2848 2nd S St Saint Cloud, MN 56301-4594

Property Details for 2848 2nd S St

Lot size

1.10 lot acres

Property size

15,120 SF

Property type

Commercial real estate

APN

82.47791.0321

APU

82477910321

Description

This 14,873 square foot shopping center in St. Cloud, Minnesota, presents a compelling value-add opportunity. Built in 2001, the property boasts 90% occupancy and a strong NOI of $152,812, translating to a price per square foot of $146.24. Situated on a 1.1-acre lot zoned C5 - Highway Commercial District, the property enjoys a prime location on 2nd Street South, benefiting from high daily traffic counts of 25,000 vehicles. The average suite size is a desirable 1,859 square feet, with current gross leases averaging $20 per square foot, offering significant potential for NOI growth through lease conversions upon expiration. The property features a recently overlaid parking lot and benefits from its proximity to high-traffic destinations, including Costco, which attracts 1.7 million visitors annually. St. Cloud's thriving economy, fueled by a large student population (over 35,000 students in higher education) and a growing healthcare sector (18% of employment), further enhances the investment potential. With a population exceeding 100,000 within a 5-mile radius and a significant portion holding bachelor's degrees or higher, this property offers a strong tenant base and promising long-term growth prospects. The asking price is $2,175,000.

Location Insight

City

Saint Cloud

County

Stearns

State

Minnesota

Longitude

-94.1925

Latitude

45.5476

CBSA code

41060

CBSA name

ST. CLOUD, MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments