Baxter, MN 56425

$1,725,000

Property Type: Commercial Square Footage: 13,464 Lot Size (sq. ft.): 60,113 Status: Closed

Current Price: $1,725,000 List Date: 9/14/2023 Last Modified: 8/07/2025

Overview

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.

Listing Details MLS# 6386974

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
Foundation Size: 6732
For Sale or Lease: For Sale
Acres: 1.38
Lot Dimensions: 399x150x400x150

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

Contract Information

Digitally Altered Photos: No
Off Market Date: 2023-12-20
Closed Date: 2023-12-20
Sales Close Price: 1725000
Contingency: None
ListPrice: 2000000
Owner is an Agent?: No

Location Tax and Other Information

Postal City: Baxter
County: Crow Wing
State: MN
Zip Code: 56425
Complex/Dev/Subdivision: Second Add Johnson Centre

Assessments

Assessment Balance: 10455.08
Tax With Assessments: 33766

Building Information

Building Finished SqFt: 13464
Building SqFt: 13464
Ceiling Height: 8-10

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 28
Section#: 5
Township#: 133

Sale Options

Sale Includes: Building, Land, Leases

Unit Details

Total Units: Yes

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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

, Baxter, MN 56425 (MLS# 6386974)