Quarry Commons

Colliers is pleased to present for sale, Quarry Commons Apartments. Built in two phases in 1996 and 2003 in St. Cloud, MN, Quarry Commons boasts a consistent track record of high performance, maintaining an impressive 95% average occupancy rate since 2015. With limited competition, the prospects for continued growth at Quarry Commons are outstanding.

​​​​​​Outstanding Investment Opportunity

• Incredible opportunity for continued rent growth with the competitive set achieving a weighted average rent premium of $288
• Impressive historical performance and continued growth potential evidenced by a 9-year average occupancy rate of 95%, 6% average annual rent growth dating back to 2019, and a virtually nonexistent development pipeline
• 4.49% assumable financing is available allowing for exceptional cash-on-cash returns with immediate opportunities to enhance rental income by reinvesting excess cash flows
• Excellent basis play with new construction costs pushing $175,000 per unit or $233 per square foot

Perfectly Situated and Affluent West St. Cloud Location

• Exceptional location in one of the highest median home value neighborhoods in St. Cloud, which sits less than one mile from the city's expansive retail corridor
• Severe supply-demand imbalance as the city averages 389 unit deliveries per year and continues to fall short of their 700 unit annual goal
• Strong employment hub with an emphasis on healthcare, education, and government
• Minnesota has one of the lowest cost of living indexes in the country, allowing for greater rent stabilization in down markets and greater rent growth potential in up markets