Medical Office Building with
1511 Northway Dr Saint Cloud, MN 56303
For Sale
Contact for pricing
Well maintained medical office building with two lower-level suites, including a finished, turn-key medical suite.
Property Size18,000 SF
Price / SF$166.61
Days on Market199
Property Features for 1511 Northway Dr
General Information
Standard status
Active
Size
18,000 SF
Property subtype
OFFICE
Listing Agency:
Agency North Real Estate
(320) 293-6379
Listed By:
Wendy Hendricks · License #40438191
(320) 293-6379
Source:
Moodyscre
Added: Jan 12
Changed: Jul 28
Last Checked: Jul 29 at 2:43PM
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 Agency North Real Estate
Investment Insights
Based on property information with market context.
This well maintained professional medical office building offers two lower-level suites. The first suite is approximately 1,890 square feet of unfinished storage that could be renovated for office use. The second suite is approximately 2,610 square feet and is finished and turn-key for medical use.
The property is conveniently located on Northway Drive near CentraCare/St. Cloud Hospital, Whitney Park, the YMCA, and the Whitney Senior Center, with additional medical offices and clinics in the surrounding area.
For those with expansion needs, an adjacent lot at 2030 Stearns Way is also available.
The property is conveniently located on Northway Drive near CentraCare/St. Cloud Hospital, Whitney Park, the YMCA, and the Whitney Senior Center, with additional medical offices and clinics in the surrounding area.
For those with expansion needs, an adjacent lot at 2030 Stearns Way is also available.
Key Highlights
- Well maintained professional medical office building with long‑term, stable tenants in place
- Two lower‑level suites for lease: 1,890 SF unfinished storage (could be renovated for office use)
- 1,2,610 SF finished, turn‑key medical suite for lease
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $468.7k | $26.04 |
| − Vacancy | −$32.8k | −$1.82 |
| EGI | $435.9k | $24.22 |
| − OpEx | −$174.4k | −$9.69 |
| NOI | $261.5k | $14.53 |
18,000 SF · lease $26.04/SF/yr · vacancy 7.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$3.74M
$3.27M – $4.36M
NOI $261,546 @ 7.0% cap · market cap 8.72%
Second Best
Office B
$3.05M
$2.67M – $3.56M
NOI $213,748 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$4.29M
$3.76M – $5.01M
NOI $300,610 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well maintained medical office building with two lower-level suites, including a finished, turn-key medical suite.
Where is this medical office space located?
The property is located at 1511 Northway Dr Saint Cloud, MN.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Well maintained professional medical office building with long‑term, stable tenants in place; Two lower‑level suites for lease: 1,890 SF unfinished storage (could be renovated for office use); 1,2,610 SF finished, turn‑key medical suite for lease
