Medical Office Building with Lower-Level
For Sale
$2,899,999
1511 Northway Dr, Saint Cloud, MN 56303
Medical office property near CentraCare/St. Cloud Hospital and multiple medical offices and clinics.
Property Size18,500 SF
Price / SF$156.76
Days on Market79
Property Features for 1511 Northway Dr
General Information
Standard status
Active
Size
18,500 SF
Building Details
Year Built
1996
Listing Agency:
Agency North Real Estate, Inc
Listed By:
Wendy Hendricks · License #40438191
(320) 293-6379
Source:
Tayloronken
Added: Jul 29
Changed: Oct 12
Last Checked: Oct 7 at 3:29PM
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, Inc
Investment Insights
Based on property information with market context.
This medical office building contains 9,250 SF and was constructed in 1996. Two suites are situated on the lower level, providing distinct space configurations within the property: one measures 1,890 SF and the other 2,610 SF.
The building is near CentraCare/St. Cloud Hospital, along with numerous additional medical offices and clinics. Its existing medical-office orientation and proximity to established healthcare facilities support continued use by medical and clinical occupants.
The building is near CentraCare/St. Cloud Hospital, along with numerous additional medical offices and clinics. Its existing medical-office orientation and proximity to established healthcare facilities support continued use by medical and clinical occupants.
Key Highlights
- 9,250 SF medical office building constructed in 1996
- Two lower‑level suites measuring 1,890 SF and 2,610 SF
- Near CentraCare/St. Cloud Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$219,685
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,393,700
$4.4M
Cap Rate 7%
$3,138,357
$3.1M
Cap Rate 9%
$2,440,944
$2.4M
Market Conditions
NOI Build-Up for 18,500 SF
Gross rent
$406.3K $21.96/SF
− Vacancy
−$113.3K −$6.13/SF
EGI
$292.9K $15.83/SF
− OpEx
−$73.2K −$3.96/SF
NOI
$219.7K $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 Rate 5%
$4,393,700
Cap Rate 7%
$3,138,357
Cap Rate 9%
$2,440,944
Alternative Uses
Best Use
Healthcare Medical
$3.84M
$3.36M – $4.48M
NOI $268,811 @ 7.0% cap · market cap 9.27%
Second Best
Office B
$3.14M
$2.75M – $3.66M
NOI $219,685 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$4.41M
$3.86M – $5.15M
NOI $308,960 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Medical office property near CentraCare/St. Cloud Hospital and multiple medical offices and clinics.
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 $2,899,999.
What are key features of this property?
This property features: 9,250 SF medical office building constructed in 1996; Two lower‑level suites measuring 1,890 SF and 2,610 SF; Near CentraCare/St. Cloud Hospital
