Sold

7651 Universal Road

Baxter MN, 56425

$2,000,000


$148.54 per sqft

Sold

13,464 sqft

Commercial

Built in 1995

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.

6386974

MLS ID

June 14, 2023

Listed

February 16, 2024

Updated

Map

7651 Universal Road
Baxter MN, 56425

Interior Features

Total Stories

2


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

1.38 Acres


Roof

Age 8 Years or Less, Flat


Sewer

City Sewer/Connected

School Information

School District

Brainerd

Other Property Details

Taxes

$23,311


Tax Frequency

Annually


Days on Market

181


Garage

No


Parking

Open


View

No


County

Crow Wing


Water Source

City Water/Connected


Pool

No


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

12/20/2023

Price Change

$1,725,000

-14%

12/20/2023

Sold

9/14/2023

Active

9/6/2023

Pending

 

Courtesy of Close-Converse Commercial Prop

If a listing is in Coming Soon status, it is not currently available for showings but will be soon. Open House information is subject to change without warning. This home sale information is not an appraisal, competitive or comparative market analysis, CMA, or home evaluation. Information Deemed Reliable But Not Guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Larson Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 Northstar MLS. All rights reserved. 

Data last updated 12:51 AM UTC, 2/16/2024

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