8% Cap Rate - Two Tenant Net Leased Office Building

CBC Orion is pleased to offer qualified investors, this attractive two tenant office building occupied by St. Cloud Hospital/Centracare Health Systems, and Stangl & Jaskowiak, Ltd. The building was doubled in size and completely renovated in 2006 and consists of stone and brick exterior, and high quality interior finishes. Total building size is just under 10,000 SF and is situated on an approximately 1 acre site. Scheduled current year schedule net operating income of $122,684, equates to a solid 8% cap rate. 

Location: 
Conveniently located on Second Street North in Sauk Rapids, just off Highway 10 interchange and 1 block east of the city of Sauk Rapids new government center. Sauk Rapids is approximately 60 miles northwest of Minneapolis and adjacent to Saint Cloud.
More details: 

Two prominent local tenants consisting of St. Cloud Hospital/Centracare Health Systems and Stangl & Jaskowiak, Ltd. occupy the building:

St Cloud Hospital/Centracare Health Systems is the largest employer in St Cloud/Central MN with over 10,000 employees. They currently operate over 18 facilities with annual revenues of over one billion. SCH/Centracare occupies approximately 29% of the building, which offices its Facilities and Maintenance staff. Tenant has been in the building since 2013 and has approximately 7 years remaining on a 10 year lease.

Stangl & Jaskowiak, Ltd. is a prominent full-service accounting and advisory firm offering specialized services in audit, tax, and management consulting. They have a professional, experienced team providing personalized tax, accounting and strategic planning for business and individuals in the heart of Central Minnesota. Established in Sauk Rapids in 1995, they now employ 10 full time accountants and 10 part time seasonal accountants.

Special Features: 
  • Solid 8% cap rate
  • Scheduled current year schedule net operating income of $122,684
  • Centracare Health Systems is the largest employer in St Cloud/Central MN with over 10,000 employees.
  • Stangl & Jaskowiak, Ltd. is a prominent accounting and financial planning firm
  • 2% annual rent increases
  • Excellent 1031 Exchange opportunity
Address: 
1428 2nd Street N, Sauk Rapids, MN 56379
County: 
Benton
Parcel #: 
190263700
Land Area: 
Approximately one acre
Size of Building: 
10,000 +/- SF
# of Units: 
Two
Tenant Mix: 
Centracare Health Systems and Stangl & Jaskowiak, CPAs
CAP Rate: 
8%
Price: 
Offered for sale at $1,533,000
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