3055 3rd Street S, Waite Park, MN 56387

New Listing
$350,000
Property Type: Commercial Lot Size (sq. ft.): 20,038 Status: Active
Current Price: $350,000 List Date: 4/30/2026 Last Modified: 4/30/2026

Overview

Description

Investment opportunity in the St. Cloud metro. This Waite Park self-storage facility features 32 units across two buildings on 0.46 acres, built in 2002 with 6,900 rentable SF. The unit mix includes 10 (10x10), 6 (10x20), 8 (10x25), 6 (10x30), and 2 (10x50) units, covering a wide range of tenant needs. All units feature roll-up doors, steel construction, and concrete floors. The fully fenced property includes an electronic gate system with a control box upgraded in 2025, along with recent fence repairs and gate loop replacement ($10,250 in capital improvements completed by the seller). Currently 80.6% occupied with consistent rental income and a strong value-add profile. Rents on several unit sizes are below local market rates, creating meaningful upside through rent adjustments alone with no capital investment required. Two 10x50 units have moveable interior walls already on-site and can be split into smaller units, adding additional revenue and units. A property tax reassessment is in progress with potential savings. Low-overhead, owner-operated model with all tenants paying via credit card. Ideal for a self-managing investor looking for cash flow and upside in a growing central Minnesota market.

Listing Details MLS# 7048002

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Waterfront Present
No
Year Built
2002
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Industrial
Foundation Size
6900
For Sale or Lease
For Sale
Acres
0.46
Lot Dimensions
100x200
Assessment Pending
No
Other Parking Spaces
0
Garage Stalls
0

Property Features

Accessible: None CMU Style: Storage Unit Construction Status: Previously Owned Current Use: Storage Facility Exterior: Metal Foundation: Slab Fuel: Other Heating: None Lock Box Type: Combo On Site Utilities: Electric Common Parking Characteristics: Secured Sewer: None Water: None

Contract Information

Contingency
None
ListPrice
350000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
3055
Street Name
3rd
Street Suffix
Street
Street Direction Suffix
S
Postal City
Waite Park
County
Stearns
State
MN
Zip Code
56387
Complex/Dev/Subdivision
Sauk River Park Add

Assessments

Tax With Assessments
9758
Assessment Balance
0

Building Information

Building Finished SqFt
6900

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
28
Section#
18
Township#
124

Sale Options

Sale Includes
Building, Land, Leases

Unit Details

Total Units
32

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
LOT 009 BLK 001 SAUK RIVER PARK ADD SECTION 18 TOWNSHIP 124 RANGE 028
Listing City
Waite Park
Map Page
230
Municipality
Waite Park
School District
St. Cloud
School District Phone
320-253-9333
Zip Plus 4
2004
Property ID Number
98608240114
Tax Year
2025
Tax Amount
9758
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Investment opportunity in the St. Cloud metro. This Waite Park self-storage facility features 32 units across two buildings on 0.46 acres, built in 2002 with 6,900 rentable SF. The unit mix includes 10 (10x10), 6 (10x20), 8 (10x25), 6 (10x30), and 2 (10x50) units, covering a wide range of tenant needs. All units feature roll-up doors, steel construction, and concrete floors. The fully fenced property includes an electronic gate system with a control box upgraded in 2025, along with recent fence repairs and gate loop replacement ($10,250 in capital improvements completed by the seller). Currently 80.6% occupied with consistent rental income and a strong value-add profile. Rents on several unit sizes are below local market rates, creating meaningful upside through rent adjustments alone with no capital investment required. Two 10x50 units have moveable interior walls already on-site and can be split into smaller units, adding additional revenue and units. A property tax reassessment is in progress with potential savings. Low-overhead, owner-operated model with all tenants paying via credit card. Ideal for a self-managing investor looking for cash flow and upside in a growing central Minnesota market.
Directions
Head west on Division St (Hwy 23) through Waite Park. Turn south onto 3rd St S. Property is on the east side.

Accessible

None
Yes

Construction Status

Previously Owned
Yes

Exterior

Metal
Yes

Foundation

Slab
Yes

Fuel

Other
Yes

Heating

None
Yes

Lock Box Type

Combo
Yes

Parking Characteristics

Secured
Yes

Sewer

None
Yes

Water

None
Yes

On Site Utilities

Electric Common
Yes

CMU Style

Storage Unit
Yes

Current Use

Storage Facility
Yes
Listing Office: RE/MAX Results
IDX
Last Updated: April - 30 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.