Mixed-Use Property For SaleRestaurant / Retail / Multi-Family

360 University Ave W University Avenue West Saint Paul, MN 55103

360 University Ave W University Avenue West , Saint Paul, MN, 55103
360 University Ave W University Avenue West , Saint Paul, MN, 55103 360 University Ave W University Avenue West , Saint Paul, MN, 55103 360 University Ave W University Avenue West , Saint Paul, MN, 55103 360 University Ave W University Avenue West , Saint Paul, MN, 55103
FOR SALE
Property Type:
Mixed Use
Amount:
$2,600,000
Cap Rate:
0.00%
Last Verified:
Jul 08, 2024

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Mixed-Use Property For Sale | Restaurant / Retail / Multi-Family For Sale: • Building: 15,690 sf • Residential Units: 8-2BR/1Ba apartment homes (772 sf to 774 sf) • 2024 Tax: $64,242 • Sale Price: $2,600,000 Highlights and Features: • 100% Occupied • Year Built: 2016 • Zoning: T2 Traditional Neighborhood • Located in the Summit-University neighborhood at the corner of University Avenue and Virginia Street • Across from the Western Avenue Green Line Light Rail Station with connections to downtown St. Paul, the Minneapolis Central Business District and the University of Minnesota • Minutes from shopping, dining and entertainment • Controlled access • Smoke free community • High speed internet • Off street parking available with adjacent property • Apartment units are furnished with washer/dryers, refrigerator, microwave, dishwasher, and air conditioning • Walk Score: 86 (Very walkable) • Bike Score: 70 (Very bikeable) • Nearby parks: Western Park, Central Village Park and Scheffer Playground • Co-tenants: Adult Day Services LLC Rondo, Higher Standards, Inc., Aurora St. Anthony NDC, So Mala Café and Grill • Area tenants: AMC Rosedale 14, Grandview Theatre, Mann Theatres, Jerome Hill Theater, Judah and the Lion, History Theater, InterContinental Saint Paul Riverfront, Cafe Latte, The Nook, The Happy Gnome, and more Demographics: • Average Household Income: 1 mile - $39,473, 3 miles - $54,772, and 5 miles - $61,594 • Average Household Population: 1 mile - 14,366, 3 miles - 99,578, and 247,681 Traffic Counts: • University Avenue W: 10,700 vpd • Western Avenue N: 5,884 vpd • I-94: 127,488 vpd

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Map of 360 University Ave W University Avenue West , Saint Paul, MN, 55103

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.