Listed by Suntide Commercial Realty
$2,450,000
734 Grand Ave, St. Paul, MN 55105
Details
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Square Footage 14,337
Cap Rate 6.69%
NOI $164,025
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Net
Remaining Term 3
Price per SqFt $171
Year Built 1914
Year Renovated 1988/2006
Buildings 1
Stories 1
Acreage 0.560
Zoning B3 General Business
Investment Type Redevelopment
Occupancy Date 03/30/2029
Investment • Repositioning • Redevelopment Opportunity: Retail, Residential or Mixed-Use Opportunity
Marketing description
The site presents a potential opportunity for future mixed-use redevelopment, including residential units above ground-floor retail. A strong underlying building is currently masked by the existing façade. Redevelopment would provide the opportunity to re-tenant the property to higher-rent boutique, restaurant, medical, or experiential users.
Highlights
- Prime Grand Avenue frontage with excellent visibility and access
- Large-format retail footprint (rare on the corridor)
- In-place income from Walgreens through March 31, 2029
- Strong underlying land value on an irreplaceable Saint Paul commercial corridor
- Hard to find off-street parking on Grand Avenue
- Re-tenanting to higher-rent boutique, restaurant, medical, or experiential users
- Potential redevelopment into residential or mixed-use including retail
- In-place rents below market with future upside
Investment highlights
The site presents a potential opportunity for future mixed-use redevelopment, including residential units above ground-floor retail. A strong underlying building is currently masked by the existing façade. Redevelopment would provide the opportunity to re-tenant the property to higher-rent boutique, restaurant, medical, or experiential users.
Highlights
- Prime Grand Avenue frontage with excellent visibility and access
- Large-format retail footprint (rare on the corridor)
- In-place income from Walgreens through March 31, 2029
- Strong underlying land value on an irreplaceable Saint Paul commercial corridor
- Hard to find off-street parking on Grand Avenue
- Re-tenanting to higher-rent boutique, restaurant, medical, or experiential users
- Potential redevelopment into residential or mixed-use including retail
- In-place rents below market with future upside
Listing Contacts
Listed by Suntide Commercial Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$164,025.00
$13,668.75/mo
Valuation Metrics
0
DSCR
6.69%
Cap Rate
6.69%
ROI
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