23787 & HWY 371, NISSWA, MN

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1 DEVELOPMENT LAND & 23635, MN COMMERCIAL REAL ESTATE BUSINESS BROKERAGE LAND & BUILDING DEVELOPMENT INVESTMENT & INCOME PROPERTIES TAX DEFERRAL STRATEGIES

2 { Table of Contents } Page 3-5 Features 6 Divisble Areas, Land Use & Pricing 7 Survey 8 Section Map 9 Section Aerial Aerial Photos 12 Zoning Map 13 Traffic Counts 14 Location Map 15, 16 Demographics 17 Thank You 18 Agency Disclosure 19 Contact 2

3 { Features } Commercial & Residential Development Opportunity. Take all or just part of this rare opportunity to purchase and develop a large tract of acreage near Sportland Corners in Nisswa. Nearly 135 acres lies along the Hwy 371 corridor offering prime visibility and easy access - located close to a major, controlled intersection leading to numerous resorts, homes, businesses, and tourist attractions. Property is zoned for both commercial and residential development - making it ideal for many uses. Develop your dreams today! The site is suitable for medical, retail, hospitality, office or residential projects. Seller will divide. Location: & Hwy 371, Nisswa, MN Directions: From the Baxter Hwy 210/371 intersection - North on Hwy 371 towards Nisswa - Property is located on the west side of Hwy 371 just south of Holiday Gas - Property begins approx. 800 south of the Hwy 371 / CR 77 intersection and runs south to Polks Road. Lot Size: Approx Total Acres less ROW (According to Survey) Road Frontage: Approx. 3, along Hwy 371 PRICE REDUCED: $2,750,000 $2,350,000 Note: Seller has proposed to divide the entire tract into 8 developable areas plus green space. Area zoning, size and pricing can be seen on page Taxes: $22, For Entire Tract (Including $15.00 in Assessments) Water: Wells would need to be installed - Nisswa currently has no municipal water supply. Continued on next page. 3

4 { Features } Sewer: Zoning: Highway Business: Urban Residential: City hook-up available - Municipal waste-water is located on the east side of Hwy 371 and will have to be extended to the property. Current Zoning is HB - Highway Business District & UR - Urban Residential. The Seller is pursuing different configurations for the zoning, as shown on page 6. A district that allows and encourages commercial development that provides services and shopping facilities adjacent to Trunk Highway 371. The City should encourage open space design principles for commercial projects within this district. A district designed to provide traditional residential neighborhood sites adjacent to downtown and the Sportland Corner area. Residential densities should range from one unit per 15,000 s.f. (with municipal sewer) to one unit per 20,000 s.f. (without municipal sewer) The City should allow single family, duplex, tri-plex and quad home developments. Building types that incorporate more units may be allowed by conditional use permit. Access Points: See Section Aerial on Page 8 A) North: Access is from County Road 77, between Glynlyon and the water slide B) East: Full access is provided on Hwy 371 toward the northerly portion of the property C) South: Full access is provided on Hwy 371 at Polk s Road Neighboring Businesses: Located along the Hwy 371 corridor, neighboring businesses include Holiday Gas Station, Glynlyon, Schaefer s Foods, BlackRidge Bank, Spirits of Nisswa, Gull Dam Brewery, Wendy s, Positive North Realty, Kurilla Realty, D&H Docks, Walleye Dan Guide Service, Timberwood Chruch, ReMax Lakes Area Realty, Frandsen Bank, Magnuson Hotel, Nisswa Dock, Liquid Reflektions, Nisswa Building Supply, Subway, Anytime Fitness, Waseau Homes, Micronet, Belle Cheveax Salon & Spa, Grandview Resort, Zorbaz, Bar Harbor, Cowboy s, plus many other unique retail/food/specialty shops within the town of Nisswa. 4

5 { Features } Parcel # Lot Size 2014 Taxes Legal Description G Ac $11, Pt of NE1/4 of NW1/4 lying S of N 700 ft thereof exc St Hwy ROW exc pt to MP&L Co A Ac $ NW1/4 of NW1/4 exc pt to Gull Lake Sports as recorded in Bk 273 of Deeds pg 240 & exc pt to MP & L in Bk 217 Deeds pg 43 & excpt to Anderson in Bk 156 Deeds pg AA Ac $ E 380 ft of SWq/4 of NW1/4 exc N 660 ft thereof A Ac $3, N 660 ft of SE1/4 of NW1/4 & N 660 ft of E 380 ft of SW1/4 of NW1/4 subj to esmnts B Ac $1, SE1/4 of NW1/4 exc N 660 ft thereof A Ac $1, NE1/4 of SW1/4 exc State Hwy ROW exc S 770 ft thereof B Ac $1, S 770 ft of NE1/4 of SW1/4 exc Hwy ROW A Ac $2, SE1/4 of SW1/4 exc Hwy & exc S 33 ft * See Page 8 for Section map with corresponding PID # s. The divisible Land Use Areas shown on Page 6 will be used in the sale of the property. 5

6 { Divisible Areas, Land Use & Pricing } Proposed Land Use (Note: Land uses and road location indicated have not yet been approved by the City of Nisswa ) HIGHWAY BUSINESS 30,000 SF MIN LOT SIZE URBAN RESIDENTIAL 20,000 SF MIN LOT SIZE OPEN SPACE RES. 100,000 SF MIN LOT SIZE Original Sale Tract Size Price Price $ / SF A 463,000 SF $700,000 $550,000 $1.07 B 290,500 SF $300,000 $250,000 $0.86 C 365,000 SF $500,000 $450,000 $1.10 D 197,000 SF $250,000 $250,000 $1.27 E 124,000 SF $200,000 $200,000 $1.61 F 1,280,000 SF $300,000 $250,000 $0.20 G 812,400 SF $200,000 $200,000 $0.25 H 800,000 SF $200,000 $200,000 $0.25 Green Space $100,000 NA TOTAL 5,845,752 SF $2,750,000 $2,350,000 6

7 { Survey } 7

8 { Section Map } 8

9 { Section Aerial } A B C * Access points to the property are shown in the yellow A, B & C notated circles. 9

10 { Aerial Map } N Northland Center Nisswa Marine Nisswa Building Supply Magnuson Hotel Nisswa Lake Frandsen Bank Commercial & Residential Acreage Wendy s Schaefer s Foods Glynlyon Holiday Spirits of Nisswa Gull Dam Brewery D&H Docks Kurilla Realty Walleye Dan Guide Service Timberwood Church 10

11 { Aerial Map } N B A F C H G E D Original Sale Tract Size Price Price $ / SF A 463,000 SF $700,000 $550,000 $1.07 B 290,500 SF $300,000 $250,000 $0.86 C 365,000 SF $500,000 $450,000 $1.10 D 197,000 SF $250,000 $250,000 $1.27 E 124,000 SF $200,000 $200,000 $1.61 F 1,280,000 SF $300,000 $250,000 $0.20 G 812,400 SF $200,000 $200,000 $0.25 H 800,000 SF $200,000 $200,000 $0.25 Green Space $100,000 NA TOTAL 5,845,752 SF $2,750,000 $2,350,000 11

12 { Zoning Map } HB - Highway Business and UR - Urban Residential 3 12

13 { Traffic Counts } 2007 Counts from MNDOT Nisswa Traffic Counts: 19,800 on Hwy 371 & 5,100 on CR 13 / CR77 13

14 { Location Map } North South 14

15 { Demographics } Trade Area 2013 Population (Includes the following counties): Crow Wing County 64,181 Cass County 29,349 Total Trade Area Population 93, Population: Nisswa 4,726 Brainerd 30,309 Baxter 8,041 Estimated Summer Population: Brainerd/Baxter 200,000+ Projected Population Growth Change : Crow Wing County 0.35% Nisswa 0.59% Households in 2013: Crow Wing County 12,316 Nisswa 2, Median Household Income: Crow Wing County $41,636 Nisswa $55,037 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. 15

16 { 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 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 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) Sundshine/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) 16

17 { 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 representatives, we know the seller 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. 17

18 { Agency Disclosure } 18

19 { 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 . Rod Osterloh Chris Close, CCIM Kevin Close Nate Grotzke, CCIM Tim Miller Jody Osterloh cell osterloh@closeconverse.com cell chris@closeconverse.com cell kevin@closeconverse.com cell nate@closeconverse.com cell tim@closeconverse.com cell, jody@closeconverse.com 19