1349 S Robert St - Office FOR SALE


West Saint Paul, MN 55118
$650,000 USD
507-951-2960
1349 S Robert St, West Saint Paul, MN for Sale
$650,000 USD
Office - FOR SALE
1/3
null | Request Cap Rate

1349 S Robert St
West Saint Paul, MN 55118


HIGHLIGHTS

  • Signi?cant Upside Potential Via Filling Vacancies or Redevelopment
  • Located in a Major Retail Corridor Including Tenants Such as Walmart, Target, Lowe's, Menard's, US Bank, LA Fitness, Taco Bell, Raising Cane's and Man
  • Adjacent Walmart and Target Have Strong Placer.ai Reports With 2.3 Million and 2 Million Visits Respectively in Trailing Twelve Months
  • Hard Corner Signalized Site on .38 Acres +/-
  • Traf?c Counts of Approximately 20,000 Vehicles Per Day
  • Rents For Several Tenants Have Not Been Increased in Over Ten Years

OVERVIEW

Marcus & Millichap is pleased to exclusively offer for sale Colonial Manor, a multi-tenant of?ce building located at 1349 South Robert Street in West Saint Paul, Minnesota. This asset offers investors multiple avenues to create value. One approach could be an of?ce value-add strategy with getting vacancies ?lled and converting existing gross leases to triple net. Another approach could be redeveloping the site taking advantage of the highly desirable location from a retail location perspective. Of?ce Value-Add: The building bene?ts from strong visibility, attractive curb appeal, and consistent demand for small of?ce/service suites — providing the savvy investor opportunity to unlock major upside through cosmetic updates and strategic lease-up including bringing rents up to market rate and converting them to triple net leases thus capturing CAM reimbursements for additional income. Redevelopment Opportunity: The property's highly visible location at a signalized intersection along Robert Street and traf?c counts exceeding 20,000 vehicles per day, highlight the phenomenal redevelopment potential. The site's B3 General Business zoning allows investors to pursue a vast array of commercial uses. Investors could bene?t from existing cash ?ow while planning a future redevelopment strategy.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$127 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colonial Manor

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

A

APN/PARCEL ID

42-21900-02-152

ASK ABOUT THIS PROPERTY

Tom GommelsMarcus & MillichapMore Info
507-951-2960

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tom GommelsMarcus & MillichapMore Info
507-951-2960

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.