1004 Division St - Restaurant FOR SALE


Waite Park, MN 56387
$2,624,000 USD
320-257-5400
1004 Division St, Waite Park, MN for Sale
$2,624,000 USD
Restaurant - FOR SALE
1/10
null | 6.25% Cap Rate

1004 Division St
Waite Park, MN 56387


HIGHLIGHTS

  • 10 years remaining on Lease term
  • Value Add – lower-level vacant +/-1,750 sf
  • Landmark property in a major trac area of St. Cloud
  • Essential and thriving business model
  • China Star has been in operations for 25+ years
  • Long term tenant with excellent credit

OVERVIEW

Rice Real Estate is pleased to present this single tenant net leased property for sale in Waite Park, Minnesota. China Star Buffet has 10 years remaining on their lease along with 2 – 5 years renewal options. This Lease features a NNN structure with tenant being responsible for everything except structural replacement. Property serves as China Star Buffet , a renowned re-establishment serving the St. Cloud area with longevity, quality and reputable service since 1998. The building is situated on 0.67 acres. This property is located on the corner of controlled intersection (HWY 23/ Division Street & 10th Street.) With outstanding frontage on Division Street. With this well-positioned location, China Star Buffet has been branded one of the top restaurants in the St. Cloud area.

FOR SALE DETAILS

PRICE

$2,624,000 USD

PRICE/SF

$401 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,248 SF

ZONING

-

APN/PARCEL ID

98.61343.0000

ASK ABOUT THIS PROPERTY

Ben CopperthiteRice CompaniesMore Info
320-257-5400

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Ben CopperthiteRice CompaniesMore Info
320-257-5400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.