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    Baxter Office and Warehouse Space Title is generated by Realmo AI

    7119 Forthun Rd, Baxter, MN

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    Office and warehouse suites available for lease in Baxter, Minnesota.

    Type:OFFICE
    Property size:
    907 SF
    Lot size:
    0.56 Acres
    Added:
    Apr 30, 2024
    Days on Market:
    769
    Last Refresh:
    May 20 at 9:22 pm

    Property Features for 7119 Forthun Rd

    General Information

    Standard status
    Active
    Size
    907 SF
    Lot size
    0.56 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 7119 Forthun Rd Contact us

    We can help!

    Listing Contact
    Christopher C. Close

    Listing agent Christopher C. Close

    Listing office Close-Converse Commercial Properties

    Listing date Apr 30, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Close-Converse Commercial Properties

    HighLights

    • Prime location in a growing Baxter business community, near major retailers and medical facilities.
    • Available office and warehouse suites, including Suite 102 with 907 SF and an overhead door.
    • High traffic counts on nearby Highways 371 and 210.
    • Flexible lease options: individual suites or multiple suites.
    • Ample parking with 21 paved spaces (7 available to the tenant).
    • Zoning: OS - Office Service

    Overview

    Located in a growing Baxter business community, this property offers an opportunity to lease individual office suites or warehouse space. The building has a total area of 4,814 square feet and was constructed in 2001 with a wood frame, concrete block foundation, vinyl siding, and an asphalt shingle roof. Suite 102, which is available for lease, offers 907 square feet of space with ceiling heights ranging from 14 to 18 feet and one 12' W x 12' H overhead door. Other suites are occupied by tenants such as Sandman Structural Engineers and Ariel Home Services. The property features city water and sewer, natural gas forced air heating, and central air cooling with an electric ground unit. Electrical service is 200 amps, single phase, with fluorescent lighting. There is a shared bathroom between office suites 102-106. The property includes 21 paved parking spaces, with 7 available to the tenant. The lot size is 0.56 acres with dimensions of 100.49' x 249.95' x 100' x 249' and 100' of road frontage on Forthun Road. The location is easily accessible and near big-box retailers and medical facilities. The zoning is OS - Office Service. Traffic counts range from 19,368 to 31,482 on Hwy 371, and from 15,290 to 27,888 on Hwy 210.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Dental Office Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baxter
    County
    Crow Wing
    State
    Minnesota
    Longitude
    -94.2526088
    Latitude
    46.3475656

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    FAQs

    What type of property is this?
    Office units - Office and warehouse suites available for lease in Baxter, Minnesota.
    Where is this office units located?
    The property is located at 7119 Forthun Rd Baxter, MN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Prime location in a growing Baxter business community, near major retailers and medical facilities.; Available office and warehouse suites, including Suite 102 with 907 SF and an overhead door.; High traffic counts on nearby Highways 371 and 210.
    (218) 831-7510 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christopher C. Close
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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