310 W LAUREL ST, BRAINERD, MN 56401

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1 COMMERCIAL BUILDING 310 W LAUREL ST, BRAINERD, MN COMMERCIAL REAL ESTATE BUSINESS BROKERAGE LAND & BUILDING DEVELOPMENT INVESTMENT & INCOME PROPERTIES TAX DEFERRAL STRATEGIES

2 { Table of Contents } Page 3, 4 Features 5 Photos 6 Section Map 7 Section Aerial 8 Aerial Photo 9 Zoning Map 10, 11 Zoning Description 12 Traffic Counts 13 Location Map 14, 15 Demographics 16 Thank You 17 Agency Disclosure 18 Contact 2

3 { Features } Investment Opportunity. Excellent investment opportunity near Downtown Brainerd. This fully-occupied autoservice building is equipped with numerous overhead doors and vehicle bays. This highly visible, easily accessible property is located on the west end of the Laurel Street bridge, not far from the lighted Walgreens intersection. Great opportunity for an owner/user or investor looking for a return on investment with the current tenant. Location: 310 W Laurel Street, Brainerd, MN Directions: From Walgreens, at the corner of Washington Street (Hwy 210) & SW 4th Street - South on SW 4th - East on Laurel Street - Property is located on the North side of Laurel Street just after State Farm Insurance/Edward Jones Lot Size: 0.7 Acres (30,750 sq. ft.) Lot Dimensions: 205 x 150 Road Frontage: 205 +/- along Laurel Street Building Size: 7,592 sq. ft. (108.3 x 70.1 ) Note: Currently Leased by Paradigm Performance Purchase Price: $399, Taxes: $5, (Including $15 in Assessments) Continued on next page. 3

4 { Features } Water & Sewer: Heating: Cooling: Electric: Lighting: Construction: Foundation: Exterior: Roof: City 2 GFA Furnaces & 1 Overhead GFA Unit None 200 Amp, Single Phase (3-Phase is available, check with Brainerd Public Utilities for more information) Mercury Vapor & Incandescent Concrete Block Concrete Stucco Flat Rubber Membrane Ceiling Height: Office: 8 Garage: Overhead Doors: 11 Total 2 (11 6 H x 10 W) 6 (10 H x 10 W) 3 (12 H x 12 W) Bathrooms: 1 Floor Drains: Parking: Access: Zoning: 2 (SW Garage Area) Gravel Lot Entrance & Exit onto/off of Laurel Street B2 - Neighborhood Business District Continued on next page. 4

5 { Features } PID#: A009 Legal: The S ly 150 of BNSF Railway Company s 400 ROW, being 200 wide on each side of said railway company s main track centerline, as originally located and constructed upon, over and across Govt Lot 7 of Sec 4 and Govt Lot 1 of Sec 9, all in TWP 133, RNG 28, lying between two lines drawn parallel with and dist respectively 50 and 200 S ly, as measured at right angles from said main tract centerline, bounded on the E by the W bank of the Mississippi River, and bounded on the W by the E ly ROW line of SW 4th Street as dedicated on the Plat of West Brainerd, except that part thereof that lies NE ly of the NE ly line of Third Street as dedicated on the West Brainerd Plat and the S ly extension thereof. The above desc parcel includes portions of Block 3, Third Street and Florence Street, all as dedicated on the Plat of West Brainerd. And also except the following parcel; (S ly 150 of BNSF Railway Co s 400 wide charter ROW being 200 wide on each side of said Railway Co s main tract center line as originally located & constructed upon over & across GL 7 of Sec 4 & GL 1 of Sec 9 TWP 133 RNG 28 lying between 2 lines drawn parallel with & distant respectively 50 & 200 S ly as measured at right ang from mail tract C/L bounded on E by W bank of Mississippi River & bounded on W by E ly ROW of SW 4th St as dedicated on Plat of West Brainerd exc pt thereof that lies NE ly of SW ly line of Lot 5 Block 3 West Brainerd & the SE ly ext thereof. The above desc parcels incl pt of Block 3 of Plat of West Brainerd.) Subj to an easemnt of record. Neighboring Businesses: Existing Tenant Lease: Ownership Disclosure: Businesses in the area include Edward Jones, State Farm Insurance, Walgreens, Erbert & Gerbert s, Wells Fargo, Domino s Pizza, Rafferty s Take & Bake, Subway, McDonalds, Wendy s, Ace Hardware, Service Drug, North Medical Supply, Riverside School, plus several others. Paradigm Performance leases the entire building (7,592 sq. ft.) at $2,500/month Gross plus Utilities. Property is Broker Owned 5

6 { Floor Plan } 6

7 { Photos } 7

8 { Section Map } 8

9 { Section Aerial } Edward Jones State Farm Paradigm Performance Mississippi Terrace Apartments Halverson Law 9

10 { Aerial Photo } BAXTER INDUSTRIAL PARK Harley Davidson RAILROAD Super One Brothers Westport Shopping Center Pizza Hut BlackRidge Bank Mills Honda Burger King Lakes 12 Big Lots Dunham s Sports Westgate Mall N Commercial Building State Farm Edward Jones SW 4TH ST Perkins Tanner Motors Brainerd Dispatch McDonalds Wendy s Heartland Tire Wells Fargo Subway Dominos Erbert & Gerberts Walgreens North Medical Supply Chamber Ace Hardware Riverside School Mississippi River County Police LAUREL STREET Fire Station Brainerd Police Court House County Jail Dairy Queen Brickhouse Pizza Brainerd Floral WASHINGTON ST/HWY 210 Hardee s 10

11 { Zoning Map } B2 - Neighborhood Business 11

12 { Zoning Description } SECTION NEIGHBORHOOD BUSINESS DISTRICT (B-2) Subd. 1. Purpose The purpose of this district is to allow commercial uses complementary and adjacent to residential uses and also allow for expansion of the Central Business District (CBD). The primary emphasis in this district will be local retail facilities such as grocery and convenience stores. Subd. 2. Permitted Uses Commercial establishments offering merchandise or services to the general public in return for compensation. Such establishments to include but not be limited to the following: (1) Retail establishments such as groceries, hardware, drug, clothing and furniture stores, and restaurants. (2) Personal services such as laundry, barber, shoe repair shop and photography studios. (3) Professional services such as medical and dental clinics, architects and attorneys offices. (4) Repair services such as jewelry and radio and television repair shops. (5) Finance, insurance and real estate services. (6) Public and Semi-public Buildings such as post office and fire station. (7) Any use listed as a permitted use in the B-1 District as regulated by Section Subd. 2. (8) Transient merchants and transient produce merchants. (9) Small Print Shop. Subd. 3. Accessory Uses (1) Uses incidental to the principal uses such as off-street parking and loading and unloading areas, storage of merchandise. (2) Signs shall be subject to sign regulations. (3) Single-family dwellings. Continued on next page. 12

13 { Zoning Description } Subd. 4. Conditional Uses (1) Any use permitted as a conditional use in the B-1 District as regulated by Section Subd. 4. (2) Theaters, but not drive-in theaters. (3) Light manufacturing as regulated in Section (4) Private clubs and lodges. (5) Accessory structures or uses not listed as permitted. (6) Open sales or storage lot. (7) Service station as regulated by Section (8) Assembly. (9) Placement and operation of outdoor wood burning furnaces Subject to provisions of Section Subd. 21. Subd. 5. Minimum Lot Requirements and Setbacks Lot Area 10,000 sq. ft. Lot Width 75 ft. Front Yard Setback 20 ft. Side Yard Setback, internal lot 10% of lot width Side Yard Setback, corner lot 20 ft. Rear Yard Setback 10 ft. Setback from adjacent residential zoning 30 ft. Height Requirement Any structure exceeding 3 stories or 45 feet shall be setback from adjacent property lines a distance equal to one-half of the building height 13

14 { Traffic Counts } 2013 Counts from MNDOT Brainerd Traffic Counts: 6,800 on Laurel Street and 8,900 on SW 4th Street 14

15 { Location Map } North South 15

16 { Demographics } Figures from STDB, CCIM Trade Area 2013 Population (Includes the following counties): Crow Wing County 64,181 Cass County 29,349 Total Trade Area Population 93, Population: Brainerd 30,309 Baxter 8,041 Estimated Summer Population: Brainerd/Baxter 200,000+ Projected Population Growth Change : Crow Wing County 0.59% Brainerd 0.42% Households in 2013: Crow Wing County 26,802 Brainerd 12, Median Household Income: Crow Wing County $43,810 Brainerd $39,573 Crow Wing County Retail Sales in 2004: $1,563,020,000 Major Employers (with 150 or more employees): # of Employees Brainerd Public Schools #181 Brainerd 950 St. Joseph s Medical Center Brainerd 908 Brainerd Regional Human Service Ctr Brainerd 677 Grand View Lodge Nisswa 600 Maddens, Inc. Brainerd 500 Crow Wing County Brainerd 450 Ascensus Brainerd 404 Cuyuna Regional Medical Center Crosby 390 Cragun s Resort Brainerd 350 Bethany Good Samaritan Village Brainerd 325 Central Lakes Community College Brainerd 313 Super Wal-Mart Baxter 300 Brainerd Medical Center Brainerd 285 Crosby Public Schools-ISD Crosby 255 Ruttger s Bay Lake Lodge Deerwood 250 U.S. Link Pequot Lakes 246 Trus Joist Mac Millan Brainerd 220 Breezy Point Resort Breezy Point 205 Pequot Lakes Public Schools Pequot Lakes 200 Riverwood International USA Crosby 190 Nor-son, Inc. Baxter 177 MN Dept of Transportation Baxter 175 Anderson Brothers Construction Brainerd 160 Keystone Automotive Industries Brainerd 157 Woodland Good Samaritan Village Brainerd 150 Good Neighbor Home Health Care Brainerd 150 Continued on next page. 16

17 { Demographics } Area Businesses: (To see a list of additional businesses, please go to 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 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 Brick House Pizza Breezy Point Marina 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 Jakes 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) 17

18 { 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. 18

19 { Agency Disclosure } 19

20 { Contact } Address: 521 Charles Street PO Box 327 Brainerd, MN Telephone: Fax: Website: You may also contact the following members of the Close~Converse team by cell phone or . Nate Grotzke, CCIM Tim Miller Kevin Close Chris Close, CCIM Rod Osterloh Jody Osterloh cell nate@closeconverse.com cell tim@closeconverse.com cell kevin@closeconverse.com cell chris@closeconverse.com cell osterloh@closeconverse.com cell jody@closeconverse.com 20