3329 SE University Ave - Medical FOR SALE


Minneapolis, MN 55414- Prospect Park
$2,580,650 USD
612-332-6600
3329 SE University Ave, Minneapolis, MN for Sale
$2,580,650 USD
Medical - FOR SALE
1/2
null | 7% Cap Rate

3329 SE University Ave
Minneapolis, MN 55414
Prospect Park


HIGHLIGHTS

  • Behavioral Health Clinic operates as an outpatient opiate treatment center providing narcotic replacement therapy.
  • Lease guaranteed by Behavioral Health Group which operates 115 locations in 21 states, BHG has more than 1,900 employees.
  • The building was extensively remodeled in 2012 at a cost of $750,000, including a new lobby, elevator, 1st floor remodel & 2nd floor build out.
  • The Metro Transit light rail system passes directly in front of Alliance Clinic, and carries over 14 million passengers per year.
  • Behavioral Health Clinic is located near the University of Minnesota campus which has over 52,300 students.
  • Portfolio of 3 properties, available for portfolio or individual acquisition.

OVERVIEW

3329 University Ave SE in Minneapolis, MN is offered for sale as a net-leased investment property occupied by Behavioral Health Group (BHG), a leading provider of outpatient opioid treatment services. The property consists of an 11,270 SF building on 0.49 acres and is located near the University of Minnesota campus, benefiting from strong transit access with the Metro Transit light rail system passing directly in front. The building underwent a major renovation in 2012, including a new lobby, elevator, and full interior upgrades, at a cost of approximately $750,000. The lease is guaranteed by BHG Holdings, LLC, which operates 115 locations across 21 states and serves over 42,000 patients annually. The current NNN lease runs through December 2030 with 2.75% annual rent increases, providing stable income and a 7.00% cap rate.

FOR SALE DETAILS

PRICE

$2,580,650 USD

PRICE/SF

$229 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Behavioral Health Group Clinic

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

C1

APN/PARCEL ID

30-029-23-41-0054

ASK ABOUT THIS PROPERTY

Keith SturmUpland Real Estate Group, Inc.More Info
612-332-6600

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Keith SturmUpland Real Estate Group, Inc.More Info
612-332-6600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.