1185 Town Ctr Dr Eagan, MN 55123-1187

This exceptional 43,640 square foot medical office building in Eagan, Minnesota, presents a compelling value-add opportunity. Boasting a 7.50% cap rate and a strong NOI of $636,136, the property is 90.2% occupied with a diverse mix of medical tenants, including dermatology, imaging, gastroenterology, and counseling. The anchor tenant, MNGI, recently signed a five-year lease extension, securing occupancy through 2031, contributing to a weighted average lease term exceeding 16 years and a current WALT of 5.1 years. An assumable loan with a favorable 3.25% interest rate and a 2031 maturity date further enhances the investment potential. Located at 1185 Town Centre Dr, the building benefits from an affluent demographic profile, with average household incomes within a one-mile radius reaching $162,000 – 43% above the national average. Projected population and income growth within a five-mile radius over the next five years promises continued strong performance. The asking price is $8,482,000, representing a price per square foot of $194.36. Built in 2000, this single-building property (APN: 10-28900-01-010) offers significant upside potential for savvy investors. The below-market rents provide immediate opportunities for income growth.