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1310 E Highway 96
White Bear Lake, MN 55110
Birch Lake Professional Building · Office Property For Sale
Investment Highlights
- Stabilized Multi-tenant Office Investment Property Totaling 28,818 RSF
- Recent Capital Improvements Including New HVAC, Parking Lot, Elevator & Common Area Upgrades
Executive Summary
This offering presents the opportunity to acquire a stabilized multi-tenant office investment property totaling 28,818 rentable square feet with a diversified tenant base consisting of 30 office suites. The property is currently 89.66% occupied with Seller leasing back 5,071 square feet at closing, generating stable in-place cash flow while providing additional upside through the lease-up of the remaining smaller office suites.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
28,818 SF
Building Class
C
Year Built/Renovated
1979/2019
Price
$3,900,000
Price Per SF
$135.33
Cap Rate
8.64%
NOI
$336,835
Percent Leased
88%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,409 SF
Slab To Slab
12’
Building FAR
0.31
Lot Size
2.13 AC
Zoning
GX-C - General Mix Corridors
Parking
112 Spaces (3.89 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Monument Signage
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 21-30-22-11-0001 | Improvements Assessment | $1,621,300 |
| Land Assessment | $925,900 | Total Assessment | $2,547,200 |
Property Taxes
Parcel Number
21-30-22-11-0001
Land Assessment
$925,900
Improvements Assessment
$1,621,300
Total Assessment
$2,547,200
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