Brick Triplex with River
For Sale
$345,000
Pending
629 5th Avenue N, Saint Cloud, MN 56303
MULTI_FAMILY - Saint Cloud, MN
Property Size1,875 SF
Lot Size0.15 Acres
Days on Market178
Property Features for 629 5th Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2
Parking features
Parking Lot, Covered, Driveway
Exterior features
Brick/Stone
Subdivision
Lowrys Add
Lot features
Tree Coverage - Light
High school district
St. Cloud
Directions
Veterans Blvd East to 6th Ave N, Turn Right, Left on 4th St N. 1 block and turn Left on 5th Ave N. 1/4 mile on the Left Side.
Standard status
Pending
APN
82482290000
Size
1,875 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3410
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Building materials
Block
Roof type
Tar/Gravel, Flat
Listing Agency:
Century 21 First Realty, Inc. · Century 21 Real Estate
(320) 252-4908
Listed By:
Mark Hoffmann · License #MN40676369
(320) 252-4908
Added: Feb 17
Changed: Aug 14
Last Checked: Aug 14 at 11:06PM
MLS# 7023300
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick triplex offers three apartments and overlooks the Mississippi River. The upper unit has one bedroom with office space, while the middle and lower units each have two bedrooms. Each apartment is separately metered, supporting individual utility tracking.
Built in 1950, the property features block construction, forced-air heating, and a flat tar/gravel roof. Parking is available with covered parking, a driveway, and a parking lot.
A new electrical panel was installed in 2024, consisting of four new 100 amp panels—three for the apartments and one for the common space—to allow metering of each individual apartment. The property sits on a 0.15-acre lot and is located close to the hospital.
Built in 1950, the property features block construction, forced-air heating, and a flat tar/gravel roof. Parking is available with covered parking, a driveway, and a parking lot.
A new electrical panel was installed in 2024, consisting of four new 100 amp panels—three for the apartments and one for the common space—to allow metering of each individual apartment. The property sits on a 0.15-acre lot and is located close to the hospital.
Key Highlights
- Three apartments with separate electric metering for each unit
- Upper 1‑bedroom with office space; middle and lower each have 2 bedrooms
- Overlooking the Mississippi River
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
$27,395
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
7.94%
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%
$547,900
$547.9K
Cap Rate 7%
$391,357
$391.4K
Cap Rate 9%
$304,389
$304.4K
Market Conditions
NOI Build-Up for 1,875 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
$41.6K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.1K $20.87/SF
− OpEx
−$11.7K −$6.26/SF
NOI
$27.4K $14.61/SF
Area
Sherburne County, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$547,900
Cap Rate 7%
$391,357
Cap Rate 9%
$304,389
Alternative Uses
Best Use
Multifamily LT 5
$391.4K
$342.4K – $456.6K
NOI $27,395 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$359.5K
$314.5K – $419.4K
NOI $25,162 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,484
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick triplex with three separately metered apartments overlooking the Mississippi River, built in 1950.
Where is this triplex located?
The property is located at 629 5th Avenue N Saint Cloud, MN.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three apartments with separate electric metering for each unit; Upper 1‑bedroom with office space; middle and lower each have 2 bedrooms; Overlooking the Mississippi River
