For Sale: Minneapolis MLS# 6659848
Active
$2,100,000
Commercial: Other
Built 1965
0.15 acres
Minneapolis schools
MLS# 6659848
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Property Description
This is a medical-office, single tenant, triple-net lease property - in Linden Hills.
Tenant is a dermatology group with 7 metro locations.
Tenant pays all expenses. Tenant also pays 4% management fee - $7, 500 in 2024.
Newly renovated. Award-winning build-out design by Mohagen Hansen Architects. Completed 2022.
Lease term remaining is 6-years, plus 5-year extension option. 2% annual rent increase. Tenant is
vested - paid $950, 000 on total $1.2 million bid-out.
Ideal real estate investment in Linden Hills. Net income without operating headaches.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,100,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1965
State:
MN
Property Style:
Other
Zip Code:
55410
Neighborhood/Area:
Linden Hills
Subdivision Name:
First Div Of Remington Park
Interior
Basement Details:
Full
Exterior
Garage Spaces:
0
Other Parking Spaces:
8
Air Conditioning:
Central Air, Zoned
Foundation Size:
2,200 ft2
Handicap Accessible:
Doors 36"+, Accessible Elevator Installed, Partially Wheelchair
Heating System:
- Forced Air
- Zoned
Parking Features:
- Asphalt
- Guest Parking
- Paved
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.15
Geolocation:
44.924821, -93.314112
Inclusions:
Building, Leases
Lot Dimensions:
Irregular rectangle
Zoning:
- Business/Commercial
- Other
Lot Description:
Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$56,989
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$56,989
Income
Annual Gross Income:
$120,420
Units
Total Units:
1
Miscellaneous
Current Use:
- Commercial
- Office
- Retail
Fuel System:
- Electric
- Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Keller Williams Realty Integrity Lakes.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.