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Shopping Strip

Spectrum Anchored Strip Center

14303 Edgewood Dr N, Baxter, MN 56425

Listing Price: $1,657,655

Cap Rate
7.25%
Rentable SF
11,026
Lot Size
2.00 acres
Year Built
2007

Investment Overview

Marcus & Millichap is pleased to exclusively represent this unique retail opportunity to invest in one of Minnesota's most well known lake areas. Baxter, MN is home to more than 400 lakes in a 30 mile radius and located only 120 miles north of the Minneapolis/St. Paul metro area making it a premiere destination for residents of the twin cities. Baxter, MN's population has increased almost 10% since 2020 and continues to rise. Recent growth and redevelopment in the area have led to numerous commercial opportunities in the Baxter area. This 11,234 SF building is located right off of Baxter's main retail corridor on Hwy 371 which sees 26,500 VPD and is home to a plethora of major national retailors including; Costco, Target, Walmart, Fleet Farm, Caribou Coffee, Chipotle, Five Guys, Jersey Mikes, Camping World, Dicks Sporting Goods and many more established business's. This property is well maintained and is anchored by a new NNN corporate Spectrum lease with annual increases. At it's current occupancy of 47% it cash ?ows well, creating an attractive upside potential with two remaining vacancies.

Investment Highlights

  • Well Maintained Property anchored by a national credit tenant, Spectrum, on a landlord friendly NNN lease. Spectrum put over $1 Million dollars into their buildout. This site serves as a hub for their
  • With pro-forma market rents, Investors could see up to a 11.7% + cap rate. A now fully occupied retail development was recently constructed adjacent to the subject property which includes a Chipotle,
  • Unemployment in the trade area is among the lowest in the nation at 3.2%. 25% of the true trade area has an income of $100,000 or greater.

Exclusively Listed By

Financing By

Shopping Strip

Spectrum Anchored Strip Center

Listing Price: $1,657,655

Cap Rate
7.25%
Rentable SF
11,026
Lot Size
2.00 acres
Year Built
2007

Investment Highlights

  • Well Maintained Property anchored by a national credit tenant, Spectrum, on a landlord friendly NNN lease. Spectrum put over $1 Million dollars into their buildout. This site serves as a hub for their
  • With pro-forma market rents, Investors could see up to a 11.7% + cap rate. A now fully occupied retail development was recently constructed adjacent to the subject property which includes a Chipotle,
  • Unemployment in the trade area is among the lowest in the nation at 3.2%. 25% of the true trade area has an income of $100,000 or greater.

Investment Overview

Marcus & Millichap is pleased to exclusively represent this unique retail opportunity to invest in one of Minnesota's most well known lake areas. Baxter, MN is home to more than 400 lakes in a 30 mile radius and located only 120 miles north of the Minneapolis/St. Paul metro area making it a premiere destination for residents of the twin cities. Baxter, MN's population has increased almost 10% since 2020 and continues to rise. Recent growth and redevelopment in the area have led to numerous commercial opportunities in the Baxter area. This 11,234 SF building is located right off of Baxter's main retail corridor on Hwy 371 which sees 26,500 VPD and is home to a plethora of major national retailors including; Costco, Target, Walmart, Fleet Farm, Caribou Coffee, Chipotle, Five Guys, Jersey Mikes, Camping World, Dicks Sporting Goods and many more established business's. This property is well maintained and is anchored by a new NNN corporate Spectrum lease with annual increases. At it's current occupancy of 47% it cash ?ows well, creating an attractive upside potential with two remaining vacancies.

Exclusively Listed By

Financing By

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