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Sunrise Center 16-56 14th Ave NE 14,560 SF 100% Leased Retail Building Saint Cloud, MN 56304 $2,390,000 ($164.15/SF) 8.26% Cap Rate
Investment Highlights
- VALUE-ADD
- HIGH VISIBILITY SIGNALIZED INTERSECTION
- MINIMAL NEAR TERM CAPITAL REQUIREMENTS
- INVESTMENT-GRADE ANCHOR TENANT (7-ELEVEN (Amoco))
- ENVIRONMENTAL RISK MITIGATED
Executive Summary
VALUE-ADD
Four out of the five Tenants are on modified Gross Leases (tenants cover their utilities) as their leases expire (two tenants expire in 2028, one in 2029, and one in 2030), an investor has the ability to convert these tenants to NNN lease structures and mark rents to market, providing a clear path to NOI growth.
INVESTMENT-GRADE ANCHOR TENANT
7-Eleven (Amoco): The anchor suite (Suite 1 — 5,584 SF) is occupied by an Amoco, that is operating on a sublease with 7-Eleven, the world’s largest convenience store chain, with with over 56,000 locations globally. 7-Eleven maintains an investment-grade credit rating of A- (S&P), with approximately $80.3 billion in annual revenue and $70.3 billion in total assets. The NNN lease extends through March 2036, offering long-term, stable cash flow backed by a strong corporate credit.
HIGH VISIBILITY SIGNALIZED INTERSECTION
The property benefits from direct frontage on Highway 23, one of the primary highways serving the Saint Cloud market. A recently completed major road construction project resulted in a new signalized intersection at this location (20,352 VPD), dramatically improving ingress, egress, and visibility for tenants and customers.
ENVIRONMENTAL RISK MITIGATED
Both Phase I and Phase II Environmental Reports (April 2026) identified no recognized environmental conditions (RECs) and no evidence of contamination, supporting a streamlined diligence process reducing execution risk.
MINIMAL NEAR TERM CAPITAL REQUIREMENTS
The seller has invested significantly in the Property in recent years, leaving a buyer with a well-maintained asset requiring minimal near-term capital outlay. Completed improvements include a full mill and overlay of the parking lot (2024), fresh exterior paint (2022), and newer HVAC units throughout. The property also benefits from a standing seam metal roof, one of the most durable and long-lasting roofing systems available.
Four out of the five Tenants are on modified Gross Leases (tenants cover their utilities) as their leases expire (two tenants expire in 2028, one in 2029, and one in 2030), an investor has the ability to convert these tenants to NNN lease structures and mark rents to market, providing a clear path to NOI growth.
INVESTMENT-GRADE ANCHOR TENANT
7-Eleven (Amoco): The anchor suite (Suite 1 — 5,584 SF) is occupied by an Amoco, that is operating on a sublease with 7-Eleven, the world’s largest convenience store chain, with with over 56,000 locations globally. 7-Eleven maintains an investment-grade credit rating of A- (S&P), with approximately $80.3 billion in annual revenue and $70.3 billion in total assets. The NNN lease extends through March 2036, offering long-term, stable cash flow backed by a strong corporate credit.
HIGH VISIBILITY SIGNALIZED INTERSECTION
The property benefits from direct frontage on Highway 23, one of the primary highways serving the Saint Cloud market. A recently completed major road construction project resulted in a new signalized intersection at this location (20,352 VPD), dramatically improving ingress, egress, and visibility for tenants and customers.
ENVIRONMENTAL RISK MITIGATED
Both Phase I and Phase II Environmental Reports (April 2026) identified no recognized environmental conditions (RECs) and no evidence of contamination, supporting a streamlined diligence process reducing execution risk.
MINIMAL NEAR TERM CAPITAL REQUIREMENTS
The seller has invested significantly in the Property in recent years, leaving a buyer with a well-maintained asset requiring minimal near-term capital outlay. Completed improvements include a full mill and overlay of the parking lot (2024), fresh exterior paint (2022), and newer HVAC units throughout. The property also benefits from a standing seam metal roof, one of the most durable and long-lasting roofing systems available.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
14,560 SF
Building Class
C
Year Built
1989
Price
$2,390,000
Price Per SF
$164.15
Cap Rate
8.26%
NOI
$197,334
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.24
Lot Size
1.38 AC
Opportunity Zone
Yes
Zoning
C5
Parking
60 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
215’ on 14th Ave NE
Amenities
- Pylon Sign
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17.00101.01 | Improvements Assessment | $583,000 |
| Land Assessment | $276,000 | Total Assessment | $859,000 |
Property Taxes
Parcel Number
17.00101.01
Land Assessment
$276,000
Improvements Assessment
$583,000
Total Assessment
$859,000
Contacts
-
Amy Senn -
Bryce Thompson -
Joe Girardi -
Eric Geskermann -
Mid-America Real Estate Corp.
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Sunrise Center | 16-56 14th Ave NE
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