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    325 Summit Avenue Center City, MN 55012

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    Claim this Listing
    New
    For Sale
    $875,000

    Commercial - Center City, MN

    Lot size:
    0.10 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 18 at 4:06 am

    Property Features for 325 Summit Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Residential-Multi-Family
    Bedrooms
    2
    Rooms
    Bedroom 1, Bedroom 2
    Parking features
    Guest, Parking Lot
    Exterior features
    Vinyl
    Appliances
    Dryer, Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    120017100
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    3086

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1880
    Flooring type
    Carpet, Engineered Wood, Linoleum, Tile, Vinyl
    Building materials
    Frame
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Ashley Ersfeld

    Listing agent Ashley Ersfeld

    Listing office Bridge Realty 1101 E 78th Street, Bloomington, MN

    Listing date Apr 16, 2026

    MLS# 7056644 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Bar and Grill Opportunity

    This commercial property presents a prime opportunity with high exposure along Highway 8, benefiting from substantial daily traffic and visibility. The property features a fully operational bar and restaurant, equipped with a complete kitchen, stocked bar, furniture, fixtures, and equipment, facilitating immediate revenue generation. The established business benefits from a loyal customer base and a welcoming atmosphere. Situated along the lakefront, the property offers highway frontage and shoreline views. A nearby public dock provides access for boaters seeking food and beverages. Recent updates and improvements have been made throughout the property. It includes a renovated 2-bedroom, 1-bath upper-level apartment with a private exterior entrance, suitable for owner occupancy or rental income. The lower level features a prep space with updated appliances, offering operational flexibility. Located in the Chicago Lakes Area, this property represents a chance to own a turnkey business in a high-visibility, high-traffic location. The lot size is approximately 0.102 acres. The zoning is Residential-Multi-Family.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tony's Bar and Grill ... Bar & Pub Tony's Bar and Grill Bar & Pub Francis Animal and Pest ... Garden Center

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Tony's Bar and Grill Center City — 325 Summit Ave, Center City, MN 55012
    • Pizza Pub — Center City, MN 55012
    • Jake's on the Lakes — 300 Andrews Ave, Center City, MN 55012

    Location Insight

    • Map
    • Local Demand
    City
    Center City
    County
    Chisago
    State
    Minnesota
    Longitude
    -92.816354
    Latitude
    45.391588

    FAQs

    What type of property is this?
    Bar & Pub - Profitable bar and grill with apartment in Center City, MN.
    Where is this bar & pub located?
    The property is located at 325 Summit Avenue Center City, MN.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Turnkey bar and restaurant ready for immediate operation with all furniture, fixtures, and equipment included.; Exceptional highway frontage on Highway 8 with high daily traffic and visibility.; Renovated 2‑bedroom, 1‑bath upper‑level apartment with private entrance for owner occupancy or rental income.
    (952) 368-0021
    We can help!
    Listing Contact
    Ashley Ersfeld
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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