Rural MN - Triple Net Lease pricing

[Dennis Meints]

I've got a partner trying to figure out a fair market price for a NNN lease in rural Minnesota. Location is Pine Island (15 min North of Rochester). The space has been used for medical (chiropractic care). Nearest comps are in Rochester, but with the Mayo Clinic, it's hard to know how comparable those really are.

Any advice on how to determine a fair triple net price?

Thanks for the help!

[Jake Huglen]

I think the partner should probably charge the hypothetical "Dr. S" slightly below Rochester comps with a step-up lease structure. The partner has more leverage with an established location.