$2,400,000
$2,604,088
7.8%For more information regarding the value of a property, please contact us for a free consultation.
212 10th AVE NE New Prague, MN 56071
0.96 Acres Lot
Key Details
Sold Price $2,400,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Subdivision East 19 Biway 3Rd Add
MLS Listing ID 5495812
Sold Date 10/14/20
Year Built 2000
Annual Tax Amount $43,254
Tax Year 2019
Contingent None
Lot Size 0.960 Acres
Acres 0.96
Lot Dimensions 258x213x150x107
Property Description
Incredible Medical NNN investment at a 7.50% cap rate with a world-class tenant. The Tenant, Mayo Clinic Health System - Southwest Minnesota Region d/b/a Mayo Clinic Health System - New Prague, has been in the building for ~8 years. Tenant currently in their second five (5) year option with additional five (5) year option to renew. The Seller, who has 50+ years in the Medical Field including Mayo Clinic specifically, strongly believes the Tenant will exercise their next 5 year option to renew (supporting insight available from Listing Brokers). The property was built out specifically for the Mayo Clinic Health System's needs in 2012. This clinic is Located in New Prague, MN, near a Mayo Clinic Hospital also located in New Prague. This 8,320 SF building is in excellent condition with ample parking, easy and convenient access and great visibility.
Location
State MN
County Scott
Zoning Business/Commercial
Interior
Heating Baseboard
Cooling Central Air
Fireplace No
Exterior
Parking Features Paved, Unassigned
Utilities Available Electric Common, Heating Common, Hot Water Common
Roof Type Other
Present Use Professional/Office, Commercial, Office, Professional Service
Building
Foundation 8320
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Wood Siding
Schools
School District New Prague Area Schools
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