FOR SALE 981 UNIVERSITY AVE ST. PAUL, MN 55105 · Saint Paul’s history as Prohibition-era hotbed...

FOR SALE 981 UNIVERSITY AVEST. PAUL, MN 55105

Presented By:

Douglas Harris | Commercial Broker | 651.256.7404 | [email protected]

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

PROPERTY INFORMATION 3

ZONING INFORMATION 7

PROPERTY PHOTOS 12

LOCATION INFORMATION 17

ABOUT THE CITY OF ST. PAUL 20

DEMOGRAPHICS 22

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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

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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

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981 UNIVERSITY AVE WST. PAUL, MN 55104

TABLE OF CONTENTS

PROPERTY INFORMATION

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PROPERTY OVERVIEW

Opportunity Zone. Motivated Sellers! Redevelopment or existing building. 0.34acre corner lot on University Ave & Chatsworth St., prime location, stand alone,Zoned T2 Traditional Neighborhood.

Current use is Bar/Tavern. Perfect retail environment. Easy access fromUniversity Ave & Chatsworth St., off street parking 23 spaces, on the GreenlineLight Rail. The building has ~2,688 SF on main floor, ~2,688 SF in basement.Basement has dry storage, good access to mechanicals, plumbing and electrical,boiler system, ample electric, 2 water heaters, storage room, keg cooler,employee bathroom and breakroom/office area.

Improvements: HVAC, water heater, water meter pipes, exterior repairs to stuccoand roof. Roof 14 years old.

This sale presents an opportunity for an Owner/User or Investor to purchase anasset in an extremely high growth area. Allianz Soccer Stadium has sparked newinterest in the neighborhood with many planned redevelopment projects.

Contact Brokers, Mark Hulsey and Douglas Harris, for more information.

S E C T I O N 1 / P A G E 4981 UNIVERSITY AVE WST. PAUL, MN 55104

PROPERTY OVERVIEW

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OFFERING SUMMARY

Sale Price: $596,000

Lot Size: 0.34 Acres

Year Built: 1916

Gross Building SF (Estimated): 5,376 SF

Zoning: T2 - Traditional

Neighborhood

Price / SF: $110.86

Opportunity Zone. Redevelopment or existing building. Motivated Sellers! 0.34 Acre Corner Lot on University Ave &Chatsworth St, Prime location, stand alone, Zoned T2 Traditional Neighborhood. Sale is real estate only. Easyaccess, 23 off street parking spaces, on the Greenline Light Rail. Opportunity Zone. Looking for offers!

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Opportunity Zone

• 0.341 Acre Corner Lot on University Ave & Chatsworth St.

• Easy Access on University Avenue (Green Line Metro Transit Light Rail)

• 23 Parking Spaces Off Street

• ~2,688 SF Main Floor with ~2,688 Basement

• Zoned T2 – Traditional Neighborhood

• New Financing Required - No Contract for Deed

• Redevelopment or existing building


EXECUTIVE SUMMARY

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SALE PRICE $596,000

LOCATION INFORMATION

Street Address 981 University Ave W

City, State, Zip St. Paul, MN 55104

County/Township Ramsey

Range 23

Section 35

Side Of Street North

Signal Intersection Yes

Road Type Paved

Nearest Highway I-94

Nearest Airport Minneapolis−Saint Paul International Airport

BUILDING INFORMATION

Building Size 5,376 SF

Occupancy % 100%

Year Built 1916

Load Factor Yes

Construction Status Existing

Condition Good

Roof 15 years old

Free Standing Yes

Number Of Buildings 1

PROPERTY DETAILS

Property Type Retail

Property Subtype Bar/Tavern

Zoning T2 - Traditional Neighborhood

Lot Size 0.34 Acres

APN# 35-29-23-23-0200

Corner Property Yes

PARKING & TRANSPORTATION

Street Parking Yes

Parking Type Surface

Number Of Spaces 23

Parking Description 23 Total Parking (1 Handicapped)

UTILITIES & AMENITIES

Central HVAC 2 on Roof

Restrooms 3

Gas / Propane Natural Gas

Exterior Description Wood, Stucco

Interior Description Wood

Utilities Description Boiler, 2 Water Heaters, Ample Electrical


PROPERTY DETAILS

ZONING INFORMATION

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T-2 TRADITIONAL NEIGHBORHOODTraditional neighborhood districts are intended to foster the development and growth of compact, pedestrian-oriented urban villages. All four (4) districts areintended to encourage a compatible mix of commercial and residential uses within buildings, sites and blocks; new development in proximity to major transitstreets and corridors; and additional choices in housing.

The T2 traditional neighborhood district is designed for use in existing or potential pedestrian and transit nodes. Its intent is to foster and support compact,pedestrian-oriented commercial and residential development that, in turn, can support and increase transit usage. It encourages, but does not require, a variety ofuses and housing types, with careful attention to the amount and placement of parking and transitions to adjacent residential neighborhoods.

Permitted Uses: One family dwelling, Two family dwelling, Townhouse, Housing for the elderly, Home occupation, Live-work unit, Mixed residential & commercial use, Foster home,Supportive housing facility, Adult care home, Dormitory, Fraternity or sorority, Daycare, School grades k-12, College/University/Semindary, etc, Trade school/Arts School/DanceSchool, Club/Fraternal Organization/Lodge-Hall, Museum, Public library, Public and private park (playground), Recreation (noncommercial), Church/Chapel/Synagogue/Place ofworship, Rectory/parsonage, Convent/Monastery/Religious retreat, Municipal building or use, Office: Administrative office, Artist/Photography Studio, Insurance/Real Estate/Sales,Professional Office, Clinic (medical or dental), Medical laboratory, Veterinary clinic, General retail: Bank/Credit Union, Business sales & services, Dry cleaning/commercial laundry,Foodshelf, Garden Center (outdoor), Laundromat, Massage center, Mortuary/Funeral home, Post office, Service business, Small appliance repair, Tattoo shop, Brew on premise store,Catering, Restaurant (outdoor), Bed & Breakfast, Hotel, Health/Sports club, Accessory use, Dwelling unit (accessory).

For more information please visit the City of St. Paul website:https://library.municode.com/mn/st._paul/codes/code_of_ordinances?nodeId=PTIILECO_TITVIIIZOCO_CH66ZOCOONDIUSDEDIST_ARTIII66.300.TRNEDI


ZONING INFORMATON

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FLOOR PLANS

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S E C T I O N 2 / P A G E 1 0981 UNIVERSITY AVE WST. PAUL, MN 55104

FLOOR PLAN - MAIN

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FLOOR PLAN - BASEMENT

PROPERTY PHOTOS

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PHOTOS

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PHOTOS

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PHOTOS

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ADDITIONAL PHOTOS

LOCATION INFORMATION

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RETAILER MAP

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LOCATION MAPS

ABOUT THE CITY OF ST. PAUL

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CITY OF ST. PAUL

Whether you're looking for hockey, history or hops, you’ll find them all in SaintPaul. A blue collar city built on the bluffs of America’s greatest river - theMississippi. We are North America’s most romantic getaway, the top-ranked parksystem and the best local food scene. Saint Paul is known as the “Cityof Neighborhoods,” each offering a celebration of the city’s long-cherished heritageand diversity. Life in these vibrant neighborhood districts flows deep with tradition,with many of the 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 and whiskeyrunners is well known. Saint Paul celebrates this storied past by offering tours ofsites where the gangsters once lived as they planned and executed the mostnotorious crimes perpetrated in the upper Midwest. Gangster tours highlight thesites of nightclubs, kidnappings and gun battles associated with the lawlessness ofthe 1930’s.

As the arts and culture capital of the Midwest, Saint Paul boasts more than 52,000theater seats, three world-class museums, legendary historic sites and a vibrant artsand entertainment community. The Ordway Center for the Performing Arts, locatedin downtown Saint Paul, is recognized as one of the nation’s leading not-for-profitperforming arts centers, with nearly 500 performances annually, including severalBroadway hits. Ordway is also home to the Minnesota Opera and Saint PaulChamber Orchestra. Fans of Minnesota Public Radio can look on as Garrison Keillorbroadcasts “A Prairie Home Companion” live from the Fitzgerald Theater, namedafter the famous Minnesota author, F. Scott Fitzgerald.

City of St. Paul: https://www.stpaul.gov/Midway Chamber of Commerce: http://www.midwaychamber.com/

S E C T I O N 5 / P A G E 2 1

CITY OF ST. PAUL

DEMOGRAPHICS

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POPULATION 0.5 MILES 1 MILE 1.5 MILES

Total population 7,219 24,428 50,867

Median age 28.9 29.9 31.0

Median age (Male) 27.7 28.7 29.6

Median age (Female) 29.8 31.2 33.1

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES

Total households 2,453 9,373 20,972

# of persons per HH 2.9 2.6 2.4

Average HH income $41,573 $53,237 $62,855

Average house value $185,617 $258,058 $294,677

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP & REPORT

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FOR SALE 981 UNIVERSITY AVE ST. PAUL, MN 55105 · Saint Paul’s history as Prohibition-era hotbed...

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