1420 2nd St North, Sauk Rapids, MN
Others for Sale - $4,061,538 - 20,000 Sq. Ft.
Property Info
CIMLS# | 1092733 |
Location 1420 2nd St North Sauk Rapids MN 56379 | |
Updated | September 27th, 2021 |
Type | Others |
Price | $4,061,538 |
Building | 20,000 Sq. Ft. |
Property Description
CBC Orion is pleased to offer for sale this single tenant sale leaseback Assisted Living facility located in the Saint Cloud, MN Market (MSA of 200,000 +). Great location in a growing community with over 100,000 population within 5-mile radius. Location is approximately 60 miles northwest of the Twin Cities.
Offering consists of (1) One - Two story building totaling approximately 20,000 square feet with 27 Rooms (licensed for 30 residents). This well-maintained property was completely renovated in 2016 with over $1.6 MIL invested. Additionally, there was a new roof installed in 2019. Property features: large commercial kitchen, large dining and community room areas, multiple laundry rooms, resident bathing room, executive conference room, fully sprinkled building, and more.
Tenant principals have over a 20-year history of developing and owning assisted living and health care facilities. This offering represents an excellent opportunity to acquire a well located, very well-maintained asset with a strong experienced operator. Tenant will execute a new 10-year NNN lease at closing with 1.25% annual increases.
Confidential offering. Complete offering package available upon request and with a signed non-disclosure agreement.