Sponsor: Property Management & Public Works
Title
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Sale of Vacant Lot to Capital Real Estate Inc.
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Recommendation
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1. Approve the sale of and purchase agreement with Capital Real Estate, Inc., 7650 Edinborough Way, Suite 200, Edina, MN 55435, for the disposition of Parcel #363023410006, in the amount of $57,510.
2. Authorize the County Manager to approve and execute settlements, closing documents, and other related real estate documentation associated with the disposition of Parcel #363023410006, in a form approved by the Ramsey County Attorney’s Office.
3. Authorize the County Manager to execute amendments that do not have a financial impact on the disposition of Parcel #363023410006.
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Background and Rationale
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Ramsey County owns the vacant .18-acre lot at 3329 Rice Street in Shoreview, which is currently maintained by Public Works. It is too small for any present or future county use.
The adjacent property owner has expressed interest in purchasing the lot to enhance community growth by improving site visibility and updating signage for the local fast-food restaurant.
In coordination with the Ramsey County Attorney’s Office and Property Management, Public Works recommends selling the parcel as-is at a fair market-negotiated price.
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County Goals (Check those advanced by Action)
☒ Well-being ☒ Prosperity ☒ Opportunity ☒ Accountability
Racial Equity Impact
The sale of this vacant parcel creates an opportunity to promote racial equity and inclusive economic growth. Future development can help revitalize a once-disinvested area, attracting diverse businesses and residents while expanding access to opportunity. This effort supports a more welcoming, vibrant, and connected neighborhood for all.
Community Participation Level and Impact
There is no community participation associated with this action.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The sale will result in $57,510 in net revenue to Public Works when the transaction is completed in 2026. The net revenue is not included in the proposed 2026 operating budget of Public Works.
Last Previous Action
On October 14, 2025, in a closed meeting, the Ramsey County Board of Commissioners directed the County Manager to execute the purchase agreement in advance of requesting formal board approval of the vacant lot sale (Resolution B2024-194).
Attachments
1. Purchase Agreement