1220 11th N St Sauk Rapids, MN 56379-2502
- Industrial properties
- 24,500 SF
Nov 07, 2023
Current Use by Public Records
- Caliber Collision / Auto Repair Shop / Auto Restoration Service
Property Details for 1220 11th N St
- Year built
- 1979
- Property size
- 24,500 SF
- Property type
- Industrial properties
- APN
- 19.02125.00
- APU
- 190212500
Description
This fee-simple industrial property in Sauk Rapids, Minnesota offers a compelling investment opportunity. The 24,500-square-foot warehouse is 100% occupied by Caliber Collision under a 15-year net lease (NN) commencing August 23, 2022, with 12.8 years remaining. The lease includes two 5-year renewal options, with 5% rent increases every five years during the initial term. The property boasts a strong 6.33% cap rate and a substantial net operating income (NOI) of $158,256. Located on a 1.6-acre lot at 1220 11th St N, Sauk Rapids, MN 56379, the property features 43 parking spaces and is zoned C-2: General Commercial. Built in 1979, the building has undergone over $1.5 million in tenant improvements. The property benefits from its location in a dense retail corridor near major thoroughfares and significant employers, including St. Cloud Hospital and St. Cloud Technical & Community College, serving a 5-mile trade area with over 98,000 residents and 69,000 employees. The average household income within this radius is $78,888. This is a low-management investment with a corporate guarantee from a nationally recognized brand, offering significant long-term value and stability. The asking price is $2,500,000, translating to $102.04 per square foot.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,090,000
- ML approach
- $1,940,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sauk Rapids
- County
- Benton
- State
- Minnesota
- Longitude
- -94.1572
- Latitude
- 45.6021
- CBSA code
- 41060
- CBSA name
- ST. CLOUD, MN METROPOLITAN STATISTICAL AREA
