1233 Mn-60 Faribault, MN 55021
This exceptional 5,625-square-foot medical office building, located at 1233 Highway 60 in Faribault, Minnesota, presents a compelling investment opportunity. Built in 1970 and extensively renovated in 2023, the property boasts a single-story design situated on a 0.709-acre lot. The building is zoned C-2 - Highway Commercial, offering excellent visibility and accessibility from Highway 60 and its proximity to Lyndale Avenue. Currently occupied by Brighton Hospice under a 15-year triple net lease, this property provides a stable, long-term income stream. The asking price is $1,600,000, translating to a price per square foot of $284.44. The property's location in Rice County, with its zip code 55021, offers convenient access to a thriving community. The property features one building and is identified by APN 18-36-1-50-001. This is a rare opportunity to acquire a well-maintained, recently renovated medical office building in a desirable location with a strong tenant in place. The property's strategic location and long-term lease make it an attractive investment for discerning buyers seeking a stable and profitable asset. Further details are available upon request.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.