Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    371 Ironwood Dr Hwy Baxter, MN 56425

    • Land
    • 8.80 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 371 Ironwood Dr Hwy

    Lot size
    8.80 lot acres
    Property type
    Land

    Description

    This exceptional 8.8-acre commercial land parcel presents a remarkable development opportunity in Baxter, Minnesota. Strategically located on Ironwood Drive and Hwy 371, this property boasts unparalleled visibility and convenient access via County Road 48. The Mixed-Use (MU) zoning allows for a variety of development options, catering to both commercial and residential projects. Its prime location offers significant advantages, situated adjacent to the planned Wondertrek Children's Museum and a future Knute Nelson Senior Living Facility, ensuring high foot traffic and strong community engagement. The expansive acreage provides ample space for large-scale projects while maintaining easy access to the Paul Bunyan Trail. This location also benefits from proximity to schools, churches, shopping centers, restaurants, entertainment venues, and recreational facilities, making it an attractive destination for businesses and residents alike. The property's address is Ironwood Dr Hwy 371, Baxter, MN 56425, within Crow Wing County. The asking price for this exceptional development opportunity is $499,000. Don't miss this chance to secure a prominent position in a thriving Minnesota community.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Baxter
    County
    Crow Wing
    State
    Minnesota
    Longitude
    -94.2666
    Latitude
    46.3238

    Comparable in this City

    • Value Estimation by Request
      1.33 Acres

      210 And Cypress Dr

      Land • 1.33 Acres
      210 And Cypress Dr, Baxter, MN 56425
      View Details
    • Value Estimation by Request
      0.76 Acres

      Forestview Dr

      Land • 0.76 Acres
      0 Forestview Dr, Baxter, MN 56425
      View Details
    • Value Estimation by Request
      1.03 Acres

      L3B2 Forestview Dr

      Land • 1.03 Acres
      L3B2 Forestview Dr, Baxter, MN 56425
      View Details
    • Value Estimation by Request
      2.48 Acres

      Elder Dr

      Land • 2.48 Acres
      0 Elder Dr, Baxter, MN 56425
      View Details
    • Value Estimation by Request
      1.28 Acres

      Highway 210

      Land • 1.28 Acres
      0 Highway 210, Baxter, MN 56425
      View Details
    • Value Estimation by Request
      0.72 Acres

      & CR 48 College Rd

      Land • 0.72 Acres
      & CR 48 College Rd, Baxter, MN 56425
      View Details

    Similar Nearby for Sale

    • $199,000
      0.16 Acres

      Baxter Commercial Land - Site 8

      0.16-acre lot, 4,500 SF building footprint, 110 parking spaces.
      0 Bluestem Ct, Baxter, MN 56425
      View Details
    • $649,000
      0.97 Acres

      Hwy 210 Baxter Commercial Land

      Prime Baxter commercial land, high traffic location.
      0 State Highway 210, Baxter, MN 56425
      View Details
    • $3,652,500
      5.28 Acres

      Hwy 371 & 210 Commercial Land

      Prime Baxter, MN commercial land, high traffic.
      0 Hwy 371 / Hwy 210, Baxter, MN 56425
      View Details
    • Contact for pricing
      2.10 Acres

      Central Lakes Crossing Outlot

      2.1-Acre Pad-Ready Site, Baxter, MN
      0 Garrison Rd & Hwy 371, Baxter, MN 56425
      View Details
    • $65,000
      0.46 Acres

      Baxter Commercial Land - $65,000

      Prime Baxter, MN commercial lot. High visibility, easy access.
      L2B2 College Rd, Baxter, MN 56425
      View Details
    • $65,000
      0.55 Acres

      Baxter Commercial Land: Prime Location

      Half-acre lot, ideal office-service business.
      0 Fairview Rd, Baxter, MN 56425
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Pad Site For Lease

      Pad site available for ground lease in Baxter's retail area.
      7565 Excelsior Rd, Baxter, MN 56425
      View Details
    • Contact for pricing
      50,000 SF

      Central Lakes Crossing Development Site

      7.9-acre site suitable for retail, office, and more.
      7361 Glory Rd, Baxter, MN 56425
      View Details
    • $14 SF/Yr
      1,148 SF

      Baxter Office Suites For Lease

      Turn-key office suites available along Hwy 371 corridor.
      14391 Edgewood Dr N, Baxter, MN 56425
      View Details
    • $10 SF/Yr
      6,311 SF

      Baxter Commercial Space For Lease

      6,311 SF Multi-Use Building, High Visibility
      7837 Excelsior Rd, Baxter, MN 56425
      View Details
    • $12 SF/Yr
      4,090 SF

      Retail/Office Space in Westport Center

      Turn-key retail or office spaces available for lease.
      14091 Baxter Dr, Baxter, MN 56425
      View Details
    • $15 SF/Yr
      907 SF

      Baxter Office and Warehouse Space

      Office and warehouse suites available for lease in Baxter, Minnesota.
      7119 Forthun Rd, Baxter, MN 56425
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    371 Ironwood Dr Hwy
    Baxter, MN 56425
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Alternative use

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

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.