SOLD | Multi-Tenant Building w/ Long Term Tenants

CBC Orion is pleased to offer for sale, Tri County Professional Center – this 100% occupied multi-tenant commercial building conveniently located near downtown Saint Cloud. Close proximity to Stearns County Courthouse/Court Administration Bldg., Post Office, Saint Cloud Police Department and many other prominent downtown area businesses. Saint Cloud has a population of over 68,000 with a MSA serving over 200,000. Location is approximately 60 miles northwest of the Twin Cities area.

Building amenities include high quality office finishes, ample parking at the door (55 stalls), elevator, fully sprinkled, attractive brick exterior, extensive landscaping, and much more. Excellent opportunity to acquire this stabilized high quality multi-tenant investment property with long term tenants in place. Excellent 1031 exchange replacement.

More details: 

Building consists of one – two story brick building consisting of 17,624 +/- total SF building on 1.08 acres. Three - high quality tenants occupy the building. The primary tenant, First American Title (S&P A- rating), is the largest title company in North America. First American Title (dba Tri County Abstract) has been in the building since 2006. Additionally, in 2018 the First American space underwent substantial renovations (over $260,000 invested) and renewed their lease early, showing strong commitment to the location. The other two tenants Granite Equity Partners and Anderson Center have been in the building since 2008 and 2012 respectively.

Special Features: 
  • 7.83% Cap Rate based on in place rents
  • 12+ years average tenant length of occupancy in building
  • Strong Mix of Long Term High-Profile Tenants
  • Building amenities include high quality office finishes, ample parking at the door (55 stalls), elevator, fully sprinkled, attractive brick exterior, extensive landscaping, and much more.
  • High quality brick exterior with quality tenant build outs
  • Excellent location near downtown Saint Cloud – with ample parking at the door
  • Excellent 1031 exchange opportunity
Address: 
122 12th Avenue North, Saint Cloud, MN
County: 
Stearns
Parcel #: 
82.50002.0901 & 82.50002.0903
Land Area: 
1.08 Acres
Zoning: 
Commercial
Size of Building: 
17,624 SF
Tenant Mix: 
First American Title & Insurance Company, Granite Equity Partners & Anderson Center Management & Leadership Development
Parking: 
Paved parking for 55 +/-
Real Estate Taxes: 
$41,190 (2021)
Price: 
$2,149,000 | SOLD