Flex Building with Overhead
For Sale
$1,195,000
30659 Pearl Dr, Saint Joseph, MN 56374
Well-maintained flex property combines office suites with shop and warehouse areas.
Property Size13,440 SF
Price / SF$88.91
Days on Market23
Property Features for 30659 Pearl Dr
General Information
Standard status
Active
Size
13,440 SF
Building Details
Year Built
2004
Listing Agency:
Orion Real Estate Advisors, Inc
(320) 251-1177
Listed By:
Scott M Schmitt
Source:
Homesminn
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 31 at 7:01PM
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 Orion Real Estate Advisors, Inc
Investment Insights
Based on property information with market context.
Built in 2004, this well-maintained flex property contains 13,440 square feet across office and shop/warehouse areas. The building is configured as four suites, with six 12-foot overhead doors, three-phase electrical service, in-floor drains, radiant heat, and one bathroom in each suite. The property occupies a 1.31-acre parcel and offers space for businesses needing a combination of administrative and operational areas.
The property is situated in Saint Joseph Industrial Park, with access to County Road 75, Interstate 94, and Highway 15. Two to three suites totaling up to 10,000 square feet may be combined for owner occupancy, and the property information indicates potential to add additional square footage in the future.
The property is situated in Saint Joseph Industrial Park, with access to County Road 75, Interstate 94, and Highway 15. Two to three suites totaling up to 10,000 square feet may be combined for owner occupancy, and the property information indicates potential to add additional square footage in the future.
Key Highlights
- 13,440 SF flex building on a 1.31‑acre parcel
- Four‑unit configuration with office and shop/warehouse space
- Six 12‑foot overhead doors
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
$109,232
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
9.14%
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%
$2,184,640
$2.2M
Cap Rate 7%
$1,560,457
$1.6M
Cap Rate 9%
$1,213,689
$1.2M
Market Conditions
NOI Build-Up for 13,440 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
$133.9K $9.96/SF
− Vacancy
−$5.4K −$0.40/SF
EGI
$128.5K $9.56/SF
− OpEx
−$19.3K −$1.43/SF
NOI
$109.2K $8.13/SF
Area
Stearns County, MN
Vacancy
4.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,184,640
Cap Rate 7%
$1,560,457
Cap Rate 9%
$1,213,689
Alternative Uses
Best Use
Flex RnD
$2.31M
$2.02M – $2.69M
NOI $161,414 @ 7.0% cap · market cap 13.51%
Second Best
Office B
$2.21M
$1.94M – $2.58M
NOI $154,955 @ 7.0% cap · market cap 12.97%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,989 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex property combines office suites with shop and warehouse areas.
Where is this flex space located?
The property is located at 30659 Pearl Dr Saint Joseph, MN.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 13,440 SF flex building on a 1.31‑acre parcel; Four‑unit configuration with office and shop/warehouse space; Six 12‑foot overhead doors
