Four-Building Office
For Sale
Contact for pricing
340 Highway 10 S, Saint Cloud, MN 56501
Fully occupied office portfolio with three tenants and net lease structures.
Property Size32,808 SF
Price / SF$168.22
Days on Market12
Property Features for 340 Highway 10 S
General Information
Standard status
Active
Size
32,808 SF
Property subtype
Office, Special Purpose
Occupancy
100%
Lease Type
Net
Net Operating Income
$441,514
Additional Details
Highway Access
Yes
Building Details
Buildings
4
Units
4
Tenancy
Multi
Listing Agency:
CBRE Minneapolis
Listed By:
Sean Doyle · License #MN 20588764
Source:
Crexi
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 31 at 3:02PM
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 CBRE Minneapolis
Investment Insights
Based on property information with market context.
This four-building office park contains 32,808 square feet and is fully occupied by three tenants. The portfolio includes landlord-friendly net leases with 3% annual increases and reimbursement for full management costs. Lease coverage extends through 2033 for 66% of the total space.
The property is located at 340 Highway 10 S in Saint Cloud, with visibility and access along the newly reconstructed Highway 10. The office setting combines multiple buildings under one ownership structure and supports ongoing third-party management through the existing reimbursement provisions.
The property is located at 340 Highway 10 S in Saint Cloud, with visibility and access along the newly reconstructed Highway 10. The office setting combines multiple buildings under one ownership structure and supports ongoing third-party management through the existing reimbursement provisions.
Key Highlights
- Four‑building office park totaling 32,808 square feet
- 100% occupied by 3 tenants
- 66% of the space leased through 2033
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
$389,591
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
7.06%
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%
$7,791,820
$7.8M
Cap Rate 7%
$5,565,586
$5.6M
Cap Rate 9%
$4,328,789
$4.3M
Market Conditions
NOI Build-Up for 32,808 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
$720.5K $21.96/SF
− Vacancy
−$201.0K −$6.13/SF
EGI
$519.5K $15.83/SF
− OpEx
−$129.9K −$3.96/SF
NOI
$389.6K $11.87/SF
Area
Sherburne County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$7,791,820
Cap Rate 7%
$5,565,586
Cap Rate 9%
$4,328,789
Alternative Uses
Best Use
Office B
$5.57M
$4.87M – $6.49M
NOI $389,591 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.83M
$6.85M – $9.13M
NOI $547,911 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 56501, MN
17,784
Population
10,271
Households
1.7
Avg Household Size
44
Median Age
32%
College-Educated
94%
High-School Grad
186.9 sq mi
ZIP Area
95
Density / Sq Mi
$68,980
Median Household Income
$40,068
Median Earnings
$942
Median Rent
$286,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied office portfolio with three tenants and net lease structures.
Where is this office building located?
The property is located at 340 Highway 10 S Saint Cloud, MN.
What is the asking price?
The asking price for this property is $5,519,000.
What are key features of this property?
This property features: Four‑building office park totaling 32,808 square feet; 100% occupied by 3 tenants; 66% of the space leased through 2033
