Single-Level Office
510 3rd St N, Waite Park, MN 56387
For Sale
Contact for pricing
Single-level office suite with central air, conference room, and dedicated entry for an established workspace.
Property Size743 SF
Price / SF$0.77
Days on Market273
Property Features for 510 3rd St N
General Information
Standard status
Size
Taxes and HOA fees
Annual Taxes
Building Details
Stories
Listing Agency:
Weichert REALTORS Tower Properties
(218) 825-7787
Listed By:
Todd Barnett
(218) 839-4380
Source:
Exprealty
Added: Feb 13
Changed: Nov 3
Last Checked: Nov 10 at 10:21AM
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 Weichert REALTORS Tower Properties
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Investment Insights
Based on property information with market context.
This for-sale office suite totals 743 square feet and is laid out all on one level for straightforward day-to-day use. The unit includes one entry door, a conference room, and a built-in desk. Additional in-suite improvements include a gas fireplace, along with central air to support year-round comfort.
The property is located on a busy road in Waite Park, Minnesota, just down from Cross Roads Mall. This positioning can support visibility for service-oriented businesses that benefit from frequent local traffic.
For tenants or buyers looking for a compact office configuration, the combination of a dedicated entry, conference room, and central air supports both client-facing meetings and regular administrative operations. The suite also offers flexibility, as the information notes an additional 287 square feet is available.
The property is located on a busy road in Waite Park, Minnesota, just down from Cross Roads Mall. This positioning can support visibility for service-oriented businesses that benefit from frequent local traffic.
For tenants or buyers looking for a compact office configuration, the combination of a dedicated entry, conference room, and central air supports both client-facing meetings and regular administrative operations. The suite also offers flexibility, as the information notes an additional 287 square feet is available.
Key Highlights
- Single‑level office suite totaling 743 SF with a dedicated entry door
- Includes a conference room and a built‑in desk
- Gas fireplace and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,566
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,320
$171.3K
Cap Rate 7%
$122,371
$122.4K
Cap Rate 9%
$95,178
$95.2K
Market Conditions
NOI Build-Up for 743 SF
Gross rent
$11.9K $16.08/SF
− Vacancy
−$526 −$0.71/SF
EGI
$11.4K $15.37/SF
− OpEx
−$2.9K −$3.84/SF
NOI
$8.6K $11.53/SF
Area
Stearns County, MN
Vacancy
4.40%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,320
Cap Rate 7%
$122,371
Cap Rate 9%
$95,178
Alternative Uses
Best Use
Office B
$122.4K
$107.1K – $142.8K
NOI $8,566 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$162.7K
$142.4K – $189.8K
NOI $11,388 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
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Business Placement
Demographics for 56387, MN
7,715
Population
3,460
Households
2.2
Avg Household Size
35
Median Age
19%
College-Educated
87%
High-School Grad
8.9 sq mi
ZIP Area
867
Density / Sq Mi
$57,387
Median Household Income
$36,511
Median Earnings
$1,072
Median Rent
$230,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Stearns County, MN
Properties on Market for Office Units in Stearns County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Single-level office suite with central air, conference room, and dedicated entry for an established workspace.
Where is this office unit located?
The property is located at 510 3rd St N Waite Park, MN.
What are key features of this property?
This property features: Single‑level office suite totaling 743 SF with a dedicated entry door; Includes a conference room and a built‑in desk; Gas fireplace and central air
