Maine Prairie - For Sale
Location:Address: 3601 18th street
Town/Suburb/City: St. Cloud
Postal code/ZIP: 56301
Details:Asking Price: $4,200,000.00
Square Footage: 33,080
Phone Number: 320-333-2692
Phone Number: (320) 492-1880
Maine Prairie Business Center is a 33,080 square foot multi-tenant office property fully leased and stabilized. Many of the leases are long term with all tenants being high quality good credit tenants. All office suites are finished to a high level with excellent materials and mechanical systems.
The building was constructed in 2004 using low maintenance exterior materials including decorative brick facade, stucco and painted prefabricated metal exterior panels. Rental suites are separately metered and have roof top HVAC systems. The building is completely sprinkled and currently meets all ADA requirements.
There is approximately 2.73 acres of land area professionally landscaped and maintained. There are over 100 parking stalls with potential for more striped parking areas to the rear of the building. Maine Prairie is centrally located in St Cloud with easy access to Highway 15, Interstate 94 and all points within the city of St. Cloud and Waite Park.
The annual net operating income (NOI) is $388,500 and the listed price of the property is $4,200,000. Please contact Mike Bobick or Jim Pflepsen for more information.
Main Prairie has enjoyed excellent occupancy and has been easily owner managed since built. The property has always been an excellent value to prospective tenants and has always attracted tenants looking for quality space at base rents well below competing property. The common area operating costs at Main Prairie are also well below competing buildings which helps to keep the building occupied with high quality tenants.
- 2.73 acre site, 33,080 SF office building
- Multiple long term quality leases
- Excellent tenant mix
- Excellent rental history
- 100% occupied stabilized investment
- Approximately 65% of space has been fully remodeled in last three years