45 Lady Luck Dr - Health Care FOR SALE


Hinckley, MN 55037
$5,164,310 USD
918-794-9787
45 Lady Luck Dr, Hinckley, MN for Sale
$5,164,310 USD
Health Care - FOR SALE
1/5
null | 7.15% Cap Rate

45 Lady Luck Dr
Hinckley, MN 55037


HIGHLIGHTS

  • No early termination or kick-out clauses in the lease
  • Lease supported by Pine Medical Center, subsidiary of A- Fitch-rated Essentia Health
  • NN lease structure with landlord limited to structural components and roof
  • 2% annual rent escalations with a five-year renewal option
  • Direct access to Interstate 35 with 23,600 vehicles per day
  • Approximately 1.5 miles from Grand Casino Hinckley, a major regional traffic driver

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in the land and building of a single-tenant medical office facility located in Hinckley, Minnesota. The property consists of 4.87 acres improved with a 14,186-square-foot, single-story medical office building constructed in 2015 and operating as the Essentia Health – Hinckley Clinic since February 2024. The clinic provides family medicine, primary care, specialty services including podiatry, and urgent care, with future expansion capabilities such as imaging and rehabilitation. The site is located along Lady Luck Drive in Pine County with direct access to Interstate 35, carrying 23,600 vehicles per day between Minneapolis–St. Paul and Duluth, and is approximately 1.5 miles west of Grand Casino Hinckley. The property is leased on a double net (NN) basis commencing September 1, 2023 (rent commencement October 1, 2023) through September 30, 2033, with approximately 7.4 years of remaining term. The tenant is responsible for utilities, HVAC, CAM, insurance, taxes, and building system maintenance, with landlord responsibilities limited to the structural components and roof. Current annual base rent is $369,248 ($26.03/SF) with 2% annual escalations and one five-year renewal option extending the potential lease term through September 2038. The tenant, Pine Medical Center, is a subsidiary of Essentia Health, a nonprofit integrated health system headquartered in Duluth, Minnesota, serving Minnesota, Wisconsin, and North Dakota through 14 hospitals, 80 clinics, and nearly 30 retail pharmacies, with more than 16,000 employees and $3.28 billion in total revenues and an A- credit rating from Fitch Ratings. In Association With: Anne Perrault - MN Lic. #4056407

FOR SALE DETAILS

PRICE

$5,164,310 USD

PRICE/SF

$364 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Essentia Health ­– Hinckley Clinic

PROPERTY TYPE

Health Care

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

4.87 AC

LAND SF

212,137 SF

ZONING

-

APN/PARCEL ID

040.5650.000

ASK ABOUT THIS PROPERTY

Scott BriggsNorthmarqMore Info
918-794-9787

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

Scott BriggsNorthmarqMore Info
918-794-9787

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