Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Colonial Manor, a multi-tenant office building located at 1349 South Robert Street in West Saint Paul, Minnesota. This asset offers investors multiple avenues to create value. One approach could be an office value-add strategy with getting vacancies filled and converting existing gross leases to triple net. Another approach could be redeveloping the site taking advantage of the highly desirable location from a retail location perspective. Office Value-Add: The building benefits from strong visibility, attractive curb appeal, and consistent demand for small office/service suites — providing the savvy investor opportunity to unlock major upside through cosmetic updates and strategic lease-up including bringing rents up to market rate and converting them to triple net leases thus capturing CAM reimbursements for additional income. Redevelopment Opportunity: The property's highly visible location at a signalized intersection along Robert Street and traffic counts exceeding 20,000 vehicles per day, highlight the phenomenal redevelopment potential. The site's B3 General Business zoning allows investors to pursue a vast array of commercial uses. Investors could benefit from existing cash flow while planning a future redevelopment strategy.