654 Central E Ave, Saint Michael, MN 55376-9632

This exceptional investment opportunity presents a 4,273 square foot medical office building in Saint Michael, Minnesota, boasting a 6.50% cap rate. The property is situated on a 0.87-acre lot and features a single tenant, Heartland Dental, a prominent dental practice management organization with over 1,600 locations nationwide. The building, constructed in 2020, is currently 100% occupied under a corporate-guaranteed, net-lease agreement with a remaining term of 5.1 years. The lease commenced on December 29, 2019, and expires on December 30, 2029, with built-in rent bumps of 10% every five years, providing significant long-term income growth. The current annual net operating income (NOI) is $155,964, resulting in a price per square foot of $561.54. The property benefits from its strategic location in the Minneapolis-St. Paul metropolitan area, near major roadways (I-94), and adjacent to established retail anchors such as CVS and Cub Foods. The surrounding area exhibits strong population growth and high average household incomes, exceeding $129,000 within a five-mile radius. The lease includes four and five-year renewal options, further enhancing the investment's stability and long-term potential. This property offers a compelling combination of strong tenant credit, predictable income, and significant upside potential in a thriving market. The asking price is $2,399,454.