WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
Online Auction Net Lease Opportunity – Assisted Living Facility
This income producing property contains 12,000 +/- Leased sf, with approximately 20,000 additional that can be renovated and/or converted to provide added income stream such as multi-family or senior housing. The current tenant has occupied the property since 2012 and is a well-established and licensed provider of assisted living services in central Minnesota.
Tenant recently renewed its lease at a rate of $6,000 per month with an option for an additional year’s lease with rent increase to $7,000 per month starting July 2024. The property has a (15) resident bed capacity, a full-size commercial kitchen, dining area, common and recreational rooms, laundry area, office, medication room and other amenities. Property in generally sound condition, tenant maintains interior spaces plus grounds care (mowing, bushes & snow removal), landlord maintains exterior and HVAC systems, property is sold in its as is/where is condition. The property is located within a 30 minute drive of downtown St. Cloud, MN in the bucolic township of Holdingford, MN.
Highlights Include:
12,000 +/- Sq. Ft. Assisted Living Facility under lease – Landlord Possession at Closing
Long Term Tenant with Recently Renewed 1 Year Lease
Tenant Currently Pays $6,000/mo. with Option to Extend addn. Year to $7,000/mo. in July 2024
Licensed for All Levels of Personal Care with a 15 Resident Capacity
Limited Competition for Assisted Living Service – Tenant in Place for over 10 Years
Adjoining Building Provides Ample Room for Future Expansion, Renovation & Value Add
Fantastic Investment Opportunity – Buy It At Online Auction or Pre-Sale Offers Welcomed!
30 Minutes from downtown St. Cloud, MN – Largest Population Center in Central MN
Zoning: Mixed Family Residential (R-2)
Broker/Agent Participation Welcomed – Contact Tranzon for Information & Registration!
Utilities: Electric, Natural Gas, City Water & Sewer
Property Address: 231 Washington Street, Holdingford, MN 56340
Online bidding ends October 19th at 3:00 PM ET
Inspection: October 12th at 12:00 PM ET
10% Buyer's Premium and other terms apply
Contact Jordan Conlee at 888-791-7307 ext. 809 or jconlee@tranzon.com
