Remodeled Storefront
For Sale
Contact for pricing
32 32nd Ave S, Saint Cloud, MN 56301
Professional building with a rear shop, long-term tenants, and extensive interior and exterior improvements.
Property Size4,500 SF
Price / SF$160
Days on Market28
Property Features for 32 32nd Ave S
General Information
Standard status
Active
Size
4,500 SF
Property subtype
RETAIL
Listing Agency:
Premier Real Estate Services
(320) 259-4554
Listed By:
Noel Johnson · License #20360894
(320) 259-4554
Source:
Moodyscre
Added: Jul 15
Changed: Jul 31
Last Checked: Aug 10 at 10:08AM
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
Investment Insights
Based on property information with market context.
This storefront property includes a 4,500-square-foot professional building and a 1,200-square-foot shop situated behind it. The main building underwent an extensive interior and exterior remodel in 2013, with updates including windows, HVAC, sidewalks, a heated front walk, parking lot replacement, stucco, entry doors, and interior finishes.
The property is located one-half block off Division Street (Hwy 23) in St. Cloud, Minnesota. Several long-term tenants occupy the property, and the largest tenant has a lease through January 2035. The offering carries an 8% cap rate.
The property is located one-half block off Division Street (Hwy 23) in St. Cloud, Minnesota. Several long-term tenants occupy the property, and the largest tenant has a lease through January 2035. The offering carries an 8% cap rate.
Key Highlights
- 4,500‑square‑foot professional building plus a 1,200‑square‑foot rear shop
- Extensive interior and exterior remodel completed in 2013
- Largest tenant has a lease through January 2035
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
$55,424
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
7.70%
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%
$1,108,480
$1.1M
Cap Rate 7%
$791,771
$791.8K
Cap Rate 9%
$615,822
$615.8K
Market Conditions
NOI Build-Up for 4,500 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
$85.3K $18.96/SF
− Vacancy
−$6.1K −$1.37/SF
EGI
$79.2K $17.59/SF
− OpEx
−$23.8K −$5.28/SF
NOI
$55.4K $12.32/SF
Area
Sherburne County, MN
Vacancy
7.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,108,480
Cap Rate 7%
$791,771
Cap Rate 9%
$615,822
Alternative Uses
Best Use
Retail
$791.8K
$692.8K – $923.7K
NOI $55,424 @ 7.0% cap · market cap 7.70%
Second Best
Office B
$763.4K
$668.0K – $890.6K
NOI $53,437 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.07M
$939.4K – $1.25M
NOI $75,152 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Professional building with a rear shop, long-term tenants, and extensive interior and exterior improvements.
Where is this storefront property 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: 4,500‑square‑foot professional building plus a 1,200‑square‑foot rear shop; Extensive interior and exterior remodel completed in 2013; Largest tenant has a lease through January 2035
