$1,725,000
MLS# 6386974
Status: Closed
13464 sqft
1 / 21
Property Description
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.
Details
Contract Information
Digitally Altered Photos: No
Owner is an Agent?: No
Status: Closed
Off Market Date: 2023-12-20
Current Price: $1,725,000
Closed Date: 2023-12-20
Sales Close Price: 1725000
Contingency: None
ListPrice: 2000000
List Date: 2023-06-14
Office/Member Info
Association: GLAR
MLSID: RMLS
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 88
Owner Occupied: No
Year Built: 1995
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Dimensions: 399x150x400x150
Acres: 1.38
Foundation Size: 6732
Garage Stalls: 0
For Sale or Lease: For Sale
Location, Tax and Other Information
Legal Description: LOT 1 BLOCK 1
Listing City: Baxter
Map Page: 999
Rental License?: No
School District: Brainerd
School District Phone: 218-454-6900
Zip Plus 4: 9803
Property ID Number: 034320010010009
Tax Year: 2023
Tax Amount: 23310.92
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: 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.
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
Accessible
No Stairs External: 1
Air Conditioning
Central Air: 1
Assessments
Assessment Balance: 10455.08
Tax With Assessments: 33766
Building Information
Building Finished SqFt: 13464
Building SqFt: 13464
Ceiling Height: 8-10
Construction Status
Previously Owned: 1
Exterior
Stucco: 1
Financing Terms
Conventional: 1
Fuel
Natural Gas: 1
Heating
Forced Air: 1
Internet Options
Fiber Optic: 1
Lease Details
Land Leased: Not Applicable
Lock Box Type
None: 1
Miscellaneous Information
Homestead: No
Three Phase: 1
Ownership
Fractional Ownership: No
Parking Characteristics
Uncovered/Open: 1
Public Survey Info
Range#: 28
Section#: 5
Township#: 133
Road Frontage
City Street: 1
Paved Streets: 1
Storm Sewer: 1
Roof
Age 8 Years or Less: 1
Flat: 1
Sale Options
Sale Includes: Building, Land, Leases
Sewer
City Sewer/Connected: 1
Stories
Two: 1
Topography
Level: 1
Unit Details
Total Units: 1
Water
City Water/Connected: 1
On Site Utilities
Electric Common: 1
Heating Common: 1
Hot Water Common: 1
CMU Style
Freestanding: 1
Office: 1
Current Use
Commercial: 1
Office: 1
Location Description
Free Standing: 1
Potential Use
Office: 1
Location Tax and Other Information
Postal City: Baxter
County: Crow Wing
State: MN
Zip Code: 56425
Complex/Dev/Subdivision: Second Add Johnson Centre
Property Features
Accessible: No Stairs External
Air Conditioning: Central Air
CMU Style: Freestanding; Office
Construction Status: Previously Owned
Current Use: Commercial; Office
Exterior: Stucco
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Forced Air
Internet Options: Fiber Optic
Location Description: Free Standing
Lock Box Type: None
Miscellaneous Information: Three Phase
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Parking Characteristics: Uncovered/Open
Potential Use: Office
Road Frontage: City Street; Paved Streets; Storm Sewer
Roof: Age 8 Years or Less; Flat
Sewer: City Sewer/Connected
Stories: Two
Topography: Level
Water: City Water/Connected
Listing Office: Close-Converse Commercial Prop
Last Updated: August - 07 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.