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 1. For Sale
 2. Retail
 3. MN
 4. Maplewood
 5. $7.0M NOI I Super Regional Value Add Opportunity
    


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Gallery 16




$7.0M NOI I SUPER REGIONAL VALUE ADD OPPORTUNITY

14% CAP Rate I St Paul MN Twin Cities MSA
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Submit LOI


LISTING CONTACTS

 * BH
   Ben Hamd Pro
   
   License: VA 02260227558
   Phone Number:  Sign Up  or  Log In  to see phone number
   View my profile
 * WW
   Wyatt Woeltje
   License: TN 341355
   Phone Number:  Sign Up  or  Log In  to see phone number
   View my profile
   


ACTIVE

Asking Price: $48,510,914
Earnest Money  Deposit: 10% min.
Learn more
Property
Due Diligence


Address 


3001 WHITE BEAR AVE, ST PAUL, MN 55109

Show on Map
Date Added
Nov 30, 2022
Days on Market
33 days
Time Since Last Update
21 days


DETAILS

Property TypeRetail
SubtypeRestaurant, Shopping Center
Investment TypeValue Add
Investment Sub TypeSuper Regional Power Center
ClassA
Lease TypeNNN
Tenant CreditCredit Rated, Corporate Guarantee, Franchisee
TenancyMulti
Brand/TenantKohl's, Macy's, Foot Locker, JCPenney, Panda Express, Barnes and
Nobles, Bath and Body Works, Victoria's Secret, H&M, VisionWorks, Kid's Foot
Locker, Champs, Lids, FYE, Charlotte Russe, Hot Topic, Spencer's, Shoe Dept,
Rue21, Journey's, Buckle, Maurice's, LensCrafters, Charley's Cheesesteaks,
Claire's
Number of Tenants150
Remaining Term10 years
Square Footage321,217
Net Rentable (sq ft)321,217
Price/Sq Ft$151.02
Cap Rate14.43%
Pro-Forma Cap Rate18.61%
Occupancy72%
NOI$7,001,936
Pro-Forma NOI$9,030,000
Year Built1974
Year Renovated2018
Buildings1
Stories2
ZoningCommercial, Residential
Lot Size (acres)34.7
Parking (spaces)4,660
Rent BumpsYes
Broker Co-OpYes
APN022922230010
Lease OptionsYes
Ground LeaseNo
OwnershipFee Simple
Sale ConditionFor sale by owner


MARKETING DESCRIPTION

*Generational Asset with Value Add Development Opportunity* St Paul MN, Twin
Cities MSA



Brookwood Capital Advisors and RI Marketplace are pleased to present
this Super-Regional Mall | 50+ National Tenants | $7,001,936.84 NOI (the
"Property"), a ± 321,217 SF retail opportunity located in St. Paul, Minnesota.
The Property features a multitude of national tenants through its anchors,
majors, and inline tenants. Anchor tenants include JCPenny, Kohl's, Macy's, and
a proposed 287 apartments covering about 63% of the mall. The Property benefits
from its strategic positioning in a dense retail hub located just two blocks
south of the heavily traveled I-694 and has excellent access and visibility.

St. Paul is part of the Minneapolis-St. Paul MSA, with these cities commonly
referred to as the Twin Cities. These cities are a growing, economically diverse
region with world-class health care and education. The Twin Cities also boast a
stable, financially sound government and multiple Fortune 500 companies are
headquartered in St. Paul along with three of the largest private companies in
the U.S. in Minneapolis with no over reliance on a singular industry. The MSA is
home to six professional sports teams, the Minnesota Orchestra, and many
internationally acclaimed theaters and museum.



Going for Auction on RI Marketplace February 13-15, 2023

Pre-auction offers wanted - SUBMIT NOW


INVESTMENT HIGHLIGHTS

 * NOI: $7,001,936.84 with in-line store sales of $309 psf.

 * Super-regional mall in dense retail hub with excellent access and visibility.
   Dene trade area population of 668K + within a ten-mile radius.

 * 34.7 Acre Development Potential: 500+ proposed apartment units, 287 adjacent
   to property provide increased consumer sales traffic and greater tenant
   leasing interest.

 * 50+ national tenants including Barnes & Noble, H&M, Shoe Dept. Anchor Tenants
   include JC Penny, Kohl's and Macy's

 * Significant Value-Add through repositioning and lease-up of more than $82K SF
   and adjacent multifamily development. 


VALUATION CALCULATOR

Purchase Price
Net Operating Income
Down Payment

100
Interest Rate
Term (years)
Term is required.
Loan Amount

$--
Annual Debt Service

$--
$-- /mo
Annual Cash Flow

$--
$-- /mo

VALUATION METRICS


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DSCR

--
Cap Rate

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ROI



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Age Demographics
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Number of Employees
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The Loan Amount is your Purchase Price minus the Down Payment.
Debt Service is the cash required to pay back the principal and interest of
outstanding debt for a particular period of time.
Your Cash Flow is the Net Operating Income (NOI) minus the Debt Service.
Debt Service Coverage Ratio (DSCR) is a measure of the cash flow available to
pay current debt obligations. It is calculated by dividing the Annual Debt
Service from the NOI
Capitalization Rate (Cap Rate) is calculated by dividing a property's Net
Operating Income by the current market value or your anticipated Purchase Price.
Your Return on Investment or cash-on-cash return measures the amount of cash
flow relative to the amount of cash invested in a property investment and is
calculated by dividing the Down Payment from the Annual Cash Flow