Property Description

- Fully Leased Desirable 3-Unit Mixed-Use building with Parking located along highly sought after Grand Avenue in St. Paul- ~6.17% Cap Rate - Perfect Investor or 1031 Opportunity- 11 car parking lot immediately behind the building.- Toppers Pizza occupies the entire first floor; second floor consists of two office suites (previously apartments), both occupied by Hovland Music- Toppers Pizza is currently in its first 5-year NNN option term, expiring June 30, 2029, with an additional unexercised 5-year option commencing July 1, 2029- Both office suites are leased by Hovland Music through 2032.- The 2nd floor was previously rented as 2 apartments. Infrastructure remains the same (bathrooms + kitchens) so these could likely be converted back to apartments easily.- Additional income from a billboard lease with Clear Channel, expiring March 31, 2029- Prime corner location with excellent visibility, strong traffic counts, and high pedestrian activity at Grand Ave & S Dunlap St- Gross building area: ~7,100 square feet including basement.- Toppers: ~2,250 SF, Two offices: each ~1,300 SF, Basement: ~2,250 SF- Lot Size: 9,000 square feet (0.21 acres) allowing for future development potential- B2 ? Community Business zoning, allowing for a wide range of permitted commercial and mixed-use applications- Highly walkable, amenity-rich location surrounded by national retailers including Starbucks, Kowalski's, CVS, Walgreens, University of St. Thomas, Macalester College, Concordia University, and many others- Strong demographics, with an average household income of $155,132 within a 0.3-mile radius

Property Features

Local Schools