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    4654 County Hwy 61 Moose Lake, MN 55767

    View on Map
    For Sale
    $1,450,000

    Commercial - Moose Lake, MN

    Lot size:
    3.37 Acres
    Added:
    Jan 14, 2025
    Days on Market:
    446
    Last Refresh:
    Apr 5 at 7:06 am

    Property Features for 4654 County Hwy 61

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Parking Lot
    Exterior features
    Brick/Stone, Cement Board, Metal, Steel Siding, Wood
    Standard status
    Active
    APN
    630223472
    Lot size
    3.37 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    9580

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Ductless

    Building Details

    Year built
    1969
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Block, Frame
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas A Jensen
    Thomas A Jensen

    Listing agent Thomas A Jensen

    Listing office United Country Real Estate Minnesota Properties 60519 State Highway 23, Finlayson, MN

    Listing date Jan 14, 2025

    MLS# 6649440 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

    Route 61 Lounge and Bowling

    The Route 61 Lounge and Bowling, formerly Gampers, is available for new ownership. This long-running business is known to locals and tourists for its food and drinks. The property features an 8-lane bowling alley with updated Qubica scoring and newer floors. The bowling area has seating for over 60 people. The front dining area offers 44+ seats, and a separate dining area provides an additional 53 seats, both with access to a full salad bar. The updated bar has seating for approximately 26 people and leads to an outdoor patio with seating for another 50+. A private event room accommodates 36+ people. The basement has been previously used as a special event room with bathrooms. Located one mile south of Moose Lake on Hwy 61, the property benefits from a traffic count between 2,950 to 3,350 per day in 2020. The location is across the road from a paved bike trail, snowmobile trail, and access for an ATV/UTV trail system. The property is situated on a 3.37-acre lot and offers growth potential for new owners.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Suggested Use

    Real Estate Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Moose Lake
    County
    Carlton
    State
    Minnesota
    Longitude
    -92.7836259
    Latitude
    46.4362557

    Nearby Similar for Sale

    • $1,450,000

      Route 61 Lounge and Bowling

      Established bowling alley, lounge, and restaurant on Highway 61.
      4654 County Hwy 61, Moose Lake, MN 55767
      View Details
    • $545,000
      10,660 SF

      Moose Lake Industrial Property

      Industrial property available for sale in Moose Lake, Minnesota.
      621 Industrial Rd, Moose Lake, MN
      View Details

    FAQs

    What type of property is this?
    Bowling alley - Well-known bar and bowling alley with growth potential.
    Where is this bowling alley located?
    The property is located at 4654 County Hwy 61 Moose Lake, MN.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: Established business (Route 61 Lounge and Bowling) with a long‑standing reputation.; State‑of‑the‑art Quibica scoring system and newer floors in the 8‑lane bowling alley.; Multiple revenue streams: bowling leagues, open bowling, front dining (44+ seats), separate dining area (53 seats), updated bar (26 seats), outdoor patio (50+ seats), and private event room (36+ seats).
    (218) 380-4868
    We can help!
    Listing Contact
    Thomas A Jensen
    Thomas A Jensen
    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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