Latitudes Treatment Center - St. Paul, MN

 Mental Health / Treatment Centers / Posted 4 months ago by Deborah Vannelli, Upland Real Estate Group, Inc. / 93 views

  • Price : $1,457,647
  • Cap Rate : 6.50%
  • Net Operating Income : $94,747.08
  • Tenant : Latitudes Treatment Center
  • Lease Type : NNN
  • Lease Term Remaining (Years) : 3.5 years
  • Building Size (SF) : 6,854
  • Land Area (SF) : 46,609
  • Year Built : 2013

The tenant on the lease is Latitudes Treatment Center, LLC with a guaranty by Meridian Behavioral Health, LLC. Meridian is one of over 100 companies owned by the Audax Group, which has over $16 Billion in assets. This location as operated as a chemical dependency center for 20 years. It is extremely challenging to receive zoning approval for chemical dependency centers. The property was also remodeled in 2013. There is 3 ½ years remaining on a NNN lease with 4% annual increases.

1609 Jackson StreetSt. Paul,Minnesota,United States,55117

Deborah Vannelli
Upland Real Estate Group, Inc.

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www.nnnsales.com