Sold
7651 Universal Road
Baxter MN, 56425
$1,725,000
$128.12 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
August 23, 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
Listing History
Date | Event | Price |
---|---|---|
12/20/2023 | Price change | $1,725,000 -14% |
12/20/2023 | Sold | $1,725,000 |
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.
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Data last updated 1:59 PM UTC, 8/23/2024