30960 GOVERNMENT DR, PEQUOT LAKES

RETAIL & APTS
30960 GOVERNMENT DR, PEQUOT LAKES
COMMERCIAL REAL ESTATE | BUSINESS BROKERAGE | LAND & BUILDING DEVELOPMENT
INVESTMENT & INCOME PROPERTIES | TAX DEFERRAL STRATEGIES
30960 GOVERNMENT DR, PEQUOT LAKES
{ Table of Contents }
Page 3 - 5
6
7, 8
9
10
11
12
13
14
15, 16
17
18
19
Features
Floor Plan
Photos
Aerial
Plat
Zoning Map
Zoning Description
Traffic Counts
Location Map
Demographics
Thank You
Agency Disclosure
Contact
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
2
30960 GOVERNMENT DR, PEQUOT LAKES
{ Features }
Commercial
Building w/
Apartments.
Prime retail space available
as one large unit or
divisible into three smaller
spaces. Located in the
heart of Pequot Lakes’
business district, locals and
tourists alike flock to this
area for many of their
shopping needs - you could be in the middle of it all! Great opportunity for an end-user seeking an
affordable building with prime visibiliy and high traffic counts. In addition, you can earn extra income
on three upper level apartments, all of which are currently occupied.
Location:
30690 Government Drive, Pequot Lakes, MN 56472
Directions:
From Baxter - North on Hwy 371 to the Pequot Lakes Traffic Light Right (east on CR 11 - Right (south) on Government Drive to the 3rd
building on the left (east)
Lot Size:
7,100 sq. ft. (.16 Acres)
Lot Dimenions:
50’ x 142’
Building Size:
Front Space:
Back Space:
Breezeway:
Apartments:
Apt 1:
Apt 2:
Apt 3:
Approx. 6,304 sq. ft. Total
2,176 sq. ft.
2,016 sq. ft.
96 sq. ft. (Connects Front & Back Spaces)
2,016 sq. ft. Total (Includes Common Area)
630 sq. ft.
630 sq. ft.
680 sq. ft.
PRICE REDUCED:
$279,000
2013 Real Estate Taxes:
$15,791.08 (Including $15.00 in Assessments)
$259,000
Continued on next page.
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
3
30960 GOVERNMENT DR, PEQUOT LAKES
{ Features }
Water & Sewer:
City
Heating:
Natural Gas Forced Air
Cooling:
Electric-Central Air
Electric:
Retail Building: 200 Amps, Single Phase
Apartments: 125 Amp/Apartment
Lighting:
Fluorescent & Incandescent
Year Built:
Front Space: 2002
Back Space & Apartments: 2003
Number of Levels:
1, plus upper level apartments in the back
Construction:
Wood Frame
Foundation:
Concrete Block
Exterior:
Hardy Board (30 Year Guarantee)
Roof:
Asphalt Shingles (25 Year Warranty)
Windows:
Weather Shield Vision 2000 (10 Year Guarantee)
Ceiling Height:
Front Space: 20’ Vaulted
Back Space: 12’
Bathrooms:
Front Space: 2
Apartments: 1 per Apartment
Floor Drains:
2
High Speed Internet:
Yes
Security:
Yes
Parking:
5-6 in Front of Building, On-Street Parking on the West Side of
Governemnt Drive, and 3 Designated Spots for Apartment Tenants off
of the Alley
Continued on next page.
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
4
30960 GOVERNMENT DR, PEQUOT LAKES
{ Features }
Utilities:
Gas:
Electric:
Water, heat and light are metered separately for each apartment unit,
the back retail space, and then the front & middle spaces are combined
Xcel Energy
MN Power
Zoning:
DMU - Downtown Mixed Use
PID #:
291020060070009
Legal Description:
Lot 7 Block 6, Coles Plat of Pequot
Neighboring Businesses:
Neighboring businesses include Pfeiffer Pharmacy, American Legion,
Lakes Latte, Lucky’s Tavern, Silver Creek Traders, Lakes State Bank,
Super America, Family Dollar, Super Valu, Dairy Queen, Oasis
Restaurant/Liquor/Gas Station, Pestello’s, Wells Fargo, Dollar General,
Pequot Fire Hall Center, TimberJack Steak House, plus numerous other
retailers located within the downtown area.
Apartments:
Each Apartment Contains:
1 Bedroom
Full Bathroom
Living Room
Kitchen/Dining w/ Dishwasher, Refigerator, Sink, & Stove w/ Exhaust Hood
3-4 Closets
Washer/Dryer
Furnace/Hotwater Utility Closet
Rental Details:
Apt 1:
Apt 2:
Apt 3:
Note:
$450/Month
$400/Month (Shovels Sidewalks, Some Maintenance, Contacts
Landlord with any Issue, etc.)
$450/Month
Each tenant is responsible for their own utilities, (water, electric, etc)
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
5
30960 GOVERNMENT DR, PEQUOT LAKES
{ Floor Plan }
Upper Level Apartments
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
6
30960 GOVERNMENT DR, PEQUOT LAKES
{ Photos }
Retail Building
Front Space
Front Space
Front Space
Front Space
Back Space
Back Space
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
7
30960 GOVERNMENT DR, PEQUOT LAKES
{ Photos }
Apartments
Apartment Entrance
Upper Level is Apartments
Living Room
Kitchen
Bathroom
Laundry Closet
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
8
30960 GOVERNMENT DR, PEQUOT LAKES
{ Aerial }
N
Dollar General
UBC
Fire Hall Center
Pestello’s
Silver Creek
Lucky’s Tavern
Lakes Latte
Wells Fargo
Legion
Pfeiffer Pharmacy
Family Dollar
Super America
Chamber
Lakes State Bank
Pequot Lakes
High School
Retail &
Apartments
Oasis
Dairy Queen
Super Valu
Pequot Lakes
Industrial Park
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
9
30960 GOVERNMENT DR, PEQUOT LAKES
{ Plat }
Cole’s Plat of Pequot
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
10
30960 GOVERNMENT DR, PEQUOT LAKES
{ Zoning Map }
City of Pequot Lakes
DMU - Downtown Mixed Use
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
11
30960 GOVERNMENT DR, PEQUOT LAKES
{ Zoning Description }
DMU - Downtown Mixed Use
Purpose & Intent: To provide a zoning classification for a mix of high-density residential and
commercial uses. Development in this zone relies less on automobile traffic and more on
walking, biking and other similar modes of transportation.
Compatibility: The Downtown Mixed-Use zone is most compatible with and should be
established next to the Urban Residential zone, but it also may be adjacent to the Transition
Residential, Commercial and Light Industrial Zones.
Lot, Use, & Density Requirements:
Minimum Lot Width .................................. 25 ft.
Buildable Lot Area............................... 2,250 sq. ft.
Max. Imp. Coverage w/storm sewer....... 90%
Max. Imp. Coverage wo/storm sewer .... 50%
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
12
30960 GOVERNMENT DR, PEQUOT LAKES
{ Traffic Counts }
2007 Counts from MNDOT
Pequot Lakes Traffic Counts: 10,000 - 12,200 on Hwy 371 and 8,200 - 8,500 on CR 11 (Main St.)
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
13
30960 GOVERNMENT DR, PEQUOT LAKES
{ Location Map }
North
South
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
14
30960 GOVERNMENT DR, PEQUOT LAKES
{ Demographics }
Trade Area 2013 Population (Includes the following counties):
Crow Wing County
Cass County
Total Trade Area Population
64,181
29,349
93,530
2013 Population:
Pequot Lakes
Brainerd
Baxter
7,821
30,309
8,074
Estimated Summer Population:
Brainerd/Baxter
200,000+
Projected Population Growth Change 2013-2018:
Crow Wing County
Pequot Lakes
Households in 2013:
Crow Wing County
Pequot Lakes
0.59%
1.80%
26,802
3,228
2013 Median Household Income: Crow Wing County
Pequot Lakes
$43,810
$44,933
Crow Wing County Retail Sales in 2004:
$1,563,020,000
Major Employers (with 150 or more employees):
Brainerd Public Schools #181
St. Joseph’s Medical Center
Brainerd Regional Human Service Ctr
Grand View Lodge
Maddens, Inc.
Crow Wing County
Ascensus
Cuyuna Regional Medical Center
Cragun’s Resort
Bethany Good Samaritan Village
Central Lakes Community College
Super Wal-Mart
Brainerd Medical Center
Crosby Public Schools-ISD
Ruttger’s Bay Lake Lodge
U.S. Link
Trus Joist Mac Millan
Breezy Point Resort
Pequot Lakes Public Schools
Riverwood International USA
Nor-son, Inc.
MN Dept of Transportation
Anderson Brothers Construction
Keystone Automotive Industries
Woodland Good Samaritan Village
Good Neighbor Home Health Care
# of Employees
Brainerd
950
Brainerd
908
Brainerd
677
Nisswa
600
Brainerd
500
Brainerd
450
Brainerd
404
Crosby
390
Brainerd
350
Brainerd
325
Brainerd
313
Baxter
300
Brainerd
285
Crosby
255
Deerwood
250
Pequot Lakes
246
Brainerd
220
Breezy Point
205
Pequot Lakes
200
Crosby
190
Baxter
177
Baxter
175
Brainerd
160
Brainerd
157
Brainerd
150
Brainerd
150
Continued on next page.
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
15
30960 GOVERNMENT DR, PEQUOT LAKES
{ Demographics }
Area Businesses: (To see a list of additional businesses, please go to www.explorebrainerdlakes.com)
Financial Institutions: 15+
(multiple locations not counted)
Churches: 30+
Schools: 15+
Golf Courses: 27+
Resorts:
Bay Colony Inn
Breezy Point Resort
Craguns
Fritz’s Resort
Grand View Lodge
Gull Lake Resort
Izaty’s
Kavanaugh’s
Lost Lake Lodge
Maddens
Quarterdeck
Ruttger’s Bay Lake Lodge
Sullivans
Plus numerous others
Major Retailers:
Anytime Fitness
Baxter Village
(6 Retailers)
Best Buy
Big Lots
Book World
Brother’s Motorsports
Christmas Point
Costco
Crosslake Town Square
(12 Retailers)
Cub Foods (2)
Discount Tire
Dunham’s Sports
East Brainerd Mall
(17 Retailers)
Fleet Farm
Gander Mountain
Herberger’s
Home Depot
JC Penney’s
Kohl’s
Major Retailers Continued:
Menards
Northwoods Plaza
(6 Retailers)
Office Max
Sears
Super One
Super Wal-Mart
Target
The Power Lodge
Walgreens
Westgate Mall
(27 Retailers)
Restaurants/Fast Food:
371 Diner
Antler’s
Applebee’s
Arby’s
Bar Harbor
Billy’s
Black Bear Lodge & Saloon
Bonanza
Boomer Pizza
Boulder Tap House
Breezy Point Marina
Brick House Pizza
Buffalo Wild Wings
Burger King
Caribou Coffee (2)
Cherry Berry
China Buffet
China Garden
Cold Stone Creamery
Country Kitchen
Cowboy’s
Cragun’s Legacy Grill
Cru
Culver’s
Dairy Queen (3)
Domino’s Pizza
El Tequila
Erbert & Gerberts
Ernie’s
Four Seas
Giovanni’s Pizza
Grizzly’s Grill & Saloon
Restaurants/Fast Food Continued
Half Moon Saloon
Hardee’s
Hunt ‘N Shack
Iven’s on the Bay
Jack’s House
Jake’s
Jimmy John’s
KFC (2)
Madden’s Classic Grill
Manhattan Beach
Maucieri’s
McDonalds (3)
Moonlite Bay
Northwinds Grille
Olive Garden
Papa John’s Pizza
Papa Murphy’s Pizza
Perkins
Pestello’s
Pine Peaks
Pizza Hut
Pizza Ranch
Poncho & Lefty’s
Prairie Bay
Prime Time
Quarterdeck
Rafferty’s Pizza (3)
Riverside Inn
Ruttger’s
Sawmill Inn
Sherwood Forest
Starbucks
Subway (3)
Sunshine/Moonshine
Taco Bell
Taco John’s
The Barn
The Chap
The Commander
The Lodge Grill
The Pines at Grandview
Timberjack
TJ’s Log Cabin
Wendy’s (2)
Ye Ole Wharf
Zorbaz (2)
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
16
30960 GOVERNMENT DR, PEQUOT LAKES
{ Thank You }
Thank You for Considering this Close - Converse Opportunity
Close - Converse is pleased to present this real estate opportunity for your review. It is our intention to
provide you with the breadth of information and data that will allow you to make an informed decision.
We are Here to Help
Please review this package and contact us with any questions you may have. We are prepared to discuss
how this property meets your needs and desires. Facts, figures and background information will aid in
your decision. Should you need specialized counsel in the areas of taxation, law, finance, or other areas
of professional expertise, we will be happy to work with your advisor or, we can recommend competent
professionals.
How to Acquire this Opportunity
When you have made a decision to move forward, we can help structure a proposal that covers all the
complexities of a commercial real estate transaction. As seller’s/landlord’s representatives, we know the
seller’s/landlord’s specific needs and can tailor a proposal that expresses your desires, provides
appropriate contingencies for due diligence and results in a win-win transaction for all parties.
Agency and You
Generally, we are retained by sellers or landlords to represent them in the packaging and marketing of
their commercial, investment or development real estate. You are encouraged to review the Minnesota
disclosure form “Agency Relationships in Real Estate Transactions” which is enclosed at the end of this
package. If you have questions about agency and how it relates to your search for the right property,
please ask us. We will answer all your questions and review the alternatives.
Should you wish to pursue this opportunity, please acknowledge your review of “Agency Relationships”
by signing, dating and returning it to us.
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
17
30960 GOVERNMENT DR, PEQUOT LAKES
{ Agency Disclosure }
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
18
30960 GOVERNMENT DR, PEQUOT LAKES
{ Contact }
Address:
521 Charles Street
PO Box 327
Brainerd, MN 56401
Telephone:
218-828-3334
Fax:
218-828-4330
Website:
www.closeconverse.com
You may also contact the following members of the
Close~Converse team by cell phone or email.
Rod Osterloh
218-831-1301 cell
osterloh@closeconverse.com
Chris Close, CCIM
218-831-7510 cell
chris@closeconverse.com
Nate Grotzke, CCIM 218-838-1000 cell
nate@closeconverse.com
Tim Miller
218-838-8772 cell
tim@closeconverse.com
Jody Osterloh
218-831-0712 cell
jody@closeconverse.com
Kevin Close
218-831-3077 cell
kevin@closeconverse.com
521 CHARLES STREET | PO BOX 327 | BRAINERD, MN 56401 | 218-828-3334
© 2014 Close~Converse: The above information has been obtained from the property owner or other sources that we deem reliable, however, neither
the owner nor Close~Converse Commercial & Preferred Properties, guarantees the accuracy of such information. No part of this information may be
reproduced, adapted, or transmitted without the prior written consent of Close~Converse Commercial & Preferred Properties.
www.closeconverse.com
19