Commercial Kitchen
For Sale
$230,000
121 Franklin Avenue NE, Saint Cloud, MN 56304
Small restaurant premises with highway access and documented compliance with local health and safety requirements.
Property Size1,875 SF
Days on Market292
Property Features for 121 Franklin Avenue NE
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,680
Building Details
Building Size
1,875 SF
Year Built
1974
Stories
1
Units
1
Listing Agency:
A Trompeter Realty
(320) 493-5145
Listed By:
Aaron Trompeter
(320) 493-5145
Source:
Ivyrealestategroup
Added: Oct 24, 2025
Changed: Aug 11
Last Checked: Aug 10 at 10:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of A Trompeter Realty
Investment Insights
Based on property information with market context.
This commercial kitchen property includes a small restaurant space and is identified as compliant with local health and safety regulations. The existing configuration may support continued restaurant use, subject to the buyer’s operational plans and applicable requirements.
Located at 121 Franklin Avenue NE in Saint Cloud, the property offers access to Highway 10 and serves the eastern portion of Saint Cloud as well as Sauk Rapids. The building dates to 1974.
Located at 121 Franklin Avenue NE in Saint Cloud, the property offers access to Highway 10 and serves the eastern portion of Saint Cloud as well as Sauk Rapids. The building dates to 1974.
Key Highlights
- Commercial kitchen with small restaurant space
- Compliant with local health and safety regulations
- Highway 10 access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,369
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$407,380
$407.4K
Cap Rate 7%
$290,986
$291.0K
Cap Rate 9%
$226,322
$226.3K
Market Conditions
NOI Build-Up for 1,875 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.4K $16.20/SF
− Vacancy
−$1.3K −$0.68/SF
EGI
$29.1K $15.52/SF
− OpEx
−$8.7K −$4.66/SF
NOI
$20.4K $10.86/SF
Area
Sherburne County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$407,380
Cap Rate 7%
$290,986
Cap Rate 9%
$226,322
Alternative Uses
Best Use
Specialty Retail
$396.6K
$347.0K – $462.7K
NOI $27,759 @ 7.0% cap · market cap 12.07%
Second Best
Industrial
$291.0K
$254.6K – $339.5K
NOI $20,369 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 40%
Home Improvements & Furnishings 3%
Wendy's
Dining
9,347 visits/mo
0.5 miles
Speedway
Shops & Services
5,837 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
4,346 visits/mo
0.4 miles
BP
Shops & Services
2,435 visits/mo
0.5 miles
Ferguson
Home Improvements & Furnishings
680 visits/mo
0.3 miles
Demographics for 56304, MN
17,020
Population
7,538
Households
2.3
Avg Household Size
34
Median Age
25%
College-Educated
87%
High-School Grad
60.7 sq mi
ZIP Area
280
Density / Sq Mi
$54,133
Median Household Income
$36,365
Median Earnings
$926
Median Rent
$230,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Small restaurant premises with highway access and documented compliance with local health and safety requirements.
Where is this commercial kitchen located?
The property is located at 121 Franklin Avenue NE Saint Cloud, MN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Commercial kitchen with small restaurant space; Compliant with local health and safety regulations; Highway 10 access
