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16991 198th AVE NW Big Lake, MN 55309
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Key Details
Sold Price $725,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Big Lake Marketplace Second Ad
MLS Listing ID 6184277
Sold Date 06/16/22
Year Built 2007
Annual Tax Amount $13,264
Tax Year 2022
Contingent None
Lot Size 1.230 Acres
Lot Dimensions 199 x 275
Property Description
Park Dental Net-Lease Investment. The tenant, has been in this location for 5 years and just renewed for another 3 years showing commitment to this location and market. +/- 3.5 years remaining on the lease with a 12/31/2025 expiration. Tenant has (2) additional 3 year options to renew. Seller built the property in 2007 with excellent detail and construction quality, and sold their Dental Practice to Park Dental at the end of 2017. Strong tenancy with -52 Park Dental locations throughout MN. Tenant pays Base Rent, CAM, Property Insurance, and 90% of the Property Taxes. The Site also offers the ability to expand with another shovel-ready 3,100-4,000 SF building on the south side- utilities, curbs, and parking already in place for the potential expansion. This would allow tenant to expland in the future if needed with growth or add another building for additional income with another Tenant. Strong market + Internet & COVID proof tenancy. Excellent affordable pricing at only $750,000
Location
State MN
County Sherburne
Zoning Business/Commercial
Rooms
Basement None
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Parking Features Asphalt, Paved, Open
Utilities Available Heating Common
Roof Type Asphalt,Pitched
Present Use Professional/Office,Commercial,Office,Professional Service
Building
Lot Description Irregular Lot
Story One
Foundation 2967
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories One
Structure Type Fiber Cement,Shake Siding
Schools
School District Big Lake
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NEARBY SCHOOLS & BUSINESSES
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