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4702 Grand Ave
Duluth, MN 55807 Spirit Valley/Denfeld/Norton Park

$7,100,000 USD

Medical For Sale  •  20,512 SF

Property Details

  • Property Type Medical
  • Total Building Size 20,512 SF
  • Lot Size 2.14 AC
  • Building Class B
  • Year Built 1997
  • Cap Rate 6.65 %
  • Tenancy Single
30 Transit Score
50 Walk Score

Highlights

Investment Grade Credit: This is a corporate lease with Aspirus Health (S&P:AA-) parent company, offering a full backstop of the lease obligations
Dominant Regional Health System: Headquartered in Wausau, WI, Aspirus Health (S&P: AA-) is a dominant healthcare network operating 18 hospitals
Absolute NNN Lease Structure: The tenant is responsible for all property expenses, including roof and structure
Aggressive Rent Growth: The lease features 3.00% annual rental increases, providing superior income growth.
Stable Long-Term Yield: With approximately 7.6 years of term remaining, the asset offers durable and predictable cash flow
Favorable Demographics: According to the U.S. Census Bureau, Duluth has a favorable population
Cap Rate: 6.65 %

Major Tenants

Tenant SF Occupied Lease End Date
St. Luke's Hospital

Public Transportation

AirportDriveWalkDistance
Duluth International 23 min - 9.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 77
Type: Surface
Included in Rent: Yes
Michael Moreno 818-522-4497 Matthews Real Estate Investment Services
Michael Moreno 818-522-4497 Matthews Real Estate Investment Services