Fully Occupied Baxter Industrial
For Sale
Contact for pricing
7771 College Rd, Baxter, MN 56425
Industrial office building in Baxter Industrial Park, fully occupied.
Property Size4,576 SF
Price / SF$109.05
Days on Market159
Property Features for 7771 College Rd
General Information
Standard status
Active
Size
4,576 SF
Total Parking Spaces
13
Property subtype
Office, Industrial
Zoning
I - Industrial Office
Building Details
Year Built
1997
Listing Agency:
Close-Converse Commercial Properties
(218) 828-3334
Listed By:
Chris Close, CCIM · License #MN 20286846
Source:
Crexi
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 14 at 12:12PM
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
Investment Insights
Based on property information with market context.
This fully occupied industrial office building is located in Baxter Industrial Park. The property features three established tenants, providing immediate and stable cash flow. It is situated in one of Baxter’s primary business hubs and offers accessibility, strong surrounding tenancy, and continued demand for industrial and office space. The building is designed to accommodate a mix of office and industrial users, maximizing functionality and tenant retention. The property size is 4576 square feet.
Key Highlights
- Fully occupied industrial office building with three established tenants, providing immediate and stable cash flow.
- Located in the highly desirable Baxter Industrial Park, a primary business hub.
- Excellent accessibility and strong surrounding tenancy.
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
$42,028
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
8.42%
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%
$840,560
$840.6K
Cap Rate 7%
$600,400
$600.4K
Cap Rate 9%
$466,978
$467.0K
Market Conditions
NOI Build-Up for 4,576 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
$68.6K $15.00/SF
− Vacancy
−$4.0K −$0.87/SF
EGI
$64.7K $14.13/SF
− OpEx
−$22.6K −$4.95/SF
NOI
$42.0K $9.18/SF
Area
Crow Wing County, MN
Vacancy
5.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$840,560
Cap Rate 7%
$600,400
Cap Rate 9%
$466,978
Alternative Uses
Best Use
Flex RnD
$600.4K
$525.4K – $700.5K
NOI $42,028 @ 7.0% cap · market cap 8.42%
Second Best
Industrial
$383.0K
$335.2K – $446.9K
NOI $26,812 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$971.5K
$850.0K – $1.13M
NOI $68,003 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
161
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
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial office building in Baxter Industrial Park, fully occupied.
Where is this flex space located?
The property is located at 7771 College Rd Baxter, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fully occupied industrial office building with three established tenants, providing immediate and stable cash flow.; Located in the highly desirable Baxter Industrial Park, a primary business hub.; Excellent accessibility and strong surrounding tenancy.
