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Station Street Apartments

Station Street Apartments

19560 Station Street  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 7.29
Year Built: 2021
Number of Units: 108
County: Sherburne

Description

Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the Station Street Apartments (“Station Street” or the “Property”), a 108-unit apartment community located in Big Lake, MN. Station Street offers open concept living spaces and a wealth of community amenities, including: a fitness room, an outdoor pool, and a play area for children. The Station Street Apartments are located in Big Lake, an exurb of the Twin Cities. The Big Lake area is known for its beautiful parks, stunning lakes, and economic development opportunities. Big Lake is home to many young families who value a closeknit community as well as easy access to big-city amenities and employment options. Station Street is a three-minute walk from the Big Lake Train Station, where commuters can ride the Northstar Line to downtown Minneapolis in under an hour. The Property is half a mile from US Highway 10 and just ten minutes from Interstate 94. Big Lake is within commuting distance of the Twin Cities making it a desirable location for residents and the Big Lake market boasts higher rents than the state average year after year. In addition, the city has added over a thousand singlefamily and multi-family rental units since 2015 to accommodate growing demand for housing. The Station Street Apartments offer a desirable mix of studio, one, and two-bedroom units and has been a welcomed addition to the Big Lake community proven by the strong lease-up velocity. Station Street is a well-built, turn-key property located in a growing, family-friendly market with competitive rental rates and access to parks, highways, and employment sectors.

Location

Big Lake is a growing community located in Sherburne County. The combined population of Big Lake Township and the city of Big Lake is 19,610—a 16% increase since 2010. The average household income is $88,569 and the median home value is $209,900. The unemployment rate is 4.7%. Big Lake is an exurb of the greater Twin Cities metropolitan area, with many residents commuting to Minneapolis and St. Paul on a daily basis. Between US Highway 10, Interstate 94, and the Northstar Commuter Line, residents have numerous options for efficient travel to the Twin Cities. Big Lake is home to many young families who enjoy the community’s small-town feel and easy access to bigcity amenities. The city features a strong school district, a full calendar of family-friendly community events, and a full-service community hospital. Additionally, Big Lake offers attractive incentives for established and prospective businesses, including existing utility infrastructure, shovel-ready commercial development sites, and financial support.

Highlights

Turn-key Investment
• Rapid lease-up
• Growing market (16% population increase since 2010)
• Amenity rich
• Rental upside with strong occupancy

Convenient Location
• Walkable to the Northstar Commuter Line station, just a 51-minute ride to downtown Minneapolis
• Half a mile to US Highway 10
• One mile to commercial hub with grocery store, hardware store, and more.
• Ten minutes to Interstate Highway 94

 

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