3800 N 3rd St N | Saint Cloud, MN 56303
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- LoopNet Team
3800 N 3rd St N
Saint Cloud, MN 56303
Rise · Office Property For Sale
INVESTMENT HIGHLIGHTS
- HIGH-YIELDING INVESTMENT: The property is being offered at a Year-1 in-place cap rate of 8.00%.
- ATTRACTIVE RENTAL INCREASE: 2.00% Annual rental increases, providing investors with a hedge against inflation.
- NEW HVAC & PARKING LOT: As part of the renovations, the Tenant is responsible for replacing the HVAC units and resurfacing the parking lot.
- LONG-TERM LEASE: There are 10 Years remaining on the base term of the lease, providing stability and security for investors.
- CORPORATE GUARANTEE: Green Thumb Industries Inc currently has +8 product brands and +90 dispensaries.
- BELOW MARKET RENTS: The tenant is paying ±$13.33/SF in rent annually, significantly below market rates compared to other cannabis dispensaries.
PROPERTY FACTS
Property Type
Office
Building Size
15,000 SF
Building Class
B
Year Built/Renovated
1980/2020
Tenancy
Single
Building Height
1 Story
Typical Floor Size
15,000 SF
Building FAR
0.34
Lot Size
1.00 AC
Zoning
PUD
Parking
55 Spaces (3.45 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 82.49999.0104 | Improvements Assessment | $563,000 |
| Land Assessment | $387,000 | Total Assessment | $950,000 |
PROPERTY TAXES
Parcel Number
82.49999.0104
Land Assessment
$387,000
Improvements Assessment
$563,000
Total Assessment
$950,000
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