Luxury garages head to Sauk Rapids.
The 404 Garage Condo, which broke ground Wednesday, will feature a private luxury garage for storing large items such as cars and boats, and may also include a bathroom and living area.
The first phase of construction will include 10 units and a clubhouse, providing members of the gated community with a common area with a golf simulator, bar and multiple televisions.
Sauk Rapids Community Development Director Todd Schultz said at the Sept. 3 Planning Commission meeting that the units would be valued at $200,000 as single-family homes. Each unit will also have plumbing for a bathroom or kitchen, but no one is allowed to live there due to code regulations.
Schultz said at the meeting that condo buyers will likely come from outside the city because they can stop at the garage for storage and maintenance on the way to their lake home.
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Joe Sexton, who co-owns the property with Gary Posch, said each unit will be priced at $144 per square foot. Buyers can choose from 30-foot by 60-foot or 40-foot by 60-foot units. The garage condo also has 20-foot-tall side walls, giving tenants the option of building a mezzanine level.
While the condos may be a new concept to the area, Sexton said similar properties exist in other Minnesota communities. He said condos are intended to provide a sense of community and increase real estate value as an alternative to renting similar space.
“There’s rental space all over St. Cloud, but I think there’s value in owning it instead of renting,” he said.
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404 Garage Condos, located at 1400 19th St. NE, could be completed by the end of the year. Interested buyers can also join the waiting list on the website.
