facebook
Traded Co logo
Submit
Daily limit: 0/10

Marcus & Millichap Sells Sanford Health Clinic Portfolio In Bemidji For $23.2M

Property Image
SOLD
$23,200,000
Darin Gross
Ashish Vakhariya
+ 2

Minnesota

See Similar Deals
Medical Office74,700 SF
Sold 05/06/2024
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Sanford Health Clinic Portfolio In Bemidji For $23.2M

1233 34th Street Northwest

See Similar Deals
Medical Office74,700 SF
Sold 05/06/2024
Darin Gross
Ashish Vakhariya
+ 2
Contact now

Summary

MINNESOTA
Asset Type:Medical Office
Price Per Square Foot:$310
Total Square Footage:74,700 SF
Transaction Type:Sale

The Sanford Health Clinic Portfolio in Bemidji, Minnesota, consisting of two neighboring medical office buildings totaling 74,700 square feet, was sold for $23.2 million. The properties are located at 1233 34th Street Northwest, near the Sanford Health Bemidji Medical Center and Sanford WoodsEdge senior living campus.

Summary of transaction details:

Seth Haron, Ashish Vakhariya, and Darin Gross represented the seller in the transaction, collaborating with Sykes Cargile and Rob Lyons who represented the buyer. Jon Ruzicka played a key role in closing the deal, facilitating the smooth completion of the sale of the medical office buildings.

Players

Seth Haron
12 deals$107.9M volume
BROKER

Ashish Vakhariya
Marcus & Millichap
12 deals$107.9M volume
BROKER

Darin Gross
Marcus & Millichap
12 deals$107.9M volume
BROKER

Sykes Cargile
Marcus & Millichap
1 deal$23.2M volume(615) 997-2854
BROKER

Robert (Rob) Lyons
Marcus & Millichap
1 deal$23.2M volume(615) 997-2866
BROKER

Details

SOLD
IMAGE: 05/06/2024 ADDRESS: 1233 34th Street Northwest MARKET: Bemidji, Minnesota ASSET TYPE: Medical Office BROKERS: Ashish Vakhariya, Darin Gross, Rob Lyons, Seth Haron & Sykes Cargile - Marcus & Millichap SALE PRICE: $23,200,000 SF: 74,700 ~ PPSF: $311 NOTE: Marcus & Millichap facilitated the $23.2 million sale of the Sanford Health Clinic Portfolio in Bemidji, Minnesota, comprising two neighboring medical office buildings totaling 74,700 square feet. Seth Haron, Ashish Vakhariya, and Darin Gross represented the seller, collaborating with Sykes Cargile and Rob Lyons who represented the buyer, with Jon Ruzicka assisting in closing the transaction. The properties are situated adjacent to the Sanford Health Bemidji Medical Center and Sanford WoodsEdge senior living campus, reflecting Sanford Health's prominent presence as the largest rural health system and primary employer in the Bemidji area.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,237,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$82,424.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,979.84
Annual Debt Service$1,319,758.03