Merchants Bank Acquires Dacotah Building In Saint Paul For $1.85 Million From John Rupp
366 Selby Avenue
$1,850,000
$39/SF
Building Size
46,324 SF
Asset Type
Retail
Closing
Sep 1, 2026
About this deal
AI
The property asset involved in the transaction is a retail space located at 366 Selby Avenue in Saint Paul, MN. The asset was sold for a total of $1,850,000, covering an area of 46,324 square feet. The property is currently 77% occupied, with W.A. Frost & Co. identified as its largest tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,850,000
- Sale Date: 09/01/2026
- Buyer: Merchants Bank
- Seller: John Rupp - DACBLD LLC
- Price per Square Foot: $40
Merchants Bank acquired the property through a foreclosure sale after claiming that the previous owner defaulted on a $2.2 million commercial real estate loan. The seller, John Rupp, has indicated plans to redeem the property through refinancing, which is expected to close in September 2026.
On the Map
$1,850,000
$39/SF
Retail
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Players
Hollywood Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93