FOR SALE 293 COMO AVE, SAINT PAUL, MN 55103 PERFECT FOR ... · City, State, Zip Saint Paul, MN...

FOR SALE 293 COMO AVE, SAINT PAUL, MN 55103PERFECT FOR INVESTOR OR OWNER/USER

Presented By:

Mark Hulsey | Managing Broker | 651.256.7404 | [email protected]

Hayden Hulsey, CCIM | Commercial Broker | 651.256.7404 | [email protected]

LOCATION INFORMATION 16

DEMOGRAPHICS 23

ContentsConfidentiality & DisclaimerAll materials and information received or derived from RE/MAX Results - Commercial Group its

directors, officers, agents, advisors, affiliates and/or any third party sources are provided without

representation or warranty as to completeness , veracity, or accuracy, condition of the property,

compliance or lack of compliance with applicable governmental requirements, developability or

suitability, financial performance of the property, projected financial performance of the property

for any party’s intended use or any and all other matters.

Neither RE/MAX Results - Commercial Group its directors, officers, agents, advisors, or affiliates

makes any representation or warranty, express or implied, as to accuracy or completeness of the

any materials or information provided, derived, or received. Materials and information from any

source, whether written or verbal, that may be furnished for review are not a substitute for a party’s

active conduct of its own due diligence to determine these and other matters of significance to

such party. RE/MAX Results - Commercial Group will not investigate or verify any such matters or

conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all

information and to conduct their own inspections and investigations including through

appropriate third party independent professionals selected by such party. All financial data should

be verified by the party including by obtaining and reading applicable documents and reports and

consulting appropriate independent professionals. RE/MAX Results - Commercial Group makes no

warranties and/or representations regarding the veracity, completeness, or relevance of any

financial data or assumptions. RE/MAX Results - Commercial Group does not serve as a financial

advisor to any party regarding any proposed transaction. All data and assumptions regarding

financial performance, including that used for financial modeling purposes, may differ from actual

data or performance. Any estimates of market rents and/or projected rents that may be provided to

a party do not necessarily mean that rents can be established at or increased to that level. Parties

must evaluate any applicable contractual and governmental limitations as well as market

conditions,vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be

discussed by the party with a certified public accountant or tax attorney. Title questions should be

discussed by the party with a title officer or attorney. Questions regarding the condition of the

property and whether the property complies with applicable governmental requirements should

be discussed by the party with appropriate engineers, architects, contractors, other consultants and

governmental agencies. All properties and services are marketed by RE/MAX Results - Commercial

Group in compliance with all applicable fair housing and equal opportunity laws.

51,374 SQUARE FOOT - FLEX (INDUSTRIAL + OFFICE) - 24 UNITS293 COMO AVENUE, SAINT PAUL, MN 55103

TABLE OF CONTENTS

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OFFERING SUMMARY

Sale Price: $1,250,000

Lot Size: 0.5 Acres

Year Built: 1908

Building Size: 51,374

Zoning: I-1 Light Industrial

Traffic Count: 14,600

Price / SF: $24.33

Perfect for investor or Owner/User. 51,374 SF Flex (Industrial/Office) located just minutes from downtown St. Paul onComo Ave. Stable income with big value add opportunity. Regularly serviced freight elevator that serves each floor.Rear of building has a ramp, pick-up truck height dock, and semi-truck height dock. All tenants are month tomonth with some in place for 30+ years. Rents are well below market rates. Mix of Gross and Modified Gross leases.Fantastic building and location for an owner/user to step in or an investor to purchase and generate additionalincome quickly.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Flex: Industrial/Office

• 50,000 Square Feet

• Stable Income with Big Value Add Opportunity

• Price Per Square Foot: $24.33/SF

• High Traffic Area — 14,600 VPD on Como Ave

• Minutes from Downtown St. Paul

• All Gross or Modified Gross Leases

S E C T I O N / P A G E 351,374 SQUARE FOOT - FLEX (INDUSTRIAL + OFFICE) - 24 UNITS293 COMO AVENUE, SAINT PAUL, MN 55103

EXECUTIVE SUMMARY

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SALE PRICE $1,250,000

LOCATION INFORMATION

Building Name 293 Como

Street Address 293 Como Avenue

City, State, Zip Saint Paul, MN 55103

County/Township Ramsey

Cross Streets W Minnehaha Ave

BUILDING INFORMATION

Building Size 51,374 SF

Tenancy Multiple

Number Of Grade Level Doors 1

Number Of Dock High Doors 1

Number Of Floors 3

Average Floor Size 16,958 SF

Year Built 1908

Load Factor Yes

Roof Gravel. At least 15 years old. Some patch

work completed.

Free Standing No

Number Of Buildings 1

Ceilings Mix of Exposed wood and drop ceilings.

PROPERTY DETAILS

Property Type Industrial

Property Subtype Flex Space

Zoning I-1 Light Industrial

Lot Size 0.5 Acres

APN# 362923120003

Traffic Count 14,600

Traffic Count Street Como Ave

2017 Taxes $36,724

PARKING & TRANSPORTATION

Parking Type Surface

Parking Description Spaces on both the NW (left side of bldg) & NE (back)

sides of building. Adjacent lot to the West can be used

for parking.

Trailer Parking Spaces on both the NW (left side of bldg) & NE (back)


for parking.


PROPERTY DETAILS

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SALE PRICE $1,250,000PARKING & TRANSPORTATION

Parking Type Surface

Parking Description Spaces on both the NW (left side of bldg) & NE (back)


for parking.

Trailer Parking Spaces on both the NW (left side of bldg) & NE (back)


for parking.

UTILITIES & AMENITIES

Number Of

Elevators

1

Central

HVAC

Heat: Furnaces & Unit Heaters. Rooftop AC for 1st & 2nd level

offices. No heat in basement, but stays comfortable.

Restrooms 6

Sprinklers Only basement is sprinkled. Service was brought in to sprinkle

entire building if needed.

Gas /

Propane

2 gas meters. One main for the building and separate gas

meter for screen printing tenant.

Exterior

Description

Brick


PROPERTY DETAILS


PHOTO GALLERY

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PHOTOS

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PHOTOS

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PHOTOS

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S E C T I O N / P A G E 1 051,374 SQUARE FOOT - FLEX (INDUSTRIAL + OFFICE) - 24 UNITS293 COMO AVENUE, SAINT PAUL, MN 55103

PHOTOS

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PHOTOS

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BASEMENT1

S E C T I O N 2 / P A G E 1 851,374 SQUARE FOOT - FLEX (INDUSTRIAL + OFFICE) - 24 UNITS293 COMO AVENUE, SAINT PAUL, MN 55103

FLOOR PLAN

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MAIN LEVEL2


FLOOR PLAN

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UPPER LEVEL3


FLOOR PLAN

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The adjacent property owned by Advance Disposal and will be purchased by the City of St. Paul if/when the Pierce ButlerExtension Project is implemented. Nearby properties will be altered and re-purposed to accommodate the road extensionhowever the building located at 293 Como will remain unchanged. The parking lot to the NW of 293 Como will likely beeliminated as it is a part of the Advance Disposal property. Additional information is available from Broker.


PIERCE BUTLER ROUTE EXTENSION

LOCATION INFORMATION

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L1 - LIGHT INDUSTRIAL

The I1 light industrial district is intended to accommodate wholesale, warehouse, and industrial operations whose external physical effects are restricted to the area ofthe district and in no manner affect surrounding districts in a detrimental way. The I1 district is intended to permit, along with other specified uses, the manufacturing,compounding, processing, packaging, assembly, or treatment of finished or semi finished products from previously prepared material.

For more information on L1 - Light Industrial Zoning please visit: https://library.municode.com/mn/st._paul/codes/code_of_ordinances?nodeId=PTIILECO_TITVIIIZOCO_CH64ZOCOIG_ARTV64.500.SPREZODI_S64.506I3INDI


ZONING

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PARCEL MAP

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293 Como


REGIONAL MAP

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LOCATION MAPS

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RETAILER MAP

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ST. PAUL

Whether you're looking for hockey, history or hops, you’ll find them allin Saint Paul. A blue collar city built on the bluffs of America’s greatestriver - the Mississippi. We are North America’s most romantic getaway,the top-ranked park system and the best local food scene. Saint Paulis known as the “City of Neighborhoods,” each offering a celebrationof the city’s long-cherished heritage and diversity. Life in thesevibrant neighborhood districts flows deep with tradition, with many ofthe restaurants and businesses proudly bearing the names of theimmigrant families who founded them generations ago.

Saint Paul’s history as Prohibition-era hotbed for gangsters, gals andwhiskey runners is well known. Saint Paul celebrates this storied pastby offering tours of sites where the gangsters once lived as theyplanned and executed the most notorious crimes perpetrated in theupper Midwest. Gangster tours highlight the sites of nightclubs,kidnappings and gun battles associated with the lawlessness of the1930’s.

As the arts and culture capital of the Midwest, Saint Paul boasts morethan 52,000 theater seats, three world-class museums,legendary historic sites and a vibrant arts and entertainmentcommunity. The Ordway Center for the Performing Arts, located indowntown Saint Paul, is recognized as one of the nation’s leadingnot-for-profit performing arts centers, with nearly 500 performancesannually, including several Broadway hits. Ordway is also home tothe Minnesota Opera and Saint Paul Chamber Orchestra. Fans ofMinnesota Public Radio can look on as Garrison Keillor broadcasts “APrairie Home Companion” live from the Fitzgerald Theater, namedafter the famous Minnesota author, F. Scott Fitzgerald.


CITY OF ST. PAUL

DEMOGRAPHICS

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POPULATION 2 MILES 2.5 MILES 3 MILES

Total population 82,876 121,139 160,943

Median age 30.6 31.2 31.6

Median age (Male) 30.1 30.4 30.5

Median age (Female) 32.1 32.6 33.1

HOUSEHOLDS & INCOME 2 MILES 2.5 MILES 3 MILES

Total households 35,102 50,400 66,062

# of persons per HH 2.4 2.4 2.4

Average HH income $50,895 $53,891 $56,106

Average house value $255,936 $258,675 $260,871

ETHNICITY (%) 2 MILES 2.5 MILES 3 MILES

Hispanic 8.0% 9.0% 10.0%

RACE (%)

White 49.4% 52.3% 56.1%

Black 24.1% 22.3% 19.8%

Asian 19.1% 17.7% 16.3%

Hawaiian 0.0% 0.0% 0.0%

American Indian 1.1% 1.1% 1.1%

Other 2.4% 2.7% 2.8%

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP

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