Updated Feb 17, 2025
Marcus & Millichap Represents Seller Group Of Veterinarians In $2.8M Medical Office Sale
340 Saint Andrews Drive & 401 20th South Street
$2,800,000
Building Size
—
Asset Type
Medical Office
Closing
Feb 14, 2025
About this deal
AI
The transaction involved the sale of two single-tenant animal hospitals located at 340 Saint Andrews Drive and 401 20th Street in Mankato and New Ulm, MN. The total sale price for the asset was $2,800,000, representing a significant investment in the medical office sector.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $2,800,000
- Sale Date: 02/14/2025
- Market: Mankato & New Ulm, MN
- Brokers: Christopher Mitchel & William Skoch - Marcus & Millichap
- Seller: A group of six veterinarians
- Buyer: A real estate investment trust
Christopher Mitchel and William Skoch of Marcus & Millichap represented the seller in this transaction, facilitating the sale and securing the buyer. Their role was crucial in bringing together the parties involved in this real estate investment deal.
Players
Mankato Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93