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Hammes Partners Acquires Blaine Medical Office From MSP Commercial For $14.15M
SOLD
$14,150,000
+ 1
Minnesota
See Similar DealsMedical Office33,399 SF
Sold 10/24/2025
SOLD
Hammes Partners Acquires Blaine Medical Office From MSP Commercial For $14.15M
11091 Ulysses Street Northeast
See Similar DealsMedical Office33,399 SF
Sold 10/24/2025
+ 1
Summary
MINNESOTA
Asset Type:Medical Office
Price Per Square Foot:$423
Total Square Footage:33,399 SF
Transaction Type:Sale
The asset involved in this transaction is the Blaine Medical Building located at 11091 Ulysses Street Northeast, Blaine, MN. The property spans 33,399 square feet and was sold for a total of $14,150,000, translating to a price per square foot of $424.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $14,150,000
- Sale Date: 10/24/2025
- Buyer: Hammes Partners
- Seller: MSP Commercial
- Brokers: Louis Suarez, Misty Bowe, Tom O'Brien & Jordan Selbiger - Colliers
The deal was facilitated by brokers Louis Suarez, Tom O’Brien, Misty Bowe, and Jordan Selbiger from Colliers, who represented MSP Commercial, the seller. This transaction demonstrates the strong demand from investors for quality medical office spaces within the Twin Cities market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$754,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,271.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,078.22
Annual Debt Service$804,938.63
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