Property currently leased to St. Cloud Hospital through July, 2024. Pure triple net lease, with Tenant paying all operating expenses. Net operating income of $728,000 provides a 10.5% CAP rate at current rents. Rent is scheduled to increase August 1, 2020. Additional revenue from Tower Lease with NewCore Wireless, LLC.
The Building consists of approximately 51,920 square feet, located on approximately 2.0 acres. Original building of approximately 37,266 square feet was built in 1997. Additional square footage of approximately 14,654 was added in 2014. Property is zoned C5 Highway Commercial and is located among retail, office, motel, and special service businesses.