slp medical office offering memorandumimages1.loopnet.com/d2/pnhrdmtdzvmginrwkvahxa-mymw... ·...

KW COMMERCIAL14300 Nicollet Court,Suite 208Burnsville, MN 55306

JONATHAN FORKNERDirector | Commercial [email protected] #40231899

CHAD HEERCCIM | Managing [email protected]

St. Louis Park Office Building

OFFERING MEMORANDUM

PRESENTED BY:

SAINT LOUIS PARK, MN

OFFERING MEMORANDUM

www.kwcommercial.com 2

KW COMMERCIAL14300 Nicollet Court,Suite 208Burnsville, MN 55306

JONATHAN FORKNERDirector | Commercial [email protected] #40231899

CHAD HEERCCIM | Managing [email protected]

Confidentiality & Disclaimer

OFFERING MEMORANDUM

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whetherwritten or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine theseand other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for aparty unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by theparty with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by Burnsville - Southern Twin Cities in compliance with allapplicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty orrepresentation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, orwithdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance ofthe property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PRESENTED BY:

SAINT LOUIS PARK, MN

http://www.kwcommercial.com


PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

PROPERTY DETAILS

COMPLETE HIGHLIGHTS

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

1PROPERTY INFORMATION

ST. LOUIS PARK OFFICE BUILDING


PROPOSAL FOR COMMERCIAL SERVICES

OFFERING MEMORANDUM


Executive Summary

ST. LOUIS PARK OFFICE BUILDING 1 | PROPERTY INFORMATION


PROPERTY FEATURES

BACK ON MARKET. MAJOR PRICEREDUCTION OF OVER $300,000

MOTIVATED SELLER. Contact ListingBroker to discuss any and all offers

Renovation 2015

Excellent Floor-plan for General orMedical Office Use

High-End Finished Space Throughout

Unique Building for Client & Patient Care

Excellent Visibility and Drive-by Exposure

Generous Surface Lot

Owner-User (single or multiple)


PROPERTY OVERVIEWKW Commercial is pleased to offer this well-appointedmedical and general office building located in the heart of St.Louis Park, MN. The 5,700 Sq. Ft. (5,418 RBA) office buildingis currently configured and built-out as a medical facility withmultiple treatment and procedure rooms, guest receptionareas, patient & staff lounge areas, meeting space, officesand a full staff kitchen to name just a few of the amenities.Easily converted to general, professional office use.

The building went through a complete renovation in 2015and now features many high-end finishes and details such asbeautiful woodwork and granite counter tops. The interiorand exterior have been designed and built to create a warm,comfortable and inviting space for patients, guests andassociates.

The building is an excellent option for many medicalpractices including, but not limited to, general practitioner,medical spa, chiropractic, orthodontia, dental, massagetherapy or birth center to name just a few. Ideal for an owneroccupancy situation as well with a finished second floorapartment with roof top access. Second floor could easily beused as additional clinic or office space as well.

Ample off street parking (15 space surface lot) to takeadvantage of high traffic counts (21,000+ daily) on ExcelsiorBlvd. The building enjoys excellent exposure and visibility.Pylon signage located in the parking lot creates additionalexposure for the building, your business and drive-by namerecognition.

Additional office use such as Attorney practice, Financial,Real Estate and related fields.

LOCATION OVERVIEWLocated on Excelsior Blvd directly west of highway 100. Thearea is busy and vibrant situated in the heart of St. LouisPark. Many area amenities are within walking distanceinclude shopping, dining, and entertainment. Excellentlocation and accessibility for both clients and associates.

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Property Description




Property Details



PROPERTYNAME:


PRICE: $995,000 (REDUCED $305,000)

STREETADDRESS:

6111 Excelsior Blvd 55416

CITY, STATE,ZIP:

Saint Louis Park, MN 55416

PROPERTYTYPE:

Office | Medical and related fields

BLDG SIZE: 5,700 SF | 5,418 (RBA)

APN: 21-117-21-32-0006

LOT SIZE: 0.39 AC

BUILDINGCLASS:

B

ZONING: Commercial

PARKINGSPACES:

15

PARKINGRATIO:

3.1 Per 1000

BUILDINGFRONTAGE:

Contact broker for additional information

CROSSSTREETS:

Excelsior Blvd & Alabama Ave SouthBrunswick Ave South

YEAR BUILT: 1912 with Renovation 2005 & 2015

CONSTRUCTIONTYPE:

Masonry

NUMBER OFSTORIES:

2 | Main & 2nd Floor Add: Full Lower Level

AVERAGEFLOOR SIZE:

Please see attached floor plans

SPRINKLER: Full (Wet)

HVAC: Rooftop (multiple units)

NUMBER OFUNITS:

Multiple (3 level)


Complete Highlights


PROPERTY HIGHLIGHTS

• Building and property in excellent condition

• High-end finishes throughout the multiple levels

• All treatment and procedure rooms have water installed

• Excellent location and building visibility

• Within minutes of Highway 100 for ease of patient andclient accessibility

• Nearly new HVAC and mechanical

• Easily converted to many owner-user office types

• Could be subdivided for multiple tenant uses or sharedgeneral professional and medical practices

• Off street parking: Surface Lot




Additional Photos


WELL APPOINTED HALLWAY TO NORTHSIDE TREATMENT ROOMS GUEST RECEPTION LOBBY

MAIN LOBBY AND RECEPTION AREA: NOTE WOODWORK AND GRANITE COUNTER TOPS THROUGHOUT



Additional Photos


GUEST RECEPTION OFFICE: 3 WORKSTATIONS

RECEPTION OFFICE: 3 WORKSTATIONS

GUEST RECEPTION OFFICE: 3 WORKSTATIONS

GUEST WAITING AREA



Additional Photos


TREATMENT ROOM ALL WITH WATER STATIONSMAIN ENTRANCE SOUTH FACING

MAIN ENTRANCE WITH VESTIBULE



Additional Photos


TREATMENT ROOM ALL WITH WATER STATIONS


LOWER LEVEL GENERAL PURPOSE OFFICE




Additional Photos


ONE OF MULTIPLE ADA RESTROOMS: PLEASE NOTE GRANITE

GENERAL LOUNGE FOR GUESTS OR STAFF

ONE OF MULTIPLE ADA RESTROOMS: PLEASE NOTE GRANITE

BREAK AREA WITH FULL KITCHEN



Additional Photos


ROOF CONDITION AND NEARLY NEW HVAC SYSTEM

STAFF WORK AND STORAGE AREA

INTERNAL SYSTEMS CLOSET: ONE OF MANY STORAGE AREAS

LOWER LEVEL OPEN AREA


LOCATION INFORMATION

2 | LOCATION INFORMATION

6111 EXCELSIOR BLVD.

AERIAL MAP | OFF STREET PARKING

2LOCATION INFORMATION




OFFERING MEMORANDUM


6111 Excelsior Blvd.

ST. LOUIS PARK OFFICE BUILDING 2 | LOCATION INFORMATION



Aerial Map | Off Street Parking

ST. LOUIS PARK OFFICE BUILDING 2 | LOCATION INFORMATION



DEMOGRAPHICS

3 | DEMOGRAPHICS

DEMOGRAPHICS MAP

3DEMOGRAPHICS




OFFERING MEMORANDUM


* Demographic data derived from 2010 US Census

Demographics Map

ST. LOUIS PARK OFFICE BUILDING 3 | DEMOGRAPHICS

ETHNICITY 1 MILE 5 MILES 10 MILES

% HISPANIC 6.5% 3.5% 7.5%

RACE 1 MILE 5 MILES 10 MILES

% WHITE 86.8% 85.4% 74.7%

% BLACK 4.3% 5.9% 12.7%

% ASIAN 3.8% 4.0% 5.6%

% HAWAIIAN 0.0% 0.1% 0.0%

% INDIAN 0.2% 0.5% 1.0%

% OTHER 0.7% 1.1% 2.8%

POPULATION 1 MILE 5 MILES 10 MILES

TOTAL POPULATION 10,993 285,448 1,105,601

MEDIAN AGE 35.3 38.7 36.5

MEDIAN AGE (MALE) 34.1 38.0 35.7

MEDIAN AGE (FEMALE) 36.7 39.4 37.3

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

TOTAL HOUSEHOLDS 5,308 133,679 482,370

# OF PERSONS PER HH 2.1 2.1 2.3

AVERAGE HH INCOME $87,132 $97,853 $77,910

AVERAGE HOUSE VALUE $424,112 $400,797 $311,187


ADDITIONAL INFORMATION

4 | ADDITIONAL INFORMATION

SITE MAP

FLOOR PLAN: MAIN LEVEL

FLOOR PLAN: UPPER & LOWER LEVEL

CITY INFORMATION

4ADDITIONAL INFORMATION




OFFERING MEMORANDUM

Site Map

ST. LOUIS PARK OFFICE BUILDING 4 | ADDITIONAL INFORMATION



Floor Plan: Main Level



FLOOR PLAN MAIN LEVELFloor Plan Information1


Floor Plans Upper & Lower Level



FLOOR PLAN UPPER & LOWER LEVELFloor Plan Information1


City Information



Saint Louis Park, MN

Community Profile St. Louis Park - Centrally located and business friendly, St. Louis Park offers an accessible, central location within theinner ring of the Twin Cities. Located immediately west of Minneapolis, the city is less than five miles from downtown and 15 miles fromthe Minneapolis/St. Park International Airport (MSP). Businesses and residents alike enjoy convenient, direct access to I-394, US169, SH7,SH100 as well as close proximity to SH62. This makes St. Louis Park ideal for efficient shipping and transportation.

An economically vibrant city with a population of 47,000, St. Louis Park is currently experiencing a renaissance. Well over half a billiondollars has been invested here over the last decade with a similar amount expected in the near future. St. Louis Park is also home totrend-setting redevelopments such as the national award-winning Excelsior & Grand mixed use project and the new West End commercialproject.

The Twin Cities is consistently ranked among the top metropolitan areas for its skilled and productive labor force. St. Louis Park residentsare rightfully proud of the academic achievements of its public schools as all have earned the National School of Excellence award. St.Louis Park is one of the few suburbs where the city and school district share boundaries, further strengthening residents ties to thecommunity. There are also nearly a dozen private and parochial school options within the city. Additionally, there are numerous colleges,universities and technical institutions in close proximity which provide employees of local businesses with opportunities for ongoinghigher education and cooperative, customized and technical training.

The city's wide variety of housing types, 51 parks, nature center, recreation center, amphitheater, 24 miles of trails as well as retail andservice offerings, make St. Louis Park a place that both employers and their employees prefer to call home.

St. Louis Park's city government is responsive, efficient and committed to complementary business growth. The city's EconomicDevelopment Authority (EDA) has partnered extensively with businesses by providing customized financing solutions to helpdefray extraordinary costs related to their projects.

Please visit the St. Louis Park website for additional information and city amenities offered at: https://www.stlouispark.org

Source: City of St. Louis Park, MN


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