Single-Story Office-Retail
For Sale
Contact for pricing
3720 3rd St N, Saint Cloud, MN 56303
Flexible single-story building with ample paved parking and strong visibility along Highway 15 and 3rd Street N.
Property Size15,358 SF
Lot Size1.92 Acres
Price / SF$130.23
Days on Market23
Property Features for 3720 3rd St N
General Information
Standard status
Active
Size
15,358 SF
Lot size
1.92 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
1
Listing Agency:
RIC Property Management Inc
(612) 355-0751
Listed By:
Bryce Thompson
(612) 355-0751
Source:
Moodyscre
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 10 at 4:42AM
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 RIC Property Management Inc
Investment Insights
Based on property information with market context.
3720 3rd Street North is a 15,358± SF, single-story office/retail building on a 1.92-acre commercial site. The flexible layout is designed to accommodate a variety of retail, office, showroom, or other commercial uses, with ample paved on-site parking to support customer and employee access.
The property is located in one of St. Cloud’s established retail corridors, providing visibility and access along Highway 15 (41,388 VPD) and 3rd Street N (6,891 VPD). The site offers convenient connectivity to I-94 and nearby interchanges, and it is approximately a block from CrossRoads Center, anchored by Target, Macy’s, JCPenney, and Scheels.
Surrounded by national retailers including Walmart, The Home Depot, Menards, Best Buy, and Kohl’s, the location also benefits from a mix of restaurants and service businesses. The asset is well-suited for an owner-user, investor, or business looking to expand in a high-traffic commercial trade area.
The property is located in one of St. Cloud’s established retail corridors, providing visibility and access along Highway 15 (41,388 VPD) and 3rd Street N (6,891 VPD). The site offers convenient connectivity to I-94 and nearby interchanges, and it is approximately a block from CrossRoads Center, anchored by Target, Macy’s, JCPenney, and Scheels.
Surrounded by national retailers including Walmart, The Home Depot, Menards, Best Buy, and Kohl’s, the location also benefits from a mix of restaurants and service businesses. The asset is well-suited for an owner-user, investor, or business looking to expand in a high-traffic commercial trade area.
Key Highlights
- 15,358± SF single‑story office/retail building on a 1.92‑acre commercial site
- Excellent visibility and access along Highway 15 (41,388 VPD) and 3rd Street N (6,891 VPD)
- Flexible layout suited for retail, office, showroom, or other commercial uses
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
$182,374
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
9.12%
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%
$3,647,480
$3.6M
Cap Rate 7%
$2,605,343
$2.6M
Cap Rate 9%
$2,026,378
$2.0M
Market Conditions
NOI Build-Up for 15,358 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
$337.3K $21.96/SF
− Vacancy
−$94.1K −$6.13/SF
EGI
$243.2K $15.83/SF
− OpEx
−$60.8K −$3.96/SF
NOI
$182.4K $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%
$3,647,480
Cap Rate 7%
$2,605,343
Cap Rate 9%
$2,026,378
Alternative Uses
Best Use
Retail
$2.70M
$2.36M – $3.15M
NOI $189,156 @ 7.0% cap · market cap 9.46%
Second Best
Office B
$2.61M
$2.28M – $3.04M
NOI $182,374 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$3.66M
$3.21M – $4.27M
NOI $256,487 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 56303, MN
27,305
Population
11,760
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
2,482
Density / Sq Mi
$66,789
Median Household Income
$39,167
Median Earnings
$1,001
Median Rent
$197,900
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?
Retail space - Flexible single-story building with ample paved parking and strong visibility along Highway 15 and 3rd Street N.
Where is this retail space located?
The property is located at 3720 3rd St N Saint Cloud, MN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 15,358± SF single‑story office/retail building on a 1.92‑acre commercial site; Excellent visibility and access along Highway 15 (41,388 VPD) and 3rd Street N (6,891 VPD); Flexible layout suited for retail, office, showroom, or other commercial uses
