Baxter, MN 56425,7651 Universal RD
Baxter, MN 56425,7651 Universal RD
Baxter, MN 56425,7651 Universal RD
Baxter, MN 56425,7651 Universal RD
Baxter, MN 56425,7651 Universal RD
Baxter, MN 56425,7651 Universal RD
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$1,725,000

$2,000,000

13.8%
Est.Price: ?

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Est. payment /mo

1.38 Acres Lot


SOLD DATE : 12/20/2023

Key Details

Sold Price $1,725,000

Property Type Commercial

Sub Type Office

Listing Status Sold

Purchase Type For Sale

Subdivision Second Add Johnson Centre

MLS Listing ID 6386974

Year Built 1995

Annual Tax Amount $23,311

Tax Year 2023

Lot Size 1.380 Acres

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.

Location

State MN

County Crow Wing

Zoning Business/Commercial

Interior

Heating Forced Air

Cooling Central Air

Exterior

Garage Open

Utilities Available Electric Common, Heating Common, Hot Water Common

Roof Type Age 8 Years or Less,Flat

Building

Story Two

Foundation 6732

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Stucco

Schools

School District Brainerd

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Listed by Nate Grotzke • Close-Converse Commercial Prop
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