654 Central E Ave Saint Michael, MN 55376-9632
Property profile & analytics
654 Central E Ave Saint Michael, MN 55376-9632
- Medical Office Space
- 4,155 SF
- 0.87 lot acres
Property ID
US46-1899629
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Medical Office Space
Property Details for 654 Central E Ave
- Year built
- 2019
- Construction
- STEEL FRAME
- Lot size
- 0.87 lot acres
- Property size
- 4,155 SF
- Property type
- Medical Office Space
- Property subtype
- Medical space
- APN
- 114-355-001010
- APU
- 114355001010
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,980,000
- ML approach
- $1,985,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Saint Michael
- County
- Wright
- State
- Minnesota
- Longitude
- -93.6523
- Latitude
- 45.2107
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$27,930
$332,500
$825,800
$1,158,300
-
$332,500
$825,800
$1,158,300
