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| Price $1,880,000 | Built/Renov 1999 | Tenant Michaels |
| Cap Rate 7.00% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
23,500
| Lease Start
03-02-2022
| #Units
1,300
|
| Price/SF $80.00 | Expiration
02-29-2032
| Tenant Type General Retail |
| NOI $131,600 | R. Term 6.4 | Ownership Fee Simple |
| Rent/SF
$5.60
| Increases 10.0%/6/yrs | Pop 5Mi 31,446 |
| Lot/AC 2.24 | Options 2/5yrs/10% | AHHI 5Mi $85,740 |
| | |
Michaels is strategically located along Highway 371, the main north–south corridor through the Brainerd Lakes area, with access to approximately 32,600 vehicles per day. Positioned as a Walmart outparcel within Baxter’s premier retail corridor, the site is surrounded by major national retailers such as Walmart, Home Depot, Costco, Target, ALDI, and others. The location is near several schools,...
...Hard corner intersection
Oversized lot
In location for years
WalMart out-parcel
Strategically located
Business growth area
Population increase trend
Brand new lease
Limited competition
Corporate Guarantee
Michaels is a nationally recognized specialty retailer focused on arts, crafts, framing, home décor, and seasonal merchandise. The company caters to a wide range of customers, including...
| 1 Miles | 3 Miles | 5 Miles | |
| 2030 Total Population : | 2,199 | 21,283 | 31,264 |
| 2025 Total Population : | 2,146 | 20,408 | 30,171 |
| 2025 Employed Civilian Pop : | 867 | 10,245 | 15,394 |
| 2025 Total Businesses : | 366 | 1,454 | 1,845 |
| 2025 Average Household Income : | $ 60,998 | $ 86,183 | $ 91,039 |
| 2025 Total Consumer Spending : | $ 55 M | $ 639 M | $ 993 M |
| 2025 Median Age : | 39 | 40 | 39 |
| 2025 Total Households : | 1,043 | 8,512 | 12,505 |
| 2025 Pop Age 25+: Bachelor's Degree : | 338 | 2,511 | 3,839 |
| 2025 Average Home Value : | $ 301,956 | $ 349,615 | $ 376,538 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Dellwood Drive | State Hwy 371 | 2019 | 3,900 | 0.02 mi |
| Edgewood Dr N | Clearwater Rd N | 2006 | 25,000 | 0.05 mi |
| State Hwy 371 | Clearwater Rd N | 2019 | 26,500 | 0.10 mi |
| Universal Dr N | Dellwood Dr N | 2019 | 485 | 0.18 mi |
| Edgewood Dr N | Design Dr N | 2019 | 4,250 | 0.21 mi |
| Clearwater Rd | Clearwater Rd N | 2019 | 1,850 | 0.24 mi |
| Golf Course Dr N | Universal Dr N | 2006 | 7,373 | 0.24 mi |
| Design Street | Dellwood Dr N | 2019 | 1,400 | 0.26 mi |
| Golf Course Dr | Universal Dr N | 2019 | 5,300 | 0.28 mi |
| Excelsior Rd | 2022 | 1,992 | 0.39 mi |
Gurnee, IL
Cap Rate 7.00%
Lease Double NN
R. Term 9.70 yrs
Size/SF 20,568
Danville, IL
Cap Rate 6.75%
Lease Double NN
R. Term 6.60 yrs
Size/SF 23,500
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
