Roosevelt Office Park

Presented By:Mike Bobick

Broker, CCIM320.257.3722

Jim Pflepsen,

Broker320.257.3736

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.com

Offer Price $2,200,000

Table of Contents

Table of Contents 1

Property Description 2

Interior Photos 3

Exterior Photos 4

Aerial 5-6

Tenant Profiles 7

Floor Plans 8

Demographics 9

Rent Roll 10

Financial 11

1

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

2

Property Description

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

Roosevelt Office Park is strategically located adjacent to numerous new office buildings just southwest of 25th Avenue and 2nd Street South, St. Cloud. Several new multilevel office buildings have recently been constructed in the immediate neighborhood and all are fully occupied. The Roosevelt Office Building is a landmark property with excellent potential for increased rents over time.

The property common areas were remodeled in 2015 and many of the private suites have been extensively remodeled over the last several years. Easy access is provided to the sec-ond floor by open staircases on each end of the building plus a centrally located elevator.

The property is currently owner managed. Many of the tenants have occupied the building for 10 or more years. Roosevelt is a low risk income property because of multiple long term stable tenants, comparable to a multifamily apartment investment. The building has enjoyed high occupancy year after year. The owners have continuously maintained the property and have made any required replacements and upgrades. Owned by the same investor for over 15 years, Roosevelt Office Park represents an outstanding investment opportunity for a new owner.

Leases are primarily modified gross in nature. Verifiable operating data indicates the current net operating income (NOI) of approximately $171,000, not including potential income from one vacancy. Complete financial data and pro-forma projections are available to qualified buyers.

Terms of sale are all cash, or cash to new mortgage. The listed price of the property is $2,200,000. Please contact Mike Bobick or Jim Pflepsen for additional information.

• Landmark location in Central Business District - location, location, location

• Consistent high occupancy

• Very desirable location for small business

• Well maintained property

• Excellent “curb appeal” with good signage, landscaping and green space.

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

3

Interior Photos

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

Exterior Photos

4

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

Roosevelt Office Park

5

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

TCF Bank

Preferred Credit Office

MBFC Office

District Square II

District Square I

TruStone Financial

6

Roosevelt Office Park

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

Crossroads Center

WalmartHoliday Inn and Suites

Hig

hway

15

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

Tenant Profiles

7

Energy Service Federal CUEnergy Services Federal Credit Union is a Credit Union exclusively for Xcel Energy Employees, their family members, and contractors of Xcel Energy.

Schmitz & KetchamFamily-owned accounting firm in the St. Cloud area.

Rule 36 Limited PartnershipRule 36 first formed in 1992 and operated three group homes throughout Minnesota. Since then our company has grown, both in size and services.

Reliant TransportationReliant Transportation provides transportation to non-emergency medical transportation appointments.

Geppert Holistic HealingGeppert Holistic Healing provides Acupuncture, Chinese Herbal Medicine, Therapeutic Massage and Bodywork and Qigong for Mind, Body and Spirit.

Center for Psychological ServicesCenter for Psychological Services provides a wide variety of psychological services. All services are provided with the utmost respect for individual diversity and special needs. All therapists practice as individual entities and sole proprietors.

Serve MinnesotaServeMinnesota works with AmeriCorps members and community partners to meet critical needs throughout Minnesota. Focus is on solving tough problems in educational achievement, economic opportunity, and environmental protection.

Alzheimer’s AssociationThe Alzheimer’s Association works on a global, national and local level to enhance care and support for all those affected by Alzheimer’s and other dementias.

Brother’s Fire ProtectionBrothers Fire & Security is the Midwest’s leading provider of complete Life Safety Solutions. We design, build, install, service and inspect commercial Security, Fire Sprinkler, Fire Alarm, Fire Suppression systems as well as sell, service and inspection Fire Extinguishers and Commercial Kitchen Hood systems. We are seasoned experts located in Minnesota.

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

8

1st Floor Plans

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

2nd Floor Plans

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

9

Demographics

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

Total Population 7,428 68,173 89,893

Population < 1 Mile < 3 Miles < 5 Miles

Median Age 42 42 41Total Males 3,786 35,728 46,727Total Females 3,820 34,100 45,244

Total Households 3,112 26,820 35,038Owner 2,274 17,941 24,976

Housing < 1 Mile < 3 Miles < 5 Miles

Rent 1,447 13,334 16,405

Average Household $47,581 $46,239 $46,669Income

Income < 1 Mile < 3 Miles < 5 Miles

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

Rent Roll

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k

10

101 Energy Service $1,300.00 $15,600.00 1248 6% Federal CU

Suite Tenant Monthly Annual Square SF %Number Feet

102 Schmitz $1,894.41 $22,732.92 1790 8% & Ketcham104 Healing Hands, $400.00 $4,800.00 390 2% LLC103/105 Rule 36 Limited $1,934.54 $23,214.48 1309 6% Partnership106 Reliant $700.00 $8,400.00 736 3% Transportation107 Geppert $719.29 $8,631.48 616 3% Holistic Healing109 Center for $3,207.36 $38,488.32 2313 11% Psychological110 Hand to Heaven $600.00 $7,200.00 550 3%

2016 Scheduled Modified Gross Income $272,780

201 Alzheimer’s $1,248.00 $14,976.00 1248 6% Association111/203 Serve Minnesota $1,466.00 $17,592.00 1280 6%204 Brothers Fire $3,157.00 $37,884.00 2860 14% Protection205/206 Jennings Insurance $940.00 $11,280.00 940 4%207 Generations $636.33 $7,635.96 664 3% Community Home, Inc.208 Granite City $810.10 $9,721.20 726 3% Mortgage209 Lion Youth $600.00 $7,200.00 616 3%210 Energy Health $1,495.00 $17,940.00 1328 6% & Wellness211 Anderson Family $1,339.50 $16,074.00 1248 6% Chiropractic

58 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.comThe information contained herein has been obtained from the property owner or other sources that we deem reliable.

However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

Financial - 2016 ProjectedModifiedGross Income from Rents: $272,780All Expenses: $102,000

Net Operating Income: $170,780

Sale Price CAP Rate 7.76%(in place NOI)

1158 10th Ave S • Waite Park, MN 56387 • 320-253-0003 • www.GraniteCityProperties.com

The information contained herein has been obtained from the property owner or other sources that we deem reliable. However, neitherthe owner nor Granite City Real Estate LLC guarantees the accuracy of such information.

600 Roosevelt Rd - St. Cloud, MN 56303RooseveltO f f i c e Pa r k