Downtown Saint Joseph Retail
For Sale
Contact for pricing
14 College Ave N, Saint Joseph, MN 56374
Retail building with restaurant buildout and income-producing tenant.
Property Size2,937 SF
Price / SF$168.54
Days on Market188
Property Features for 14 College Ave N
General Information
Standard status
Active
Size
2,937 SF
Property subtype
Retail
Listing Agency:
Inventure Real Estate
(320) 309-7598
Listed By:
Jacob Cleveland · License #40793812
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 10 at 9:08AM
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 Inventure Real Estate
Investment Insights
Based on property information with market context.
Located in downtown Saint Joseph, this 2,937 square foot retail building at 14 College Ave N is available for sale. The property is divided into two suites. Suite A is currently vacant and features a turnkey restaurant buildout, including a dining area, a full commercial kitchen, and a walk-in cooler and freezer. This suite is suitable for a café, restaurant, or specialty food concept. Suite B is leased to Wandering Cow Ice Cream Shop, providing immediate cash flow. Both suites share common area restrooms. The property benefits from strong pedestrian traffic, surrounding residential density, and proximity to local businesses, the College of Saint Benedict, and Saint John’s University, which together serve approximately 6,500+ students. This property presents an owner-user opportunity in one of Central Minnesota’s active downtown districts.
Key Highlights
- Turnkey restaurant buildout in vacant Suite A, including dining area, full commercial kitchen, walk‑in cooler and freezer, ideal for owner‑occupant.
- Prime downtown Saint Joseph location at 14 College Ave N with strong pedestrian traffic and proximity to local businesses.
- Existing lease in Suite B to Wandering Cow Ice Cream Shop provides immediate cash flow and attracts foot traffic.
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
$40,700
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
8.22%
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%
$814,000
$814.0K
Cap Rate 7%
$581,429
$581.4K
Cap Rate 9%
$452,222
$452.2K
Market Conditions
NOI Build-Up for 2,937 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
$58.9K $20.04/SF
− Vacancy
−$4.6K −$1.56/SF
EGI
$54.3K $18.48/SF
− OpEx
−$13.6K −$4.62/SF
NOI
$40.7K $13.86/SF
Area
Stearns County, MN
Vacancy
7.80%
Lease Rate
$20.04 /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%
$814,000
Cap Rate 7%
$581,429
Cap Rate 9%
$452,222
Alternative Uses
Best Use
Specialty Retail
$581.4K
$508.8K – $678.3K
NOI $40,700 @ 7.0% cap · market cap 8.22%
Second Best
Retail
$562.7K
$492.3K – $656.5K
NOI $39,387 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$643.1K
$562.7K – $750.2K
NOI $45,014 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
61k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 13%
Home Improvements & Furnishings 5%
Kwik Trip
Shops & Services
32,444 visits/mo
0.2 miles
Holiday Station Store
Shops & Services
9,628 visits/mo
0.2 miles
Dollar General
Shops & Services
8,355 visits/mo
0.5 miles
Taco John's
Dining
5,084 visits/mo
0.2 miles
Lee's Ace Hardware
Home Improvements & Furnishings
3,050 visits/mo
0.2 miles
Demographics for 56374, MN
9,943
Population
3,662
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
66.4 sq mi
ZIP Area
150
Density / Sq Mi
$78,415
Median Household Income
$36,851
Median Earnings
$1,134
Median Rent
$281,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Retail building with restaurant buildout and income-producing tenant.
Where is this conventional restaurant located?
The property is located at 14 College Ave N Saint Joseph, MN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Turnkey restaurant buildout in vacant Suite A, including dining area, full commercial kitchen, walk‑in cooler and freezer, ideal for owner‑occupant.; Prime downtown Saint Joseph location at 14 College Ave N with strong pedestrian traffic and proximity to local businesses.; Existing lease in Suite B to Wandering Cow Ice Cream Shop provides immediate cash flow and attracts foot traffic.
