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Courtyard

Courtyard

26429 2nd St E  /

Courtyard

Property Details

Price:
Property Type Multifamily
Total Lot Size: 10.69
Number of Units: 158
County: Sherburne

Description

Michel Commercial is pleased to present The Courtyard, a 158-home community in Zimmerman, Minnesota, located in rapidly growing Sherburne County. Delivered in 2021 and 2024, The Courtyard offers investors the opportunity to acquire a newly constructed asset in a supply-constrained submarket positioned for continued rent growth, supported by strong renter demand and sustained population expansion in both Zimmerman and the surrounding county. No new multifamily supply is currently planned in Zimmerman, positioning The Courtyard to benefit from sustained renter demand as Sherburne County’s rapid population growth continues to outpace apartment development. With most new housing still concentrated in single- family construction, this lack of incoming competition supports strong occupancy and continued rent growth potential.

Location

Positioned in Zimmerman, the Courtyard offers convenient access to key regional transportation corridors including U.S. Highway 169 and nearby Highway 10, providing efficient connectivity to Elk River, St. Cloud, and the northwest Twin Cities metro. The property benefits from strong regional demand drivers supported by a diverse employment base across Central Minnesota along with proximity to larger employment centers, further enhance the property’s accessibility and long-term appeal.

Highlights

Proven Rent Strength With Additional Upside
The Courtyard is achieving some of the strongest rents in the submarket, while still offering meaningful income growth potential. Current average rents are 6% below the highest rents already achieved for each unit type, creating clear upside as leases renew. Additional income can also be generated by recovering gas, water/sewer, and trash costs through resident chargebacks.

Amenity-Rich Community
Situated on an expansive 10.69 acre site, The Courtyard offers an amenity-rich living environment with ample green space and thoughtfully designed resident amenities, including in-unit laundry and tuck under and detached garage parking, that enhance everyday convenience. This spacious setting appeals to renters seeking comfort, lifestyle, and community, supporting strong occupancy and retention.

Enhancing Connectivity
Courtyard Apartments benefits from a major infrastructure upgrade at Highway 169 and County Road 4, replacing a signalized intersection with a grade-separated interchange. This improvement enhances traffic flow, reduces congestion, and strengthens connectivity to key employment centers, further positioning Zimmerman as a growing and accessible commuter market.

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