5555 96th N Ave Brooklyn Park, MN 55443-4506
- Commercial real estate
- 3.59 lot acres
Jul 08, 2022
Current Use by Public Records
- Commercial real estate
Property Details for 5555 96th N Ave
- Year built
- 2021
- Lot size
- 3.59 lot acres
- Property type
- Commercial real estate
- APN
- 09-119-21-31-0012
- APU
- 911921310012
Description
This exceptional investment opportunity presents a Class A, 39,895 square foot medical office building in Brooklyn Park, Minnesota. The property boasts a 100% occupancy rate with a long-term, single-tenant Net Net Net (NNN) lease to Rasmussen University, the largest Rasmussen campus in the Twin Cities. The lease commenced May 1, 2022, and has a remaining term of 7.5 years, with annual rent increases of 3.0% and two 5-year renewal options. Built in 2022, this state-of-the-art facility features specialized labs and technology, perfectly suited for its healthcare education purpose. The building sits on a 5.2-acre lot in a high-growth area with an average household income exceeding $140,000. Its strategic location along Highway 610 (50,000 vehicles per day) provides excellent visibility and accessibility, near major employers and retail amenities. The property offers a compelling 8.50% cap rate and a strong Net Operating Income (NOI) of $899,233. This is a rare opportunity to acquire a high-quality, income-producing asset in a thriving market. The asking price is $10,580,000.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $10,340,000
- ML approach
- $8,265,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn Park
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.3521
- Latitude
- 45.1284
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
