenants seeking 1,500 to 3,500 square feet of office lease space. Amenities include a secured second-floor condo with elevator access, an impressive multi-level atrium, and a luxurious open kitchen for tenant use. Its prime location next to the St. Paul Saints ballpark and the Farmers' Market provides convenient access and ample parking. The property is zoned B-5 and offers multiple space options. The asking price is $995,000, translating to $55.28 per square foot. This is a value-add investment opportunity with a modified lease type. The building features one unit across 18,000 net rentable square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $880,115

  6.5%

  $812,414

  7%

  $754,384

• Comparable approach

  Method

  Valuation

  Relative Method

  $244,328

  Geo Method

  $244,328

• Alternative Use

  Use

  Valuation

  Residential

  $1,007,393

  Hospitality

  $922,766

  Educational

  $767,731

  Medical

  $794,134

  Retail

  $1,194,248

Location Insight

City

Saint Paul

County

Ramsey

State

Minnesota

Latitude

44.9503

Longitude

-93.0856

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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