For Auction

$3.5M NOI I 96% Occupied Power Center I Maplewood Mall 

3001 White Bear Ave N,
St. Paul, MN 55109

Asset Snapshot

Real Estate
Asset Type
Retail
Property Type
Power Center
Retail Subtype
1974
Year Built
2018
Year Renovated
2
Floor Count
1
Building Count
4,660
Parking Spots
34.70 Acres
Land Area
No
Anchor
338,419 SF
Property Size

Offering Summary

Investment Highlights

  • +/-$3.5M NOI with 96% Occupancy and 3.3M Annual Visitors I Financing Available with Lender Ready to Move Forward (See DD for Term Sheet)
  • 34.7 Acre Development Potential: 500+ Proposed Apartment Units in Parking Lot for Value Add Development in the Future 
  • 60% of the NOI from National Tenants with Recent Extensions from Panda Express, Victoria's Secret, and H&M (Top Three Tenants in Income) 
  • Strong Suburban Market with 700K People in a 10-Mile Radius and $120K in Household Income with 24% Growth from 2000 Until Now in the Market
  • On Site Marketing Team with a Focus on Family Friendly Weekend Events that Drive Significant Weekend Traffic, as well as Provide Ancillary Event Income 
  • Super Regional Mall with 150+ Tenants in Dense Capital Market of Saint Paul, MN (Twin Cities, MN), Capital of Minnesota I Financing Available (Contact Broker)
 

Offering Summary

Mid-America and RI Marketplace are pleased to present this $3.5M NOI I 96% Occupied Powercenter I Maplewood Mall (the "Property"), a ± 338,419 SF retail opportunity located in St. Paul, Minnesota (the capital of Minnesota and the birth place of enclosed malls) with over 3.3M annual visitors. Maplewood Mall is strategic positioning in a dense retail hub located just two blocks south of the heavily traveled I-694 and has excellent access and visibility. The Maplewood area has seen a 20% growth since 2000, and the Twin Cities as a whole has seen a 24% population growth in that timeframe. Multiple Fortune 500 companies are headquartered in St. Paul along with three of the largest private companies in the U.S. in Minneapolis. Average household income in the ten-mile trade area is $120K, higher than the national average, and projected to grow at 2.1% annually over the next five years. This MSA is the birthplace of enclosed malls which have long been an integral part of the Twin Cities. Financing is available on this property with a lender that has thoroughly reviewed the asset, and a sixty day close window is offered on this transaction.

34.7 acres are included in the sale, with over 500 proposed apartments in the parking lot for future value add development. The property boasts a strong occupancy of 96% with 60% of the income coming from national tenants, and a focus on experiential retail for local tenants which helps drive the strong traffic. Maplewood suburb of 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 MSA is home to six professional sports teams, the Minnesota Orchestra, and many internationally acclaimed theaters and museums. Average household income in the ten-mile trade area is $120,000, with roughly 700K people in the region,and projected to grow at 2.1% annually over the next five years. This MSA is the birthplace of enclosed malls which have long been an integral part of the Twin Cities. Financing is available on this transaction with a sixty day close window as well.

Due Diligence

Transaction Managers

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com
Eric Kim
Marketplace
(800) 915-7015ekim@realinsight.com

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Col. Frank B., Imholte
c/o Fisher Auction Company Inc.
License: 84-302

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Call For More Information

This auction has ended. Interested in additional investment opportunities?
Financing Available

Investment Sales Brokers

Emily Gadomski
Mid-America Real Estate
(630) 261-6962egadomski@midamericagrp.com
Amy Senn
Mid-America Real Estate
MN License: 20150963
(651) 983-4861asenn@midamericagrp.com
Eric Geskermann
Mid-America Real Estate
(630) 481-4045egeskermann@midamericagrp.com
Bryce Thompson
Mid-America Real Estate
MN License: 40689317
(612) 355-0751bthompson@midamericagrp.com
Joe Girardi
Mid-America Real Estate
(312) 343-3839j.girardi@midamericagrp.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.