Flex Space with
For Sale
$1,300,000
6.34 AC Fairview Road, Baxter, MN 56425
Commercial Sale, Baxter, MN
Property Size16,545 SF
Lot Size6.34 Acres
Price / SF$78.57
Days on Market233
Property Features for 6.34 AC Fairview Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Covered, Parking Lot
Exterior features
Block, Steel Siding
High school district
Brainerd
Directions
From Hwy 210/371 intersection in Baxter - East on Hwy 210 - North on Baxter Drive - Immediate West on Fairview Road - Property is on the North, just after Conservation Drive
Standard status
Active
APN
40050631
Lot size
6.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19960
Utilities
Heating system
Space Heater, Forced Air
Cooling system
Central Air
Building Details
Year built
1971
Building materials
Block, Steel
Roof type
Metal
Listing Agency:
Close-Converse Commercial Prop
(218) 828-3334
Listed By:
Chris Close · License #20286846
(218) 828-3334
Added: Jan 6
Changed: Aug 27
Last Checked: Aug 27 at 1:06PM
MLS# 7005587
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 16,545-square-foot flex property combines a retail showroom with warehouse and shop areas, along with indoor and outdoor display space. The building dates to 1971 and uses block and steel construction, with a metal roof. Heating includes space heaters and forced air, while central air conditioning serves the property.
The site fronts Hwy 210 and offers strong exposure to passing traffic. Covered parking and a parking lot support on-site access for customers, staff, and commercial activity. The property is positioned on Fairview Road in Baxter, Minnesota, within Crow Wing County.
The site fronts Hwy 210 and offers strong exposure to passing traffic. Covered parking and a parking lot support on-site access for customers, staff, and commercial activity. The property is positioned on Fairview Road in Baxter, Minnesota, within Crow Wing County.
Key Highlights
- 16,545 SF retail, warehouse, and shop property
- Retail showroom plus warehouse and shop areas
- Indoor and outdoor display areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,714
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,354,280
$2.4M
Cap Rate 7%
$1,681,629
$1.7M
Cap Rate 9%
$1,307,933
$1.3M
Market Conditions
NOI Build-Up for 16,545 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$144.1K $8.71/SF
− Vacancy
−$5.6K −$0.34/SF
EGI
$138.5K $8.37/SF
− OpEx
−$20.8K −$1.26/SF
NOI
$117.7K $7.11/SF
Area
Crow Wing County, MN
Vacancy
3.90%
Lease Rate
$8.71 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,354,280
Cap Rate 7%
$1,681,629
Cap Rate 9%
$1,307,933
Alternative Uses
Best Use
Retail
$2.19M
$1.92M – $2.56M
NOI $153,432 @ 7.0% cap · market cap 11.80%
Second Best
Flex RnD
$2.17M
$1.90M – $2.53M
NOI $151,958 @ 7.0% cap · market cap 11.69%
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,872 @ 7.0% cap · market cap 18.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 56425, MN
8,584
Population
3,898
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
97%
High-School Grad
18.3 sq mi
ZIP Area
469
Density / Sq Mi
$71,294
Median Household Income
$45,777
Median Earnings
$1,115
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Combined retail, warehouse, and shop areas support varied commercial operations with indoor and outdoor display space.
Where is this flex space located?
The property is located at 6.34 AC Fairview Road Baxter, MN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 16,545 SF retail, warehouse, and shop property; Retail showroom plus warehouse and shop areas; Indoor and outdoor display areas
