For Sale: Desirable Retail and/or Office Building on Grand Avenue

740 Grand Avenue, Saint Paul, MN

$1,660,000

Price

7,927 sqft

Building Size

0.21 acres

Lot Area

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Street
Map
Overview
Building Size
7,927 sqft
Lot Area
0.21 acres
Occupancy
60%
Units
2
Year Built
1937
Description

SVN | Northco is pleased to serve as the exclusive advisor to ownership for the sale of 740-742 Grand Avenue, Saint Paul, MN, a ±7,927 square foot retail/office building prominently located on the bustling commercial corridor of Grand Avenue and Grotto Street ("Property"). The Property is currently ±60% leased (±4,200 SF) to Nothing But Hemp, dba Nothing But Canna, the largest low dose hemp supplier of THC in Minnesota, through October, 2027. The other ±40% (±2,800 SF) of the building is currently vacant and was formerly occupied by Authentic Construction; it is built out as office space that could be occupied by an owner/user or leased for additional income. This space could also be converted to a retail use, as well.

The Property is ideally located on Grand Avenue two blocks west of Dale Street and six blocks east of Lexington Parkway. Grand Avenue is the premiere commercial corridor in the City and is often referred to as "The Heart of Saint Paul", offering a mix of commercial, residential, and entertainment options. Grand Avenue is lined with beautiful historic homes, boutique shops, art galleries, bookstores, and a variety of dining establishments, including cafes, pubs, and fine dining restaurants. Grand Avenue is also home to the annual Grand Old Day festival, which is one of the largest one-day festivals in the Midwest, featuring music, food, and family-friendly activities (brought back after a several year hiatus in 2023).

The Property is adjacent to a Re/Max Results real estate office and to Grand Ole Creamery, which has been one of the city's most popular ice cream establishments for decades. It draws hundreds of people a day in the warm months, which gives the subject property great visibility. The Property is also located across Grotto Street from Walgreens, and Caribou Coffee, Punch Pizza, and Brasa Rotisserie are located on the same block (across Grand Avenue).

Highlights
  • Fantastic owner-user or investment opportunity that is available for the first time in 25 years
  • ±7,927 SF building (GBA) with ±6,727 RSF of retail/office space on the bustling commercial corridor of Grand Avenue in Saint Paul
  • ±4,200 SF is currently being rented to Nothing but Hemp (dba Nothing But Canna) with a lease through October 31, 2027. The Nothing But Hemp, LLC has 15 locations in two states, along with an online presence.
  • Great opportunity for an owner/user or rent out the other 40% (±2,800 SF) of the space for additional revenue. An investor could also lease the space to a third-party tenant.
  • Seven (7) parking spots in a lot directly behind the building
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