14091 Baxter Drive, Baxter, MN
Retail for Sale - $4,954,000 - 58,197 Sq. Ft. on 7 acres
Property Info
CIMLS# | 1023594 |
Location 14091 Baxter Drive Baxter MN 56425 | |
Updated | August 15th, 2018 |
Type | Retail |
Price | $4,954,000 |
Building | 58,197 Sq. Ft. |
Land | 7 acres |
Property Description
Wakota Commercial Advisors in conjunction with Marcus & Millichap is pleased to exclusively present for your acquisition review Westport Center, a Westgate Mall shadow anchored shopping center comprised of two buildings totaling 79,176 square feet in Baxter, Minnesota. The center is positioned along MN-210 just East of MN-371 With Great visibility, and tenancy.
Westport Center is currently 89 percent occupied with 3 units with a total of 7,917 square feet of releasable vacancy upside. The tenant base consists of a complimentary mix of local tenants and National tenants (Pizza Hut, Keller Williams, & Anytime Fitness) that provides consumers with a wide range of products and services including restaurants, discount goods, and much more. Along with the Westgate Mall, additional retail traffic drivers within the area include McDonalds, Wendy
Financials
Scheduled Gross Income: $528,178
Tax Reimbursement: $72,172
Insurance Reimbursement: $7,850
CAM Reimbursement: $86,979
Admin. Reimbursement: $12,147
Total Income: $707,326
Actual Vacancy: $54,586 7.72%
Gross Operating Income: $652,740
Less Expenses: $256,665
Net Operating Income: $396,075 8.00%
Capital Reserves: $11,639 ($.20)
Loan Payments: $256,764
Pre Tax Cash Flow: $127,672 10.31%
Plus Principal Reduction: $78,287
Total Return Before Taxes: $205,959 16.63%