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Menlo Park 1246 University Ave W 77,517 SF Office Building Saint Paul, MN 55104 $4,995,000 ($64.44/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 at $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
Owner User
Property Type
Office
Building Size
77,517 SF
Building Class
B
Year Built
1929
Price
$4,995,000
Price Per SF
$64.44
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
19,379 SF
Slab To Slab
10’
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)
AMENITIES
- Bus Line
- Signage
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 34-29-23-42-0002 | Improvements Assessment | $1,594,700 |
| Land Assessment | $1,699,600 | Total Assessment | $3,294,300 |
PROPERTY TAXES
Parcel Number
34-29-23-42-0002
Land Assessment
$1,699,600
Improvements Assessment
$1,594,700
Total Assessment
$3,294,300
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Menlo Park | 1246 University Ave W
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