2100 Bassett Dr - Horizon Homes | Mankato
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2100 Bassett Dr - Horizon Homes | Mankato
12,496 SF Health Care Building Offered at $3,525,000 at a 7.19% Cap Rate in Mankato, MN 56001
Investment Highlights
- 50+ year Operating History.
- Attractive compounding rent results in significantly higher cash flow throughout the life of the investment and is a great hedge against inflation.
- Quality Construction with Premium Finishes
- Horizon Homes has demonstrated their commitment to this location by recently completing an early lease extension resulting in a new 10-year lease.
- Horizon Homes Inc. operates multiple Residential, Rehabilitative, and Board/Lodge mental health facilities throughout the Mankato Market.
- Rising Demand for Mental Health Services
Executive Summary
CBRE is pleased to present qualified investors the opportunity to acquire the Horizon Homes, Inc. South Central Crisis Center (SCCC) in Mankato, MN. This single story 12,496 sf facility was built in 2018 and is located on 1.51 Acres. SCCC is a 16-bed short term crisis unit with an expansive common area Great Room, multiple Lounges, Administrative Conference Center, Dinning Hall, Practitioners Office, Tranquility Room, Program Room, and a spacious outdoor courtyard. The center provides support for adults with mental health needs. Stays at the facility range from a few hours up to 10 days. Services include crisis assessment and intervention, Short-term problem solving and counseling, Medication education and monitoring, symptom management, relapse prevention, family education/support, and stabilization after discharge.
Horizon Homes, Inc. was established by the First Christian Church of Mankato, Minnesota, in 1971. Founded as a residential treatment program for adult men and women recovering from mental illness they have provided care and treatment for those in need for the last four decades. Horizon Homes, Inc. has multiple programs and facilities throughout Mankato and is widely regarded as the Mental Health services leader for Blue Earth County and the surrounding communities of southern MN.
Mankato, MN is located in south-central Minnesota approximately 80 miles southwest of the Twin Cities. With a population of 47,000+ residence Mankato serves as an economic and employment hub for many surrounding communities in Southern MN. The city is also home to Minnesota State University Mankato which has 2024 enrollment of 14,000+ students.
Horizon Homes has demonstrated their commitment to this location by executing an early lease extension resulting in a new 10-year term. Horizon Homes, Inc. (SCCC) lease provides steady in-place income with significant 2% annual increases and limited landlord responsibilities. This facility is strategically positioned to meet the ever-expanding demand of mental health services with a seasoned program provider who has been in the community for over 50 years.
Horizon Homes, Inc. was established by the First Christian Church of Mankato, Minnesota, in 1971. Founded as a residential treatment program for adult men and women recovering from mental illness they have provided care and treatment for those in need for the last four decades. Horizon Homes, Inc. has multiple programs and facilities throughout Mankato and is widely regarded as the Mental Health services leader for Blue Earth County and the surrounding communities of southern MN.
Mankato, MN is located in south-central Minnesota approximately 80 miles southwest of the Twin Cities. With a population of 47,000+ residence Mankato serves as an economic and employment hub for many surrounding communities in Southern MN. The city is also home to Minnesota State University Mankato which has 2024 enrollment of 14,000+ students.
Horizon Homes has demonstrated their commitment to this location by executing an early lease extension resulting in a new 10-year term. Horizon Homes, Inc. (SCCC) lease provides steady in-place income with significant 2% annual increases and limited landlord responsibilities. This facility is strategically positioned to meet the ever-expanding demand of mental health services with a seasoned program provider who has been in the community for over 50 years.
Property Facts
Price | $3,525,000 | Lot Size | 1.51 AC |
Price Per Bed | $220,313 | Building Size | 12,496 SF |
Sale Type | Investment | No. Beds | 16 |
Cap Rate | 7.19% | No. Stories | 1 |
Property Type | Health Care | Year Built | 2018 |
Property Subtype | Rehabilitation Center | Parking Ratio | 2.16/1,000 SF |
Building Class | B |
Price | $3,525,000 |
Price Per Bed | $220,313 |
Sale Type | Investment |
Cap Rate | 7.19% |
Property Type | Health Care |
Property Subtype | Rehabilitation Center |
Building Class | B |
Lot Size | 1.51 AC |
Building Size | 12,496 SF |
No. Beds | 16 |
No. Stories | 1 |
Year Built | 2018 |
Parking Ratio | 2.16/1,000 SF |
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PROPERTY TAXES
Parcel Number | R01.09.15.100.028 | Improvements Assessment | $1,119,200 |
Land Assessment | $197,000 | Total Assessment | $1,316,200 |
PROPERTY TAXES
Parcel Number
R01.09.15.100.028
Land Assessment
$197,000
Improvements Assessment
$1,119,200
Total Assessment
$1,316,200
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2100 Bassett Dr - Horizon Homes | Mankato
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