Remove and discard the stems and root of the beet, leaving 1-inch attached. Wrap the beet in aluminum foil and place in a small baking pan. Bake for 1 hour to 1 hour 10 minutes or until the beet is fork-tender. Cool completely.
Remove the beet skin under running water. Coarsely chop. Combine the chopped beet and all remaining ingredients in a food processor and pulse to combine. Process until smooth.