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20997119
20997118

421 Wabasha St N, Saint Paul, MN 55102

BB
MN 40677225
The Terrace Group
TR
MN 40821578
The Terrace Group
ED
The Terrace Group
Listed by The Terrace Group
$2,950,000
551 days on market
Updated 5 days ago
Opportunity zone

The Grace Building

Details
Property Type Retail, Office
Sub Type Traditional Office, Storefront
Square Footage 56,000
Class C
Year Built 1941
Buildings 1
Stories 3
Acreage 0.340
Zoning B4 Central Business

Retail | 56,000 SqFt

Marketing description

Since 1941 the Grace Building has been situated at the bustling corner of 7th and Wabasha in the heart of downtown St. Paul. Once home to Shuneman’s and Howard’s department stores, the building helped make up a vibrant retail district along the 7th Street corridor.

Legacy tenant Walgreens occupied a prominent corner from the 1940s to 2018, when shoppers arrived by streetcar to the bright theater lights of 7th Street. The Grace Building was also home to jewelers C.J. Silver and Gittelson’s in the 1950s. Since retail made a departure from the upper floors of the Grace Building, several businesses and organizations have held their offices in the bright, high-ceilinged spaces.

Today, the vibrancy of The Grace Building lives on overlooking the serene 7th Place pedestrian mall. The recently remodeled 2,500-seat Palace Theatre opened in early 2017, complimenting Park Square theatre and bolstering the area’s entertainment options. Across Wabasha Street, the former Macy’s building has been transformed into a state-of-the-art hockey facility for the Minnesota Wild, as well as new office, restaurant, and retail space.

Investment highlights

  • Located in an Opportunity Zone
  • Principal Zoning B4 Central Business
  • Located in the heart of Saint Paul
  • 56,000 square foot central business district building
  • Three story (plus full lower level) mixed-use 1941-built structure
  • Approximate14,000 square foot floor plates
  • 0.34 acre downtown parcel with 100’ of frontage on Wabasha and 150’ on 7th Place Mall
  • Terrazo floors
  • Great natural light with large, operable windows
  • Easy access from I-94, I-35E and Hwy 52
  • Transit access via Green Line and bus routes
  • Many retail and entertainment amenities nearby
  • Great signage and branding opportunities
  • Listing price $2,950,000

Listing Contacts

BB
MN 40677225
The Terrace Group
TR
MN 40821578
The Terrace Group
ED
The Terrace Group
Listed by The Terrace Group

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Zoning

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B4 CommercialCore CommercialCentral Business
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Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics

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