Michaels | Baxter, MN

Description:

Corporate Guarantee
The lease is backed by a corporate guarantee from an established national tenant, offering investors added security and over six years of remaining term.

Prime Retail Location
This Michaels is located on an outparcel next to Target and part of a larger retail area along Highway 371, the main thoroughfare with traffic counts over 32K+ per day. The property is easily accessible with a large lot, ample parking, and signage.

Excellent Vacation Market
The Brainerd Lakes Area is a major tourist destination in Minnesota, with more than 500 area lakes. According to Crow Wing County, the county has an average population of nearly 60,000, and this increases as much as 3 times during the summer months by people enjoying the area.

Market Advantage
There is currently no retail space under construction in the Brainerd market. In addition, the tenant is paying below market rent with valuable underlying real estate.

Strong Demographics
Located about two hours north of the Twin Cities. Brainerd has had steady population growth for the last several censuses. The area within a ten-mile radius of the property has a population exceeding 40,000, with an average household income of over $80,000.


Brainerd is the anchor of the Brainerd Micropolitan Statistical Area, an area consisting of Cass County and Crow Wing County in Northern Minnesota with an estimated population of 91,000+.

The Brainerd area is a major tourist destination for Minnesota about two hours north of the Twin Cities, and nestled among more than 500 area lakes. According to Crow Wing County, the county has an average population of nearly 60,000 and this increases as much as 3 times during the summer months by people enjoying the Brainerd Lakes Area. In addition to seasonal residents, over 300,000+ visitors come to the lakes area every summer.

Research has shown that the majority of people who relocate to the Brainerd lakes area first came here as a tourist. With so much to offer residents and visitors, it's easy to see why this is a popular vacation destination. In addition to all the lakes have the offer, there are also miles of biking, hiking, and off-road adventure trails as well as indoor and outdoor waterparks, lots of local shopping and restaurants.

Brainerd isn't just a summer destination, it's popular with winter sports enthusiasts as well. One of the area's major events takes place in the middle of winter - The Annual Brainerd Jaycees Ice Fishing Extravaganza brings over eleven thousand competitors and attendees to Gull Lake, one of the premier lakes in the area. The area also has over 1,200 miles of groomed snowmobile trails.

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