St. Cloud Office
For Sale
Contact for pricing
622 Roosevelt Road, Saint Cloud, MN 56301
Premier office campus in St. Cloud's business corridor.
Property Size153,195 SF
Lot Size9.20 Acres
Price / SF$134.63
Days on Market175
Property Features for 622 Roosevelt Road
General Information
Standard status
Active
Size
153,195 SF
Class
B
Total Parking Spaces
359
Lot size
9.20 Acres
Property subtype
Office
Zoning
PUD
Occupancy
94%
Net Operating Income
$1,610,667
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
SVN | GC Real Estate
(320) 420-6485
Listed By:
Kate Hanson · License #MN
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 8 at 2:39PM
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 SVN | GC Real Estate
Investment Insights
Based on property information with market context.
District Square is a premier office campus located in the heart of St. Cloud’s Second Street business corridor. The three-building campus spans 9.2 acres on Roosevelt Road, a high-visibility thoroughfare with a traffic count of 24,515 AADT (2024). The property consists of B+ professional office buildings totaling 153,195 square feet of gross building area with 107,045 square feet of net rentable area, of which 94.8% of the campus is occupied. The site is governed by a Planned Unit Development (PUD) zoning and consists of three parcels in the District Square Owners Association (CIC). The campus is supported by 359 parking stalls, including 73 underground and 286 surface stalls. District Square offers investors a stable, high-quality asset with excellent growth potential and modern infrastructure.
Key Highlights
- High occupancy rate (94.8%) indicating stable income.
- Premier office campus in St. Cloud's Second Street business corridor.
- High‑visibility location with significant traffic count (24,515 AADT).
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
$1,819,171
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
8.82%
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%
$36,383,420
$36.4M
Cap Rate 7%
$25,988,157
$26.0M
Cap Rate 9%
$20,213,011
$20.2M
Market Conditions
NOI Build-Up for 153,195 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
$3.36M $21.96/SF
− Vacancy
−$938.6K −$6.13/SF
EGI
$2.43M $15.83/SF
− OpEx
−$606.4K −$3.96/SF
NOI
$1.82M $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%
$36,383,420
Cap Rate 7%
$25,988,157
Cap Rate 9%
$20,213,011
Alternative Uses
Best Use
Office B
$25.99M
$22.74M – $30.32M
NOI $1,819,171 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$36.55M
$31.98M – $42.64M
NOI $2,558,440 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Premier office campus in St. Cloud's business corridor.
Where is this office building located?
The property is located at 622 Roosevelt Road Saint Cloud, MN.
What is the asking price?
The asking price for this property is $20,624,450.
What are key features of this property?
This property features: High occupancy rate (94.8%) indicating stable income.; Premier office campus in St. Cloud's Second Street business corridor.; High‑visibility location with significant traffic count (24,515 AADT).
