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8290 NE University Ave

Minneapolis, MN 55432

$7,725,000

Medical For Sale  •  25,494 Sq Ft

Property Details

  • Property Type Medical
  • Total Building Size 25,494 Sq Ft
  • Lot Size 1.29 ac
  • Building Class B
  • Year Built 1990
  • Cap Rate 7.75 %
  • Tenancy Multiple
  • Zoning C-2 General Business
41 Transit Score
63 Walk Score

Description

Twin Cities Orthopedics Is One of the Largest Independent Orthopedic Practices in the County:     
- 1,900+ employees and 124 physicians, across 39 specialized facilities throughout MN and WI
- One of the most recognizable specialty groups in the region and has operated at this location since 2006


Value-Add Medical Investment Opportunity: Minnesota Orthopedic Surgery Center (31% of NOI) is currently dark but paying full rent and expense reimbursements until 11/2024; opportunity for new owner to negotiate buyout/replace the rent


Close Proximity to Mercy Hospital Unity Campus: Part of the Allina Health System, one of MN’s largest health care systems based in Minneapolis; 1-mile from subject property


Fridley is Part of the Twin Cities MSA, One of the Strongest Midwest Economies:    
- GDP is the 2nd largest in the Midwest behind only Chicago
- 13th largest economy in the nation


Excellent Visibility: Features high-quality glass construction; extremely visible from University Avenue, one of the main thoroughfares connecting with Minneapolis

Highlights

Twin Cities Orthopedics Is One of the Largest Independent Orthopedic Practices in the County
Value-Add Medical Investment Opportunity
Close Proximity to Mercy Hospital Unity Campus
Fridley is Part of the Twin Cities MSA, One of the Strongest Midwest Economies:
Features high-quality glass construction; extremely visible from University Avenue, one of the main thoroughfares connecting with Minneapolis

Financial Summary (Actual)

Net Operating Income: $598,764 (2019)
Cap Rate: 7.75 %

Major Tenants

Tenant SF Occupied Lease End Date
Minnesota Orthopedic Surgery Center 6,143 SF 10/31/2024
North Metro Orthotics & Prosthetics 1,092 SF
Twin Cities Orthopedics 15,894 SF 12/31/2025

Amenities

  • Signage

Public Transportation

Commuter RailDriveWalkDistance
Fridley Station Commuter Rail (Northstar Corridor) 8 min - 3.2 mi
Coon Rapids-Riverdale Station Commuter Rail (Northstar Corridor) 13 min - 8.5 mi
AirportDriveWalkDistance
Minneapolis–Saint Paul International Airport 38 min - 23.0 mi
Dylan Mallory 844-585-7678 Hanley Investment Group
Dylan Mallory 844-585-7678 Hanley Investment Group