521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

4461 & 4469 Main Street (CR 11), Pequot Lakes, MN 56472

OFFICE BUILDING INVESTMENT

Table of Contents

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

FeaturesFloor PlanPhotosAerial PhotoSection AerialSection MapZoning MapZoning DescriptionTraffic CountsLocation MapDemographicsThank YouAgency DisclosureContact

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Page

Main Street (CR 11), Pequot Lakes, MN

3

Office Building Investment.

Features

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Excellent opportunity to invest in the Pequot Professional Center located along Main Street (CR 11) in Pequot Lakes. Approximate-ly 2,664 square feet is leased by three tenants leaving 888 square feet available for a new tenant. Priced at an approximate 12% cap rate with the opportunity to increase cash flow by leasing the vacant unit.

Address: 4461 & 4469 Main Street (CR 11), Pequot Lakes, MN 56472

Directions: From stoplight intersection in downtown Pequot Lakes - East on Main Street (CR 11) two blocks - Property is the SE corner of Main Street (CR 11) and Washington Ave

Lot Size: .14 Acres (6,000 sq. ft.)

Lot Dimensions: 60’ x 100’

Building Size: 3,552 sq. ft. Total + 576 sq. ft. Basement Suite 4461A: 1,124 sq. ft. (Edward Jones) Suite 4461B: 888 sq. ft. (Vacant) AVAILABLE Suite 4461C: 700 sq. ft. (First American Title) Suite 4469: 840 sq. ft. (HRA)

Purchase Price: $175,000

Cap Rate: Approx. 12%

Annual Cash Flow: Building is 75% occupied with an approximate Annual Cash Flow of $21,000. Opportunity to increase cash flow by leasing the vacant unit.

Lease Rate: Suite 4461B: $750/Month Gross - Includes Utilities (888 sq. ft.)

Continued on next page.

4

Features

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

2020 Real Estate Taxes: $5,200 (Including $15 in Solid Waste/Recycling Fee)

Water & Sewer: City

Heating: Natural Gas Forced Air

Cooling: Central Air - 4 Electric Ground Units

Electric: 200 Amp, Single Phase

Lighting: Fluorescent

Year Built: 2000

Construction: Wood Frame

Foundation: Concrete Block

Roof: Asphalt Shingles

Exterior: Manufactured Log Siding

Ceiling Height: Vaulted 8’ - 12’

Bathrooms: 4 Total (1 per Suite) Parking: 8 On-Street Paved Parking Spaces (Washington Ave) and 6 Paved Parking Spaces to the east of the building, but not owned by the building

Frontage: 60’ along Main Street (CR 11), 100’ along S Washington Ave and 100’ of visibility along Old Hwy 371/Rassmussen Rd (CR 112)

Zoning: Downtown Mixed Use

PID#: 29101009 & 29101010

Legacy PID#: 29102005001C009 & 29102005001B009

Legal Description: W 30 ft of Lot 1 Block 5 and E 30 ft of W 60 ft of Lot 1 Block 5, Cole’s Plat of Pequot

Continued on next page.

5

Features

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Tenants: Edward Jones, HRA and First American Title

Neighboring Businesses: Located in the heart of downtown Pequot Lakes, neighboring businesses include the American Legion, the Jackpine Center, Sweet Life Bakery, Wild Daisy, Expression Shoes, Pfeiffer Drug, Fun Sisters, Lakes Latte, Lucky’s Tavern, Latte Da Gifts, Lakes Dental, Leslie’s, the Country Corner Mall, Dollar Tree, Dollar General, Wells Fargo, Super America, plus numerous others.

Financials: Detailed Rent Roll and Financials are available upon request

6

Floor Plan

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

7

Photos

West Side of Building

East Side of Building

Suite 4461A - Reception

North Side of Building

Suite 4461A - Edward Jones

Suite 4461A - Reception

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

8

Photos

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Suite 4461A - Office

Suite 4461A - Office

Suite 4461A - Basement Storage

Suite 4461A - Office

Suite 4461A - Break Room

Suite 4461A - Basement 3’ Storage

9

Photos

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Suite 4461B - AVAILABLE

Suite 4461B - Waiting Room / Work Area

Suite 4461B - Office

Suite 4461B - Reception

Suite 4461B - Waiting Room / Work Area

Suite 4461B - Office

10

Photos

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Suite 4461C - First American Title

Suite 4461C - Reception

Suite 4461C - Conference Room

Suite 4461C - Reception

Suite 4461C - Office

Suite 4461C - Closet

11

Photos

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Suite 4469 - HRA

Suite 4469 - Reception

Suite 4469 - Break Room

Suite 4469 - Reception

Suite 4469 - File Room

Suite 4469 - Office

12

Aerial Photo

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

PequotProfessional

CenterPequotHigh School

Johnson Ins.

SuperValu

UBC

Gloria Dei Church

Fire Hall Ctr

Dairy Queen

City Hall / Police / Fire

SA Express

Dollar General

Lakes State Bank

Lonesome Cottage

Church

Super America

Dollar Tree

Chamber

Pub & Grill

Museum IdealBusiness Ctr

The Pines

13

Aerial Photo

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

PequotProfessional

Center

USPS

Johnson Ins.

Fun Sisters

UBC

American Legion

Lakes Latte

Fire Hall Ctr

PequotLakes Dental

City Hall / Police / Fire

Boardwalk Scoops

Dollar General

Lakes State Bank

Lucky’s Tavern

Church

Super America

Dollar Tree

Chamber

Pub & Grill

Museum

Pfeiffer Drug

Salon Couture

Sweet LifeExpression

Shoes

Pequot Eye CtrTaekwondo

St Alice Church

CPA

Barber Shop

Scandia North CondosTobacco

LesliesCountry

Corner MallWild Daisy

Wells Fargo

Joe’s Pizza

Wild HairSelect Therapy

Thurlow HardwareWeise Crafts

Twin PinesFaith Boost

Merritt JewelersInsuranceA little Joy

Latte Da Gifts

Lakes Dental

Ameriprise

14

Section Aerial

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

15

Section Map

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

16

Zoning Map

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

DMU - Downtown Mixed Use

17

Zoning Description

Section 17-5.12 DOWNTOWN MIXED USE (DMU)

1. Purpose and 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. Infrastructure must be in place to provide on-street parking and walkways as well as connection to municipal water and sani-tary sewer utilities. Downtown Mixed-Use zones should be clustered to provide the maximum amount of interaction and accessibility between the different establishments.

2. Compatibility: The Downtown Mixed-Use zone is most compatible with and should be estab-lished next to the Urban Residential zone, but it also may be adjacent to the Transition Residen-tial, Commercial and Light Industrial Zones.

3. Lot and Use Requirements (DMU).

4. Performance Standards. The following performance standards apply to all development in this zone:A. Parking. Commercial developments within the DMU District are exempt from the parking standards of Section 7.10. Residential development within the DMU District is not exempt. De-velopments shall minimize the appearance of parking areas.(1) Location. Parking and vehicle drives shall be located away from building entrances and street corners, and not between a building entrance and the street. Surface parking shall be oriented behind or to the side of a building when possible.

Continued on next page.

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

18

Zoning Description

(2) Landscape Buffering. Suitable trees and shrubs shall be planted between parking lots and all adjacent sidewalks and buildings. (3) Maximum Parking Ratio. Surface parking shall not exceed 125% of the minimum parking requirement for the subject land use(s).B. Pedestrian Amenities. Proposed developments shall provide for safe and comfortable side-walks, paths, and resting areas for pedestrians. Sidewalks and paths shall connect the develop-ment to adjacent land uses and provide connections through the development to the public street right-of-way.

C. Lighting. All building entrances, pathways and other pedestrian areas shall be lit to two-foot candles with pedestrian-scale lighting including wall mounted, sidewalk lamps, bollards, or land-scape up-lighting.

D. Fences. Fences not exceeding 48 inches may be constructed between the dwelling façade and the front property line. Dwelling façade shall not include decks, entry ways, porches, and other building projections from the principal face of the dwelling. Fences not exceeding 72 inch-es in height may be constructed from the dwelling façade to the side yard and to the rear yard of a property. Fencing shall only be constructed closer than 10 feet from the surface of a public road with the permission of the Planning Commission and in all cases not within the public right-of-way. Materials shall consist of usual fencing materials with posts and fence of metal, wood, concrete, brick or smooth wire. Barbed or electrified wire is allowed only with the permission of the Planning Commission.

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

19

2015 & 2019 Counts from MNDOT Traffic Counts

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Pequot Lakes Traffic Counts: 5,200 - 5,900 on Main Street (CR 11), 1,700 on Old Hwy

371 (CR 112) and 3,000 -3,850 on Patriot Ave (former Hwy 371)

20

Location Map

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

21

Figures from STDB, CCIM Demographics

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Trade Area 2018 Population (Includes the following counties): Crow Wing County 66,604 Cass County 30,715 Total Trade Area Population 97,319

2018 Population: Brainerd 31,100 Baxter 8,295 Pequot Lakes 8,038 Estimated Summer Population: Brainerd/Baxter 200,000+

Projected Population Growth Change 2018-2023: Crow Wing County 0.76% Pequot Lakes 0.93%

Households in 2018: Crow Wing County 27,662 Pequot Lakes 3,287

2018 Median Household Income: Crow Wing County $52,621 Pequot Lakes $52,988

Crow Wing County Retail Sales in 2012: $1,124,967,000

Leading Employers in Crow Wing County: Anderson Brothers Ideal System Solutions Ascensus Landis Gyr Atek Industries Madden’s Resort Bang Printing Mills Automotive Bethany Good Samaritan Minnesota Care Brainerd Public Utilities Nortech Systems Brainerd School District Northstar Plating Breezy Point Resort Pequot Lakes School District Centracare Health Ruttger’s Bay Lake Resort Central Lakes College TDS Telecom Chambermaster Walmart City of Brainerd Woodland Good Samaritan Clow Stamping Costco Cragun’s Resort Crosby Ironton School District Crow Wing County Crow Wing County Landfill Crow Wing Power Cub Foods/Super Valu Cuyuna Regional Medical Center Dan’s Prize Essentia Health Good Neighbor Home Health Grand View Lodge Continued on next page.

22

Demographics

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Area Businesses: (To see a list of additional businesses, please go to www.explorebrainerdlakes.com) Financial Institutions: 16+ (multiple locations not counted)

Churches: 30+

Schools: 15+

Golf Courses: 27+

Resorts:Bay Colony InnBreezy Point ResortCragunsFritz’s ResortGrand View LodgeGull Lake ResortIzaty’sKavanaugh’sLost Lake LodgeMaddensQuarterdeckRuttger’s Bay Lake LodgeSullivansPlus numerous others Major Retailers:AldiAnytime FitnessAshley FurnitureAuto Zone Best BuyBrother’s MotorsportsCashwise Liquor (2)Christmas PointCostcoCub Foods (2)Dick’s Sporting GoodsDiscount TireDondelingerDunham’s SportsEast Brainerd Mall (17 Retailers)Fleet Farm Home DepotJiffy LubeKohl’sMenardsOffice MaxPetSmart

Major Retailers Continued:Planet FitnessSears HometownSuper OneSuper Wal-MartTakedown GymTargetThe Power LodgeTJ MaxxUlta BeautyWalgreensWestgate Mall(27 Retailers)Westside Liquor

Restaurants/Fast Food:218 Local371 Diner612 StationAntler’sApplebee’sArby’sBar HarborBaxter’sBilly’sBlack Bear Lodge & SaloonBoomer PizzaBoulder Tap HouseBreezy Point MarinaBrick House PizzaBuffalo Wild WingsBurger KingBurritos CaliforniaCaribou Coffee (3)CharCherry BerryChina BuffetChina GardenChipotleCold Stone CreameryCowboy’sCragun’s Legacy GrillCruCulver’sDairy Queen (3)Diamond HouseDomino’s PizzaEinstein BagelEl Tequila

Restaurants/Fast Food Continued:Ernie’s Firehouse SubsFive GuysFour Seas Grizzly’s Grill & SaloonHardee’sHunt ‘N ShackJack’s HouseJake’sJimmy John’sKFC Little Caesar’sLucky’sMadden’s Classic GrillManhattan BeachMaucieri’sMcDonalds (3)Moonlite BayNorthern Cowboy’sNorthwinds GrillePapa Murphy’s PizzaPerkinsPine PeaksPizza HutPizza RanchPoncho & Lefty’sPrairie BayQuarterdeckRafferty’s Pizza (4)Riverside InnRuttger’sSakuraSawmill InnSenor PatronSherwood ForestStarbucks (2)Subway (4)Taco BellTaco John’sThe BarnThe CommanderThe Pines at GrandviewThe Woods TimberjackWendy’s (2)Ye Ole WharfZorbaz (2)

23

Thank You

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

Thank you for considering this Close - Converse opportunity

Close - Converse is pleased to present this real estate opportunity for your review. It is our in-tention 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 in-formation 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 advi-sor 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 cov-ers 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 Rela-tionships” by signing, dating and returning it to us.

24

Agency Disclosure

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

25

Contact

521 Charles Street, PO Box 327, Brainerd, MN 56401 | 218-828-3334 | www.closeconverse.com

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 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.

Main Street (CR 11), Pequot Lakes, MN

521 Charles Street

Suite 201

Brainerd, MN 56401

Office Location

PO Box 327

Brainerd, MN 56401

Mailing Address

218-828-3334

Phone

218-828-4330

Fax

Chris Close, CCIM C: 218-831-7510 chris@closeconverse.com

Tim Miller, CCIM C: 218-838-8772 tim@closeconverse.com

Nate Grotzke, CCIM C: 218-838-1000 nate@closeconverse.com

Agents

www.CloseConverse.com

Website