Matt Garrison & Peter Remes Acquire Mixed-Use Asset In Saint Paul For $12.3M
SOLD
$12,300,000
Minnesota
See Similar DealsMixed-use500,000 SF
Sold 11/13/2025
SOLD
Matt Garrison & Peter Remes Acquire Mixed-Use Asset In Saint Paul For $12.3M
755 North Prior Avenue
See Similar DealsMixed-use500,000 SF
Sold 11/13/2025
Summary
MINNESOTA
Asset Type:Mixed-use
Price Per Square Foot:$24
Total Square Footage:500,000 SF
Transaction Type:Sale
A mixed-use property located at 755 North Prior Avenue in Saint Paul, MN, has been sold for a transaction price of $12,300,000. The asset spans a total square footage of 500,000, bringing the price per square foot to $24.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,300,000
- Address: 755 North Prior Avenue
- Market: Saint Paul, MN
- Square Footage: 500,000
- Price per Square Foot: $24
- Buyer: Matt Garrison & Peter Remes - First & First; R2 Companies
- Seller: Orton Development
- Date of Transaction: 11/13/2025
The deal was represented by Matt Garrison and Peter Remes, who are affiliated with First & First and R2 Companies, while the seller, Orton Development, completed the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$655,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,699.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,308.28
Annual Debt Service$699,699.30
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