Building Details

Year built 2005

Roof type Metal

Listing Agency: VoigtJohnson s***@voigtjohnson.com Show Phone

Listed By: Craig Hiltner Show Phone

Added: Dec 3, 2025 Changed: Oct 8 Last Checked: Oct 12 at 5:06AM

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MLS# 6823069

Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Built in 2005, this 11,068-square-foot flex building contains 988 square feet of office area and 10,080 square feet of warehouse and storage space. The office layout has four offices, a reception area, and a restroom. Warehouse amenities include three 12-by-14-foot overhead doors, three 8-by-10-foot dock doors, two restrooms, a mechanical room, 16-foot walls, and four suspended gas heaters.

The 1.5775-acre property has paved parking and room for expansion. The building is fully occupied under a modified gross lease, with utilities paid by the tenant. Heating is forced air, cooling is central air, and the roof is metal.

Key Highlights

• 11,068 SF building on 1.5775 acres
• 988 SF of office space and 10,080 SF of warehouse/storage space
• Four offices, reception area, and restroom in the office section

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 (±1% cap)

NOI $132,926 @ 7.0% cap · market cap 12.37%

Second Best

Warehouse

$1.29M

$1.12M – $1.50M (±1% cap)

NOI $89,954 @ 7.0% cap · market cap 8.37%

Theoretical Best

Office A

$2.42M

$2.12M – $2.83M (±1% cap)

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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Current Use

Cole Papers Big Box & Wholesale Store

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Real Estate Agency Veterinary Clinic Carpet & Flooring Store Restaurant

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

Lease Details

3

Dock-high doors

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

49

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - A leased flex property combines dedicated office space with a large warehouse and on-site loading.

Where is this flex space located?

The property is located at 30701 Pearl Drive 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 on 1.5775 acres; 988 SF of office space and 10,080 SF of warehouse/storage space; Four offices, reception area, and restroom in the office section