The office at 201 85th Ave. NW in Coon Rapids has seen recent updates with major parking lot improvements and a fresh roof in 2024. (Photo: Catylist)

The Blueprint

A 9,836-square-foot Coon Rapids office building is fully leased to a technology and cybersecurity tenant with 5½ years remaining on its triple-net lease.
Shakopee‘s 100-unit Trio at Southbridge sits on nearly 5.5 acres with zoning potential for more than 200 additional units.
The 19-unit Cathedral Hill apartment building at 399 Ashland Ave. in St. Paul is listed for $1.5 million.

On the Market features a grab bag of properties from around the metro this week: a single-tenant Coon Rapids office building set up for immediate cash flow, a newer suburban apartment community with expansion potential, and a historic red-brick multifamily building in St. Paul’s exclusive Cathedral Hill neighborhood.

Coon Rapids single-tenant office

This tidy Coon Rapids office building is fully occupied by an “established technology and cybersecurity tenant” with 5½ years left to go on its triple net lease. It’s a quality tenant, according to the listing brochure from SETT Properties’ Lamar Newburn, setting a new owner up for multiple years of predictable cash flow.

“[The] business lines [are] supported by the ongoing importance of digital transformation, network infrastructure and data protection,” Newburn says.

The building has kept up with the times as well, with major parking lot improvements and a fresh roof in 2024. The parking lot and associated landscaping comprise a significant portion of the roughly 1.6-acre parcel, which Newburn says is in a “distinctive nature-oriented setting” immediately north of the 127-acre Springbrook Nature Center. Also within easy driving distance is the Northtown Mall, a major north-metro retail center.

Address: 201 85th Ave. NW, Coon Rapids

Type: Office

Square Footage: 9,836 square feet

Asking Price: $2.175 million

Seller: Link Investments, LLC (Minneapolis)

Listing Broker: Lamar Newburn, SETT Properties

Trio at Southbridge

Built in 2018, this 100-unit Shakopee apartment community has undeniable curb appeal thanks to its colorful, variable-height facade and lush landscaping.

Many of the units have oversized balconies overlooking said landscaping, plus in-home laundry, modern finishes and “a resort-style amenity package” featuring a heated outdoor pool and clubhouse, fitness center with yoga studio, entertainment lounge, conference room, gated dog park and heated underground parking, according to the listing from Michel Commercial Real Estate. The units’ finishes include granite countertops, custom cabinets and stainless steel appliances under nine-foot ceilings.

Nice as the existing community is, there’s real potential to do something more on the nearly 5.5-acre lot included in the offering, Michel says. That lot already has key infrastructure improvements needed for vertical development and is zoned for more than 200 additional units in what is expected to be an increasingly constrained multifamily submarket, according to the listing.

The shared amenities, crucially, “were designed to accommodate a larger community,” Michel says.

Address: 1331 Crossings Blvd., Shakopee

Type: Multifamily

Square Footage/Unit Count: 100 units+

Asking Price: Not disclosed

Seller: Southbridge Apartments, LLC (Waite Park)

Listing Broker: Michel Commercial Real Estate

Historic St. Paul apartments

This 19-unit Cathedral Hill apartment building is nearly 120 years older than Trio at Southbridge, with all the charm that vintage implies.

The exterior is inimitable red brick typical of late-19th century St. Paul construction, with oversized third-level dormers and intricate edging around the ground-level archways. The building has exterior porches in the front and back, plus four shared parking spaces to complement street parking on Ashland Avenue. The roof is a combination of “newer pitched asphalt roofing and flat rubber roofing,” Apartment Cash Flow broker Nathan Opatz says.

Inside, a mix of one-bedroom and studio apartments fill three levels, including an expansive upper floor with ample natural light. Dark wood banisters, ornate moldings and sturdy radiators add to the period feel.

Three of the apartments have full one-bed/one-bath layouts, with the remainder designed as studios with access to six common-area bathrooms. Other shared amenities include two coin-operated sets of laundry machines and “plenty of extra storage areas” in the basement, Opatz says.

Address: 399 Ashland Ave., St. Paul

Type: Multifamily

Square Footage/Unit Count: 19 units (10,500 square feet)

Asking Price: $1.5 million

Seller: Prendergast Rowhouse, LLC (Bloomington)

Listing Broker: Nathan Opatz, Apartment Cash Flow

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On the Market: Office and apartment investments