286 Marshall Avenue
Former Long-Term Residential Facility, Now Vacant and Available
Marketing description
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 units and one studio apartment unit. Of the 70 SRO units, 55 are regular sized 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.
Investment highlights
Tremendous Value-Add Potential: Priced well below replacement costs, the existing building possesses the infrastructure to provide for immediate use and occupancy.
Optionality of Use: The existing building is ready for occupancy with some needed upgrades, or an investor/user can redevelop the site to multi-family uses appealing to today’s apartment renters.
Easy Access to Multiple Points of Interest: Almost immediate access to I-94 and I-35E, the St. Paul Cathedral, St. Paul College, and the downtown St. Paul core. Further, the nearby area is populated with a variety of dining establishments and bars.
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