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Menlo Park 1246 University Ave W 77,517 SF 100% Leased Office Building Saint Paul, MN 55104 $5,115,900 CAD ($66.00 CAD/SF)
Investment Highlights
- Located near Lexington Station & Hamline Station (light rail), Super Target, & Allianz Stadium.
- There are new residential housing projects next door & in the neighborhood -Twelve 22 Apartments; The Nine at Lexington Station; Hamline Station; etc.
- The property has good visibility on University Ave.
- Located near parks, schools, retail, restaurants, bus stops, other nonprofit headquarters, etc.
Executive Summary
Offered now at 3.75M, a mark down from $4,995,000 ($65.44/sf), this 77,517 sf property—formerly Nuway site and previously BCA/State of MN—is located on 1.561 acres with 355 feet of frontage along University Avenue. The four story property was built in 1929 and has been renovated multiple times. NOTE THAT IT IS APPROVED AS A DETOX CENTER AND FOR RESIDENTIAL USE. The fourth floor is mid-way through construction to a residential chemical dependency and mental health treatment program-residence for more that 16 residents, I-1 Condition 2. seller is Nuway 1246 LLC, a nonprofit. Capital improvements total $2M. Signage opportunities and buyer agents are welcome. Other residential uses also allowed.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
77,517 SF
Building Class
B
Year Built
1929
Price
$5,115,900 CAD
Price Per SF
$66.00 CAD
Percent Leased
100%
Building Height
4 Stories
Typical Floor Size
19,379 SF
Building FAR
1.14
Lot Size
1.56 AC
Opportunity Zone
Yes
Zoning
T4 - Traditional Neighborhood
Parking
78 Spaces (1.01 Spaces per 1,000 SF Leased)
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 34-29-23-42-0002 | Improvements Assessment | $2,185,999 CAD |
| Land Assessment | $2,329,795 CAD | Total Assessment | $4,515,794 CAD |
Property Taxes
Parcel Number
34-29-23-42-0002
Land Assessment
$2,329,795 CAD
Improvements Assessment
$2,185,999 CAD
Total Assessment
$4,515,794 CAD
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Menlo Park | 1246 University Ave W
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