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757 S State St

29,270 SF 100% Leased Office Building Fairmont, MN 56031 $1,650,000 ($56/SF)

Medical Offices Minnesota Fairmont 757 S State St, Fairmont, MN 56031

Investment Highlights

  • Off-campus value-add medical office building totaling approximately 29,270 gross square feet on two (2) stories, expandable to approximately 40,000sf.

Executive Summary

Off-campus value-add medical office building totaling approximately 29,270 gross square feet on two (2) stories, expandable to approximately 40,000 gross square feet with existing footings in-place. Strategically located south of I-90 in Fairmont, Minnesota, between Rochester Mayo Clinic Hospital and Sioux Falls Sanford Hospitals. More than 190 shared surface parking stalls plus 20 underground heating parking stalls on-site. Existing income in-place for a portion of the first floor.
The Property is located within a Qualified Opportunity Zone (QOZ) making this an excellent owner/user or value-add investment opportunity.

Attachments

757 S State Brochure

Property Facts Under Contract

Sale Type
Investment
Sale Condition
REO Sale
Property Type
Office
Property Subtype
Medical
Building Size
29,270 SF
Building Class
B
Year Built
2002
Price
$1,650,000
Price Per SF
$56
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,635 SF
Building FAR
0.37
Lot Size
1.80 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
B-3 - (Medical Clinics Permitted)
Parking
218 Spaces (7.45 Spaces per 1,000 SF Leased)
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PROPERTY TAXES

Parcel Numbers
Multiple
  • 233080021
  • 233080020
 Improvements Assessment $1,724,200
Land Assessment $202,900 Total Assessment $1,927,100

PROPERTY TAXES

Parcel Numbers
Multiple
  • 233080021
  • 233080020
Land Assessment
$202,900
Improvements Assessment
$1,724,200
Total Assessment
$1,927,100
(763) 726-8100

Contact

  • Listing ID: 32274554

  • Date on Market: 6/27/2024

  • Last Updated:

  • Address: 757 S State St, Fairmont, MN 56031

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757 S State St, Fairmont, MN for sale Building Photo- Image 3 of 5
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757 S State St
(763) 726-8100 x

757 S State St

Lamar Newburn

(763) 726-8100

(763) 726-8100

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