We report a combined experimental and theoretical study of the spin S = 1 2 nanomagnet Cu5(OH)2(NIPA)4•10H2O (Cu5-NIPA). Using thermodynamic, electron spin resonance and 1 H nuclear magnetic resonance measurements on one hand, and ab initio density-functional band-structure calculations, exact diagonalizations and a strong coupling theory on the other, we derive a microscopic magnetic model of Cu5-NIPA and characterize the spin dynamics of this system. The elementary five-fold Cu 2+ unit features an hourglass structure of two corner-sharing scalene triangles related by inversion symmetry. Our microscopic Heisenberg model comprises one ferromagnetic and two antiferromagnetic exchange couplings in each triangle, stabilizing a single spin S = 1 2 doublet ground state (GS), with an exactly vanishing zero-field splitting (by Kramer's theorem), and a very large excitation gap of ∆ 68 K. Thus, Cu5-NIPA is a good candidate for achieving long electronic spin relaxation (T1) and coherence (T2) times at low temperatures, in analogy to other nanomagnets with low-spin GS's. Of particular interest is the strongly inhomogeneous distribution of the GS magnetic moment over the five Cu 2+ spins. This is a purely quantum-mechanical effect since, despite the non-frustrated nature of the magnetic couplings, the GS is far from the classical collinear ferrimagnetic configuration. Finally, Cu5-NIPA is a rare example of a S = 1 2 nanomagnet showing an enhancement in the nuclear spin-lattice relaxation rate 1/T1 at intermediate temperatures.