Two-Story Professional Office
For Sale
Contact for pricing
122 12th Ave N, Saint Cloud, MN 56303
Two-story brick office building with modern finishes and 55 surface parking stalls.
Property Size17,624 SF
Lot Size1.07 Acres
Price / SF$133.34
Days on Market1084
Property Features for 122 12th Ave N
General Information
Standard status
Active
Size
17,624 SF
Total Parking Spaces
55
Lot size
1.07 Acres
Property subtype
OFFICE
Occupancy
53%
Building Details
Year Built
1985
Year Renovated
2018
Stories
2
Tenancy
Multi
Listing Agency:
SVN GC Real Estate
(320) 253-0003
Listed By:
Kate Hanson
(320) 420-6485
Source:
Moodyscre
Added: Sep 28, 2023
Changed: Sep 10
Last Checked: Sep 14 at 10:12AM
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 SVN GC Real Estate
Investment Insights
Based on property information with market context.
Tri-County Professional Center is a two-story professional office building totaling 17,624+/- SF on 1.07+/- acres. The property features a brick exterior, modern interior finishes, and ample on-site parking with 55 surface stalls. Originally built in 1985, the building was renovated in 2000, 2007, and 2018, and is reported to be well maintained.
The center is located in downtown St. Cloud and is described as having central access to area amenities, government offices, and major thoroughfares. The building is currently 53%+/- occupied with a long-term tenant, First American Title.
Neighboring users include US Bank, the US Post Office, St. Cloud Police Department, Stearns County Courthouse, and MidCountry Bank.
The center is located in downtown St. Cloud and is described as having central access to area amenities, government offices, and major thoroughfares. The building is currently 53%+/- occupied with a long-term tenant, First American Title.
Neighboring users include US Bank, the US Post Office, St. Cloud Police Department, Stearns County Courthouse, and MidCountry Bank.
Key Highlights
- Two‑story brick professional office building totaling 17,624+/- SF on 1.07+/- acres in downtown St. Cloud
- On‑site parking includes 55 surface stalls
- Renovated in 2000, 2007, and 2018 after original construction in 1985
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
$209,283
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
8.91%
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%
$4,185,660
$4.2M
Cap Rate 7%
$2,989,757
$3.0M
Cap Rate 9%
$2,325,367
$2.3M
Market Conditions
NOI Build-Up for 17,624 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
$387.0K $21.96/SF
− Vacancy
−$108.0K −$6.13/SF
EGI
$279.0K $15.83/SF
− OpEx
−$69.8K −$3.96/SF
NOI
$209.3K $11.87/SF
Area
Sherburne County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$4,185,660
Cap Rate 7%
$2,989,757
Cap Rate 9%
$2,325,367
Alternative Uses
Best Use
Office B
$2.99M
$2.62M – $3.49M
NOI $209,283 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.68M – $4.91M
NOI $294,330 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
53%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 56303, MN
27,305
Population
11,760
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
2,482
Density / Sq Mi
$66,789
Median Household Income
$39,167
Median Earnings
$1,001
Median Rent
$197,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story brick office building with modern finishes and 55 surface parking stalls.
Where is this office building located?
The property is located at 122 12th Ave N Saint Cloud, MN.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Two‑story brick professional office building totaling 17,624+/- SF on 1.07+/- acres in downtown St. Cloud; On‑site parking includes 55 surface stalls; Renovated in 2000, 2007, and 2018 after original construction in 1985
