$7,100,000 USD
818-522-4497
4702 Grand Ave
Duluth, MN 55807
Spirit Valley/Denfeld/Norton Park
HIGHLIGHTS
- Investment Grade Credit: This is a corporate lease with Aspirus Health (S&P:AA-) parent company, offering a full backstop of the lease obligations
- Dominant Regional Health System: Headquartered in Wausau, WI, Aspirus Health (S&P: AA-) is a dominant healthcare network operating 18 hospitals
- Absolute NNN Lease Structure: The tenant is responsible for all property expenses, including roof and structure
- Aggressive Rent Growth: The lease features 3.00% annual rental increases, providing superior income growth.
- Stable Long-Term Yield: With approximately 7.6 years of term remaining, the asset offers durable and predictable cash flow
- Favorable Demographics: According to the U.S. Census Bureau, Duluth has a favorable population
FOR SALE DETAILS
PRICE
$7,100,000 USD
PRICE/SF
$346 USD /SF
CAP RATE
6.65%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Aspirus St. Luke’s Clinic
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
B
YEAR BUILT
1998
SPRINKLERS
-
PARKING SPACES
77
LAND DETAILS
LAND ACRES
2.14 AC
LAND SF
93,218 SF
ZONING
-
APN/PARCEL ID
010361007614
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818-522-4497
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818-522-4497
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