Medical office and retail investment opportunity at 1301 11th Avenue South, Great Falls, MT. Boasts a strategic location in the heart of the thriving Great Falls area. Property is 100% leased, with a strong track record of 100% occupancy due to its location.
Roughly half of the property is leased by Benefis Health Systems as medical office. Benefis Health Systems is the largest nonprofit health system in north-central Montana and operator of the largest hospital in Montana. Benefis Health Systems has 5 years remaining on its lease.
The rest of the property is leased to 3 retail tenants and 1 small office space. Tenants pay interior expenses, utilities (see rent roll for details). The property has had roughly $285,000 in capital investments over the last 10 years. Major improvements were done on four of the tenants’ spaces; the parking lot was resurfaced; the roof was replaced; and new common entry ways were done.
Asking price is $2.3 million. Net operating income is $210,598, yielding a cap rate of 9.2%