585 & 607 1st Street SE
Renovated Industrial Flex For Sale - 2/3 units leased - occupy & collect rent on the rest!
Marketing description
Own your building instead of renting one. This rare owner-user opportunity in Saint Cloud pairs a move-in-ready 6,340 SF space with $6,557.50/month of in-place tenant income to help carry the mortgage. Offered as a package — two adjoining parcels (PID 17.00186.00 and PID 17.01143.00) totaling 22,100 SF on 1.02 acres — 585 & 607 1st Street SE deliver a rare blend of owner-user space and day-one cash flow in a single transaction. Both PIDs must convey together.
The 585 building is fully vacant and freshly renovated 2025–2026: 6,340 SF with 16' clear height, a 14' drive-in door plus a 10' dock door, a new three-phase electrical panel, new Reznor gas heaters, new insulation, new LED lighting, a private bathroom, and 12 dedicated parking spaces. Move your business in and stop writing rent checks.
Next door, the 607 building is 100% leased to two tenants on three-year terms with built-in 7.5% annual increases generating $6,557.50/month in contractual rent. That income works for you from day one, whether you grow into the additional space later or simply let the tenants help pay down your loan.
Combined building specs: 22,100 SF across two attached structures, three-phase power on three 200-amp panels, 3 dock doors and 3 drive-in doors (ramps and doors updated 2023), a new 60-mil EPDM roof on 607 (2023) and a recoated metal roof on 585 (2023), floor drains and sprinklers in 607.
Zoned I-2 General Industrial by the City of Saint Cloud — one of the most flexible zoning designations in the market, permitting warehousing & distribution, general manufacturing, machine shop, motor vehicle sales/repair, cold storage, building materials sales, bottling & distribution, truck terminal, and more.
At $1,400,000 ($63/SF), this offering is priced below every comparable industrial sale in the St. Cloud/Sauk Rapids submarket over the past two years (comp average $76/SF, median $75/SF) — despite a completed top-to-bottom renovation and income already in place. 2026 real estate taxes are estimated at $20,546 combined.
Two parcels. One price. Sold together only. Bring your business, inherit the income, and start building equity instead of paying someone else's mortgage. Showings by appointment only. Please do not disturb tenants.
Call or email Amanda Matajira 651-260-6996 or [email protected] to setup a showing.
Investment highlights
The Opportunity
- 6,340 SF owner unit available — move in and occupy immediately
- $6,557.50/mo in tenant income already in place
- 22,100 SF total across two buildings on 1.02 acres
Income & Deal Economics
- Tenants cover ~92% of monthly P&I **illustrative only, not a lending commitment**
- Both suites leased to established businesses on 3-year terms with scheduled rent increases built in — contractual income grows from day one
- At each lease maturity, ownership holds every option: renew strong tenants, re-lease at market, or expand into the space up to the full 22,100 SF, all on your own schedule
- Priced at $63/SF — below every comparable sale in the set (comp average $76/SF, median $75/SF), despite a completed 2025–2026 renovation and income already in place
Building Specs
- 607 building: 15,760 SF, two tenants, 12 ft clear height, 1,415 SF remodeled office
- 585 building: 6,340 SF, 16 ft clear height, 14 ft drive-in door + 10 ft dock, steel construction with engineered trusses (no interior posts), vacant and ready for an owner-user
- Fully renovated 2025–2026
- 585: one dock & one drive in door | 607: two docks, two drive-ins — ramps and doors updated 2023
- Three-phase power, 3 panels at 200 amps each, new panel in owner unit
- New 60-mil single-ply EPDM roof on 607 (2023); recoated metal roof on 585 (2023)
- 16 surface parking spaces, 12 dedicated to the owner unit
Location & Infrastructure
- Walking distance to Target Saint Cloud East, directly across Highway 10
- New Caribou Coffee and Mister Car Wash — signs of an east side retail resurgence
- $43.7M Hwy 10/23 interchange rebuild (MnDOT, completed Nov 2024) — two minutes away
- Lincoln Ave SE fully reconstructed in 2025 ($5.7M city project), new water main and sewer at the property's corner
- New east side crossing bridge (2024) improves local circulation
- Every access road rebuilt within the last two years — no construction disruption ahead
- 3 minutes to downtown Saint Cloud, ~50 minutes to Twin Cities metro
- Regional labor pool of ~30,000 production and skilled trade workers
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