2718 Ekko Ave | Albert Lea, MN 56007
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2718 Ekko Ave
Albert Lea, MN 56007
Epiphany Dermatology | 5 Yr Lease | 3% Bumps · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Very Passive Lease Structure –There are minimal landlord responsibilities throughout the lease term, offering a passive investment
- An Affluent Area with High Incomes – The asset caters to residents within a 5-mile radius who boast an average household income of over $85,000
- Long-Term Operating History – This office has been a stable dermatology practice since the building was built in 2006.
- Stable Long-Term Investment – Just under 5 years are remaining on the lease, with 3% annual increases and three (3)–five (5) year options to extend.
- Top 5 Small Towns in the US – According to a recent ranking by Realtor.com, “a number of Minnesota cities rank among the best cities to live
- Robust Growth in Dermatology: A 3 Billion Dollar Market – The dermatology industry in the US is expected to grow at a 7% CAGR from 2023 to 2032
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Building Size
4,400 SF
Building Class
B
Year Built
2006
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.07
Lot Size
1.46 AC
Zoning
B2
Parking
12 Spaces (2.4 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 34.347.0040 | Improvements Assessment | $33,000 |
| Land Assessment | $730,700 | Total Assessment | $763,700 |
PROPERTY TAXES
Parcel Number
34.347.0040
Land Assessment
$730,700
Improvements Assessment
$33,000
Total Assessment
$763,700
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