Flex Industrial Building with Loading
New
For Sale
$1,075,000
30701 Pearl Dr, Saint Joseph, MN 56374
Office and warehouse areas support a range of light industrial functions, with an existing tenant under a modified gross lease.
Property Size11,068 SF
Price / SF$97.13
Days on Market3
Property Features for 30701 Pearl Dr
General Information
Standard status
Active
Size
11,068 SF
Occupancy
100%
Warehouse & Industrial
Warehouse Space
10,080 SF
Office Build-Out
988 SF
Dock-High Doors
3
Building Details
Year Built
2005
Buildings
1
Building Size
11,068 SF
Listing Agency:
VoigtJohnson
Listed By:
Craig Hiltner
(320) 250-8800
Source:
Chrisfritchteam
Added: Oct 9
Changed: Oct 10
Last Checked: Sep 9 at 11:19AM
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 VoigtJohnson
Investment Insights
Based on property information with market context.
Built in 2005, this 11,068-square-foot flex property combines 988 square feet of office space with 10,080 square feet of warehouse and storage area. The office layout has four offices, a reception area, and a restroom. The warehouse includes two restrooms, a mechanical room, four suspended gas heaters, and 16-foot-high walls.
Loading is served by three 12' x 14' overhead doors and three 8' x 10' overhead doors at the loading dock. Paved parking and room for expansion are also part of the property. The building is fully occupied under a modified gross lease, with utilities paid by the tenant.
Loading is served by three 12' x 14' overhead doors and three 8' x 10' overhead doors at the loading dock. Paved parking and room for expansion are also part of the property. The building is fully occupied under a modified gross lease, with utilities paid by the tenant.
Key Highlights
- 11,068 SF building with 988 SF of office space and 10,080 SF of warehouse and storage area
- Built in 2005; four offices and a large reception area
- Three 12' x 14' overhead doors and three 8' x 10' loading dock doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,954
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,799,080
$1.8M
Cap Rate 7%
$1,285,057
$1.3M
Cap Rate 9%
$999,489
$999.5K
Market Conditions
NOI Build-Up for 11,068 SF
Gross rent
$110.2K $9.96/SF
− Vacancy
−$4.4K −$0.40/SF
EGI
$105.8K $9.56/SF
− OpEx
−$15.9K −$1.43/SF
NOI
$90.0K $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%
$1,799,080
Cap Rate 7%
$1,285,057
Cap Rate 9%
$999,489
Alternative Uses
Best Use
Flex RnD
$1.90M
$1.66M – $2.22M
NOI $132,926 @ 7.0% cap · market cap 12.37%
Second Best
Warehouse
$1.29M
$1.12M – $1.50M
NOI $89,954 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,635 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Dock-high doors
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas support a range of light industrial functions, with an existing tenant under a modified gross lease.
Where is this flex space located?
The property is located at 30701 Pearl Dr Saint Joseph, MN.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 11,068 SF building with 988 SF of office space and 10,080 SF of warehouse and storage area; Built in 2005; four offices and a large reception area; Three 12' x 14' overhead doors and three 8' x 10' loading dock doors
