2848 2 StSt. Cloud, MN 56301
High-yield retail investment, 7.03% cap rate.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 116
Highlights
- 90% occupancy allows immediate value-add through lease-up. Conversion of gross leases to net leases upon expiration will significantly increase NOI.
- Low average rent of $20/SF (gross), desirable average suite size of 1,859 SF, high traffic location (25,000 cars/day on 2nd Street), proximity to Costco (1.7M annual visitors), strong demographics (126,000 daytime/100,000 population within 5 miles), and attractive building with new parking lot.
- St. Cloud's large student population (35,000+) and highly educated workforce (30%+ bachelor's degrees or higher).
- St. Cloud is a rapidly growing Minnesota metro area with the state's fastest-growing labor force and a burgeoning healthcare sector (18% of employment).
Property Details for 2848 2 St
- Property type
- Lifestyle centers, Power centers
- Square Feet
- 14,873 SF
- Year Built
- 2001
- Stories
- 1
- Lot Size (sq. ft)
- 47,916 SF
Location Insight
- City
- St. Cloud
- County
- Stearns
- State
- Minnesota
- Latitude
- 45.54781928
- Longitude
- -94.19303785
Nearby Similar for Sale
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