Building Details

Year Built 2004

Listing Agency: Orion Real Estate Advisors, Inc

Listed By: Scott M Schmitt Show Phone

Source: Tayloronken

Added: Aug 10 Changed: Oct 10 Last Checked: Oct 7 at 3:46PM

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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

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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.

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 / Yr

$109,232

Cap Rate

9.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,184,640 $2.2M

Cap Rate 7%

$1,560,457 $1.6M

Cap Rate 9%

$1,213,689 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,440 SF

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 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 (±1% cap)

NOI $161,414 @ 7.0% cap · market cap 13.51%

Second Best

Office B

$2.21M

$1.94M – $2.58M (±1% cap)

NOI $154,955 @ 7.0% cap · market cap 12.97%

Theoretical Best

Office A

$2.94M

$2.57M – $3.43M (±1% cap)

NOI $205,989 @ 7.0% cap · market cap 17.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

K&A Autobody Auto Repair Shop Pipers Inc of St ... Plumbing Service Straight and Square Distributing ... Auto Parts Store Affordable Disposal & Recycling Waste Management Facility

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Real Estate Agency Cafe & Coffee Shop Home Appliance Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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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