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Riverview Lofts

Riverview Lofts

2005 Frontage Rd N  /

Riverview Lofts

Property Details

Price:
Property Type Multifamily
Total Lot Size: 2.00 Acres
Year Built: 2023
Number of Units: 16
Garages: 9
County: Stearns

Description

Michel Commercial is pleased to present Riverview Lofts, a newly constructed 16-apartment homes located in Waite Park, Minnesota. Built in 2023, the property offers investors the opportunity to acquire a modern, low-maintenance asset within one of Central Minnesota’s strongest retail and employment corridors. Riverview Lofts features contemporary finishes, efficient floor plans, and strong appeal to today’s renter demographic. Riverview Lofts presents a compelling opportunity to acquire a stabilized, newly built multifamily asset with limited near-term capital needs. Demand for modern rental housing within the Saint Cloud market continues to remain strong, positioning the property for long-term occupancy stability and consistent rental performance.

Location

Riverview Lofts is ideally positioned near the heart of the Saint Cloud metro’s primary retail corridor. Residents enjoy immediate access to shopping, dining, entertainment, and major employers throughout Waite Park and Saint Cloud. Convenient access to Interstate 94 and Highway 15 provides seamless regional connectivity throughout Central Minnesota.

Highlights

Strong Occupancy
Riverview Lofts enjoys high resident retention supported by Waite Park’s steady demand for quality housing and a peaceful, community-oriented setting. The property appeals to long-term tenants seeking stability in a scenic town.

Connectivity to Employment and Recreation
Waite Park offers strong connectivity to employment and recreation through its location along Interstate 94 and Minnesota Highway 23. These major corridors provide convenient access to job centers throughout the St. Cloud metro area and central Minnesota, while also connecting residents to regional attractions such as Quarry Park and Nature Preserve, the Lake Wobegon Regional Trail, and numerous parks and lakes.

Supply Constrained Submarket
The Stearns County multifamily market continues to demonstrate stable fundamentals supported by limited future supply and steady renter demand. Following elevated deliveries in recent years, new construction activity is expected to moderate considerably while vacancy trends stabilize over the forecast period. This dynamic positions Riverview Lofts to benefit from continued demand for modern rental housing within a tightening Central Minnesota market environment.

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