Multi-Tenant Professional Office
For Sale
$720,000
32 32nd Ave S, Saint Cloud, MN 56301
Professional office building plus a rear shop, centrally located about a half block off Division Street.
Property Size5,940 SF
Price / SF$121.21
Days on Market96
Property Features for 32 32nd Ave S
General Information
Standard status
Active
Size
5,940 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
8%
Building Details
Year Built
1976
Year Renovated
2013
Tenancy
Multi
Listing Agency:
Premier Real Estate Services
Listed By:
Noel M. Johnson · License #20360894
(320) 980-3100
Source:
Vibemn
Added: Jul 20
Changed: Oct 13
Last Checked: Oct 7 at 3:50PM
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 Premier Real Estate Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale investment opportunity includes a 4,500-square-foot professional office building and a 1,200-square-foot shop situated behind. The property is occupied by multiple long-term tenants.
The building is centrally located about a half block off Division Street (Hwy 23). The main building underwent an extensive remodel in 2013, including upgrades such as window replacements, HVAC updates, new sidewalks and a heated front walk, parking lot replacement, stucco improvements, updated entry doors, and interior updates.
The largest tenant has a lease term through January 2035.
The building is centrally located about a half block off Division Street (Hwy 23). The main building underwent an extensive remodel in 2013, including upgrades such as window replacements, HVAC updates, new sidewalks and a heated front walk, parking lot replacement, stucco improvements, updated entry doors, and interior updates.
The largest tenant has a lease term through January 2035.
Key Highlights
- Investment property with a 4,500 SF professional building plus a 1,200 SF shop behind
- Centrally located about a half block off Division Street (Hwy 23)
- Long‑term tenant base; largest tenant lease runs through January 2035
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,852
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,040
$1.3M
Cap Rate 7%
$940,743
$940.7K
Cap Rate 9%
$731,689
$731.7K
Market Conditions
NOI Build-Up for 5,940 SF
Gross rent
$119.0K $20.04/SF
− Vacancy
−$9.3K −$1.56/SF
EGI
$109.8K $18.48/SF
− OpEx
−$43.9K −$7.39/SF
NOI
$65.9K $11.09/SF
Area
Stearns County, MN
Vacancy
7.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,040
Cap Rate 7%
$940,743
Cap Rate 9%
$731,689
Alternative Uses
Best Use
Office B
$978.3K
$856.1K – $1.14M
NOI $68,484 @ 7.0% cap · market cap 9.51%
Second Best
Healthcare Medical
$940.7K
$823.2K – $1.10M
NOI $65,852 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,040 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 56301, MN
33,786
Population
13,511
Households
2.5
Avg Household Size
30
Median Age
32%
College-Educated
91%
High-School Grad
76.6 sq mi
ZIP Area
441
Density / Sq Mi
$69,725
Median Household Income
$29,226
Median Earnings
$1,103
Median Rent
$262,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Professional office building plus a rear shop, centrally located about a half block off Division Street.
Where is this office unit located?
The property is located at 32 32nd Ave S Saint Cloud, MN.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Investment property with a 4,500 SF professional building plus a 1,200 SF shop behind; Centrally located about a half block off Division Street (Hwy 23); Long‑term tenant base; largest tenant lease runs through January 2035
