2848 2nd St S - Freestanding FOR SALE


Saint Cloud, MN 56301
$2,175,000 USD
952-563-6605
2848 2nd St S, Saint Cloud, MN for Sale
$2,175,000 USD
Freestanding - FOR SALE
1/8
null | 7.03% Cap Rate

2848 2nd St S
Saint Cloud, MN 56301


HIGHLIGHTS

  • Low Average Rent of $20 psf (gross)
  • Desirable average suite size of 1,859 SF
  • Within block of Costco (1.7M annual visitors)
  • Attractive Construction with new parking lot overlay
  • At 90% occupancy, the future owner can immediately add value through lease-up of the current vacancy
  • Ability to increase the NOI significantly by converting the existing leases from gross to net upon lease expirations

OVERVIEW

Presenting an exceptional opportunity in the thriving Retail Strip Center sector. This property, built in 2001, at 90% occupancy, providing immediate value and with the current gross leases, the future owner can significantly enhance the Net Operating Income (NOI) upon lease expirations, taking advantage of average gross rent of $20 psf and the attractive average suite size of 1,859 SF. Ideally situated on 2nd Street with a daily traffic count of 25,000, this asset benefits from its proximity to high-traffic destinations, potential tenant base, and a growing, educated population of over 100,000 within a 5-mile radius. With strong fundamentals, including a newly overlaid parking lot, this property offers an enticing investment with promising growth prospects.

FOR SALE DETAILS

PRICE

$2,175,000 USD

PRICE/SF

$146 USD /SF

CAP RATE

7.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heritage Market II

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

41

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

C5

APN/PARCEL ID

82.47791.0321

ASK ABOUT THIS PROPERTY

Amy SennMid-America Real Estate Corp.More Info
952-563-6605

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Amy SennMid-America Real Estate Corp.More Info
952-563-6605

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