Single-Tenant Retail
For Sale
Contact for pricing
4114 W Division St, Saint Cloud, MN 56301
Newly constructed La-Z-Boy store is well located on Division Street with 10 years remaining on the primary lease term.
Property Size18,200 SF
Price / SF$318.52
Days on Market152
Property Features for 4114 W Division St
General Information
Standard status
Active
Size
18,200 SF
Property subtype
RETAIL
Additional Details
Traffic Count
33,000 vehicles/day
Building Details
Year Built
2024
Listing Agency:
Upland Real Estate Group, Inc
(612) 332-6600
Listed By:
Deborah Vannelli · License #20103724
(612) 376-4475
Source:
Moodyscre
Added: Apr 15
Changed: Sep 7
Last Checked: Sep 12 at 9:11AM
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 Upland Real Estate Group, Inc
Investment Insights
Based on property information with market context.
This for-sale retail leasehold is anchored by La-Z-Boy, constructed in 2024. The lease has 10 years remaining on the primary term, with a $2.00 per-square-foot rent increase in Year 7 and four 5-year renewal options.
The property is located on W Division St and reports 33,000 vehicles per day. It is positioned across the street from Crossroads Center, a 890,000-square-foot retail center with more than 100 retailers anchored by Macy’s, Scheels, Target, JCPenney, and DSW.
The site is described as having zero lot line with AutoZone.
The property is located on W Division St and reports 33,000 vehicles per day. It is positioned across the street from Crossroads Center, a 890,000-square-foot retail center with more than 100 retailers anchored by Macy’s, Scheels, Target, JCPenney, and DSW.
The site is described as having zero lot line with AutoZone.
Key Highlights
- La‑Z‑Boy constructed in 2024 with 10 years remaining on the primary lease term
- Lease includes a $2.00 PSF rent increase in Year 7 and four 5‑year renewal options
- Located on Division Street with 33,000 vehicles per day
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
$224,159
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
3.87%
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%
$4,483,180
$4.5M
Cap Rate 7%
$3,202,271
$3.2M
Cap Rate 9%
$2,490,656
$2.5M
Market Conditions
NOI Build-Up for 18,200 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
$345.1K $18.96/SF
− Vacancy
−$24.8K −$1.37/SF
EGI
$320.2K $17.59/SF
− OpEx
−$96.1K −$5.28/SF
NOI
$224.2K $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%
$4,483,180
Cap Rate 7%
$3,202,271
Cap Rate 9%
$2,490,656
Alternative Uses
Best Use
Retail
$3.20M
$2.80M – $3.74M
NOI $224,159 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $303,950 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
33,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
862k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 34%
Superstores 26%
Dining 21%
Shops & Services 9%
Scheels
Apparel
162,569 visits/mo
0.2 miles
Target
Superstores
139,940 visits/mo
0.2 miles
Walmart
Superstores
81,716 visits/mo
0.5 miles
Chick-fil-A
Dining
52,191 visits/mo
0.1 miles
JCPenney
Apparel
41,146 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly constructed La-Z-Boy store is well located on Division Street with 10 years remaining on the primary lease term.
Where is this retail space located?
The property is located at 4114 W Division St Saint Cloud, MN.
What is the asking price?
The asking price for this property is $5,797,037.
What are key features of this property?
This property features: La‑Z‑Boy constructed in 2024 with 10 years remaining on the primary lease term; Lease includes a $2.00 PSF rent increase in Year 7 and four 5‑year renewal options; Located on Division Street with 33,000 vehicles per day
