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    605 15 St St. Cloud, MN 56301
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    Property profile & analytics

    605 15 St, St. Cloud, MN 56301

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    • Commercial real estate
    Off-Market
    Property ID
    US46-1187567
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 605 15 St

    Year built
    1987
    Property type
    Commercial real estate

    Description

    This exceptional multifamily investment opportunity presents a portfolio of 28 apartment units situated across three buildings in St. Cloud, Minnesota. Constructed between 1987 and 1988, the property is located at 605 15th St S and 1416 6th Ave S, St. Cloud, MN 56301, within Stearns County. The complex offers ample parking with 57 spaces available for residents. The asking price for this well-maintained property is $2,700,000. An attractive feature of this investment is the presence of accretive assumable debt, designed to significantly enhance cash-on-cash returns, projected to exceed 10%. This presents a compelling opportunity for investors seeking strong returns and a stable multifamily asset in a desirable location. The property's established tenancy and the potential for increased cash flow through the assumable debt make this a highly attractive investment prospect. Detailed financial information and property reports are available upon request. This is a rare chance to acquire a well-positioned multifamily property with significant upside potential. Don't miss this chance to add a high-performing asset to your portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    St. Cloud
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.1563234
    Latitude
    45.5442179

    Comparable in this City

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      Turnkey St. Cloud Apartment Building

      Well-maintained, fully occupied six-unit apartment building near SCSU.
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      $820,000
      0.33 Acres

      St. Cloud Investment Opportunity

      Turnkey apartment building with six units near SCSU attractions.
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      $1,499,000
      0.63 Acres

      Renovated Multifamily Investment Property

      Fully renovated, professionally managed 15-unit apartment complex in St. Cloud.
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    • $2,333,750
      93.35 Acres

      Prime Stearns County Land

      93 Acres, I-94 Access, Development Ready
      0 Co Rd 7, St. Cloud, MN 56301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,698 SF

      Renovated Mixed-Use Building For Sale

      Mixed-use building featuring a restaurant and loft apartments.
      801 W Germain St, Saint Cloud, MN 56301
      View Details
    • Contact for pricing

      Turnkey St. Cloud Apartment Building

      Well-maintained, fully occupied six-unit apartment building near SCSU.
      1226 9Th Ave S, Saint Cloud, MN 56301
      View Details
    • New
      $820,000
      0.33 Acres

      St. Cloud Investment Opportunity

      Turnkey apartment building with six units near SCSU attractions.
      1226 9Th Ave S, Saint Cloud, MN 56301
      View Details
    • New
      $1,499,000
      0.63 Acres

      Renovated Multifamily Investment Property

      Fully renovated, professionally managed 15-unit apartment complex in St. Cloud.
      1120 9Th Ave S, Saint Cloud, MN 56301
      View Details
    • $2,333,750
      93.35 Acres

      Prime Stearns County Land

      93 Acres, I-94 Access, Development Ready
      0 Co Rd 7, St. Cloud, MN 56301
      View Details

    Similar Nearby for Lease

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      3,257 SF

      Downtown St. Cloud Office Space

      Affordable office space in downtown St. Cloud for lease.
      810 W St Germain St, Saint Cloud, MN 56301
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    • $12 SF/Yr

      Premier Class A Office Building

      Class A office building with modern amenities in St. Cloud.
      1010 W Saint Germain St, Saint Cloud, MN 56301
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    • $16 SF/Yr

      Modern Office Space Available

      Class B+ office space in St. Cloud's business corridor.
      3051 2Nd St S, Saint Cloud, MN 56301
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      Retail Space Available

      Retail property available for rent.
      3959 2Nd St S, Saint Cloud, MN 56301
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      333 SF

      Downtown St Cloud Corner Location

      Prime corner location in downtown St Cloud with high traffic.
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      4,055 SF

      St Cloud Office Space

      Office space available for rent in St Cloud, MN.
      628 Roosevelt Rd, Saint Cloud, MN 56301
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    605 15 St
    St. Cloud, MN 56301
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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