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189-191 7th St E
Saint Paul, MN 55101
Walsh Building · Retail Property For Sale
Investment Highlights
- 19-unit dormitory-style multifamily in Downtown Saint Paul's entertainment district
- Historic 1885 asset eligible for up to 40% in Historic Rehabilitation Tax Credits
- Same owner for ~40 years with consistent stewardship and stable tenant base
- Below-market rents with value-add upside through rent repositioning
- Recent capital improvements: new rubber roof (2022) and new boiler (2025)
- Walkable to CHS Field, Union Depot, Capitol Complex, dining, and nightlife
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,800 SF
Building Class
C
Year Built
1889
Price
$1,350,000
Price Per SF
$137.76
Cap Rate
10.33%
NOI
$139,486
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.40
Lot Size
0.09 AC
Zoning
B-5 - Central Business Service District
Frontage
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 31-29-22-44-0010 | Improvements Assessment | $966,100 |
| Land Assessment | $203,300 | Total Assessment | $1,169,400 |
Property Taxes
Parcel Number
31-29-22-44-0010
Land Assessment
$203,300
Improvements Assessment
$966,100
Total Assessment
$1,169,400
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