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Marcus & Millichap Represents Seller Group Of Veterinarians In $2.8M Medical Office Sale

Property Image
SOLD
$2,800,000
William Skoch
Christopher Mitchel

Minnesota

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Medical Office
Sold 02/14/2025
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Property Image
SOLD

Marcus & Millichap Represents Seller Group Of Veterinarians In $2.8M Medical Office Sale

340 Saint Andrews Drive & 401 20th South Street

See Similar Deals
Medical Office
Sold 02/14/2025
William Skoch
Christopher Mitchel
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:Medical Office
Transaction Type:Sale

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

William Skoch
Marcus & Millichap
William Skoch
2 deals$2.8M volume(216) 264-2037
BROKER
Christopher Mitchel
Marcus & Millichap
Christopher Mitchel
3 deals$2.8M volume(216) 264-2049
BROKER

Details

SOLD
IMAGE: 02/14/2025 ADDRESS: 340 Saint Andrews Drive & 401 20th Street MARKET: Mankato & New Ulm, MN ASSET TYPE: Medical Office BROKERS: Christopher Mitchel & William Skoch - Marcus & Millichap SALE PRICE: $2,800,000 NOTE: A real estate investment trust acquired two single-tenant animal hospitals in Minnesota for $2.8M. Marcus & Millichap’s William Skoch and Christopher Mitchel represented the seller, a group of six veterinarians, and secured the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$149,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14