PENDING!

Exceptional single-tenant office investment property located at 7651 Universal Road, Baxter MN 56425. Strategically located in Baxter, MN, this property offers a compelling opportunity in a thriving location experiencing significant growth and economic development. The property was newly remodeled in 2023 with a five-year triple net lease with Ascensus, a well-established financial services company. Ascensus is the largest independent recordkeeping services partner, third-party administrator, and government and health savings facilitator in the United States with more than $748 billion assets under administration. The current net lease income is $157,124.88 per year (7.9% cap rate), with 3% annual increases and a lease expiration date of May 31, 2028. Prior to lease commencement, there was an approximate $1 million build-out/remodel of the space mostly paid for by the tenant, further enhancing the property value.

• Purchase Price: $2,000,000.00
• Directions: From Hwy 210/371 intersection in Baxter - North on Hwy 371 - East Exit at Design Road - North on Dellwood Drive (Frontage Road) - East on Universal Road - Property in on the South in the middle of the block
• Building Size Total (Sq. Ft): 13,464
• Building Size Main (Sq. Ft): 6,732
• Building Size Upper (Sq. Ft): 6,732
• Lot Size (Sq. Ft): 60,087
• Lot Size (Acres): 1.37
• Lot Dimensions: 399.85' x 150.3' x 400.5' x 150.14'
• Road Frontage: 399.98' on Universal Road
• Property Tax Year: 2023
• Annual Property Tax: $33,766.00
• Cap Rate: 7.9%
• Property Features / Assets: See Brochure for Tenant Lease Summary.
• Water: City
• Sewer: City
• Heating: Natural Gas Forced Air
• Cooling: Central Air - Electric Units
• Electric – Amps: 800
• Electric – Phase: Three
• Lighting: Fluorescent
• Year Built: 1995
• Construction: Wood Frame
• Foundation: Concrete
• Roof: Flat (New in 2022)
• Exterior: Stucco
• Ceiling Height: 8'
• Bathrooms: Men's & Women's Restrooms located on each floor
• Security: Security Card System
• Parking Spaces: 88 Paved Parking Stalls
• Neighboring Businesses: Neighboring businesses include The Johnson Centre, Zips Car Wash, Jimmy John’s, Panache Salon, Elite Sleep Solutions, Michaels, Target, Aldi, Stonehouse Coffee, Riverwood Bank, Days Inn, KFC, Lakes Dental, Health First Chiropractic, Great River Eye Clinic, Bremer Bank, Fleet Farm, Mills GM, Kohls, Gander Outdoor, Chipotle, Verizon, Five Guys, Jersey Mikes, Caribou, Aspen Dental, Taco Bell, plus numerous others.
• Traffic Counts: 26,500 (2019) - 31,482 (2021) on Hwy 371, 485 (2019) on Universal Road and 3,900 (2019) on Dellwood Drive
• MLS #: 6386974
• CC File #: 1164
• Zoning: C2-Regional Commercial
• PID#: 40050512
• Legal Description: Lot 1 Block 1 Second Addition to Johnson Centre