Two-Level Restaurant Building with
For Sale
$750,000
100 Sibley Street, Hastings, MN 55033
Two full kitchens on separate floors support restaurant, catering, or retail use, with parking across the street.
Property Size6,000 SF
Price / SF$125
Days on Market162
Property Features for 100 Sibley Street
General Information
Standard status
Active
Size
6,000 SF
Additional Details
Flexible Term
Yes
Building Details
Year Built
1900
Stories
2
Listing Agency:
eXp Commercial
(612) 819-8285
Listed By:
Scott Naasz · License #40922534
(612) 819-8285
Source:
Expcommercial
Added: Mar 16
Changed: Aug 23
Last Checked: Aug 24 at 3:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Commercial
Investment Insights
Based on property information with market context.
This two-level restaurant building was originally constructed in 1900 and offers approximately 6,000 square feet that can be leased or purchased. The property features two full kitchens, one on each floor, supporting food service, catering operations, or retail concepts. The second floor includes additional dining or event space with scenic views of the Mississippi River Valley.
Ample parking is located directly across the street in a city-owned lot, providing convenient access for customers and staff. The offering includes a lease-to-own option with flexible terms.
The space is offered in a lease delivery condition described as “As-Is,” with specific landlord improvements prior to tenant occupancy. Planned work includes an upgraded lift from the first floor to the second floor (approved by a state inspector), new HVAC units for the first-floor space, new ceiling grid in the first-floor kitchen, exterior painting and related alley wall improvements, and ensuring walk-in coolers are in working condition upon tenant delivery. Additional landlord work is listed per city-approved permit drawings dated January 8, 2025.
Ample parking is located directly across the street in a city-owned lot, providing convenient access for customers and staff. The offering includes a lease-to-own option with flexible terms.
The space is offered in a lease delivery condition described as “As-Is,” with specific landlord improvements prior to tenant occupancy. Planned work includes an upgraded lift from the first floor to the second floor (approved by a state inspector), new HVAC units for the first-floor space, new ceiling grid in the first-floor kitchen, exterior painting and related alley wall improvements, and ensuring walk-in coolers are in working condition upon tenant delivery. Additional landlord work is listed per city-approved permit drawings dated January 8, 2025.
Key Highlights
- Two‑level restaurant building originally constructed in 1900 with approx. 6,000 SF available for lease or sale
- Two full kitchens—one on each floor—suited for restaurant, catering, or private events
- Second‑floor dining/event space with scenic views of the Mississippi River Valley
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,182
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,303,640
$1.3M
Cap Rate 7%
$931,171
$931.2K
Cap Rate 9%
$724,244
$724.2K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$97.2K $16.20/SF
− Vacancy
−$4.1K −$0.68/SF
EGI
$93.1K $15.52/SF
− OpEx
−$27.9K −$4.66/SF
NOI
$65.2K $10.86/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,303,640
Cap Rate 7%
$931,171
Cap Rate 9%
$724,244
Alternative Uses
Best Use
Specialty Retail
$1.11M
$973.0K – $1.30M
NOI $77,841 @ 7.0% cap · market cap 10.38%
Second Best
Industrial
$931.2K
$814.8K – $1.09M
NOI $65,182 @ 7.0% cap · market cap 8.69%
Theoretical Best
Healthcare Medical
$1.48M
$1.29M – $1.72M
NOI $103,356 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
295
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Green Mill Restaurant & Bar
Dining
295 visits/mo
0.5 miles
Demographics for 55033, MN
29,701
Population
11,884
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
144.3 sq mi
ZIP Area
206
Density / Sq Mi
$102,026
Median Household Income
$55,060
Median Earnings
$1,174
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two full kitchens on separate floors support restaurant, catering, or retail use, with parking across the street.
Where is this conventional restaurant located?
The property is located at 100 Sibley Street Hastings, MN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑level restaurant building originally constructed in 1900 with approx. 6,000 SF available for lease or sale; Two full kitchens—one on each floor—suited for restaurant, catering, or private events; Second‑floor dining/event space with scenic views of the Mississippi River Valley
