2576 7Th AveNorth Saint Paul, MN 55109

Property Details for 2576 7Th Ave

Year built

1967

Lot size

0.16 AC

Property size (Sq ft)

14,264 SF

Zone code

H

Property type

Investment properties

Property subtype

Live-work space

APN

12-29-22-42-0145

APU

122922420145

Description

This exceptional mixed-use property, located at 2576 7th Ave E in North Saint Paul, Minnesota, presents a compelling investment opportunity. The 14,196 square foot building, constructed in 1967 and situated on a 0.36-acre lot, boasts a diverse tenant mix across seven units: three residential apartments, two retail suites, and two warehouse suites. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $77,134, yielding a 7.02% cap rate. The asking price is $1,099,000, translating to $77.42 per square foot and $157,000 per unit. The building is classified as Class C and features 15 parking spaces. The property is zoned Mu-1, allowing for a variety of uses. Lease terms are gross, with rent bumps included. This two-story building offers significant upside potential due to its full occupancy and diverse tenant base, including Rossbach Construction, Sunflower Massage, Fine Dreadlocs, and Enthusiast's Domain. The property's location in charming downtown North Saint Paul (zip code 55109) provides convenient access to local amenities and transportation. This is a rare opportunity to acquire a fully leased, mixed-use property with strong cash flow and significant growth potential. The property's diverse income streams and live/work potential make it an attractive investment for both seasoned and emerging investors.

• CAP approach

  CAP return

  Valuation

  6%

  $2,622,510

  6.5%

  $2,420,779

  7%

  $2,247,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $728,035

  Geo Method

  $728,035

• Alternative Use

  Use

  Valuation

  Residential

  $3,001,766

  Hospitality

  $2,749,601

  Educational

  $2,287,636

  Medical

  $2,366,311

  Retail

  $3,558,545

Location Insight

City

North St Paul

County

Ramsey

State

Minnesota

Latitude

45.0129

Longitude

-92.9904

CBSA code

33460

CBSA name

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

Property Tax & Assessments

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