Heated Flex Space with Storage
New
For Sale
$109,900
431 37th Ave N, Saint Cloud, MN 56303
Heated office and warehouse building with two additional storage sheds.
Property Size912 SF
Price / SF$120.50
Days on Market2
Property Features for 431 37th Ave N
General Information
Standard status
Active
Size
912 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1950
Buildings
3
Listing Agency:
Premier Real Estate Services
Listed By:
Douglas A. Seanger
(320) 980-5999
Source:
Searchhousesnow
Added: Sep 6
Last Checked: Sep 7 at 1:16PM
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 1950 flex property combines office, warehouse, and supplemental storage components. The main building includes a large office, a smaller office, one bathroom, and warehouse space heated by a forced-air gas furnace. Two separate storage sheds provide additional enclosed storage beyond the primary structure.
The property is located at 431 37th Ave N in Saint Cloud, with access near 3rd Street North and Highway 15. Its combination of workspace, warehouse area, heating, and detached storage supports a range of small-scale commercial storage and operating needs.
The property is located at 431 37th Ave N in Saint Cloud, with access near 3rd Street North and Highway 15. Its combination of workspace, warehouse area, heating, and detached storage supports a range of small-scale commercial storage and operating needs.
Key Highlights
- 1950‑built flex property with office and warehouse areas
- Main structure has one large office, one small office, and a bathroom
- Forced‑air gas furnace provides heat for the main building
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
$9,908
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
9.02%
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%
$198,160
$198.2K
Cap Rate 7%
$141,543
$141.5K
Cap Rate 9%
$110,089
$110.1K
Market Conditions
NOI Build-Up for 912 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
$14.8K $16.20/SF
− Vacancy
−$621 −$0.68/SF
EGI
$14.2K $15.52/SF
− OpEx
−$4.2K −$4.66/SF
NOI
$9.9K $10.86/SF
Area
Sherburne County, MN
Vacancy
4.20%
Lease Rate
$16.20 /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%
$198,160
Cap Rate 7%
$141,543
Cap Rate 9%
$110,089
Alternative Uses
Best Use
Flex RnD
$176.7K
$154.6K – $206.1K
NOI $12,367 @ 7.0% cap · market cap 11.25%
Second Best
Warehouse
$171.9K
$150.4K – $200.5K
NOI $12,031 @ 7.0% cap · market cap 10.95%
Theoretical Best
Office A
$217.6K
$190.4K – $253.9K
NOI $15,231 @ 7.0% cap · market cap 13.86%
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
1,062
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Heated office and warehouse building with two additional storage sheds.
Where is this flex space located?
The property is located at 431 37th Ave N Saint Cloud, MN.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: 1950‑built flex property with office and warehouse areas; Main structure has one large office, one small office, and a bathroom; Forced‑air gas furnace provides heat for the main building
