286 Marshall Ave - Dormitory FOR SALE


Saint Paul, MN 55102- Summit-University
$2,700,000 USD
952-270-2497
286 Marshall Ave, Saint Paul, MN for Sale
$2,700,000 USD
Dormitory - FOR SALE
1/13
null | Request Cap Rate

286 Marshall Ave
Saint Paul, MN 55102
Summit-University


HIGHLIGHTS

  • Tremendous Value-Add Potential
  • Optionality of Use
  • Easy Access to Multiple Points of Interest

OVERVIEW

286 Marshall Avenue was, until recently, St. Christopher Place, a long-term residential care facility owned and operated by Catholic Charities of the Archdiocese of St. Paul and Minneapolis. Catholic Charities remains the owner but has ceased operations at the facility and has elected to market the property through Newmark as its exclusive provider. The property consists of approximately 32,355 square feet spread over four (4) floors containing approximately 70 single room occupancy (SRO) units and one studio apartment unit. Of the 70 SRO units, 55 are regular-sized single rooms, 12 units are larger-sized single rooms, and 3 units are double rooms. In addition, the building features communal kitchen and laundry facilities in the lower level, while the main floor offers a commercial kitchen with a cooler, a dining and entertainment area, a reception desk with controller access, a computer lab, offices, and a large meeting room. The top three floors consist of residential units with communal bathroom facilities on each floor. The building is situated on a rectangular 0.80-acre parcel in the Summit-University neighborhood. Nearby are St. Paul College and Saint Paul's Cathedral, condominium buildings, apartments, and single-family residences. The property as currently configured is uniquely suited to uses such as non-profit residential care, treatment, and institutional uses such as public/private education. Alternatively, the existing building could be removed as a means to develop multi-family housing.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$83 USD /SF

# OF UNITS

71

PRICE/UNIT

$38,028

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

286 Marshall Avenue

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1965

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,736 SF

ZONING

RM2

APN/PARCEL ID

01-28-23-12-0224

ASK ABOUT THIS PROPERTY

Robert PoundsNewmarkMore Info
952-270-2497

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Robert PoundsNewmarkMore Info
952-270-2497

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