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    9563 Madison St Garrison, MN 56450

    For Sale
    $399,000

    Established Restaurant, Lakefront Apartment

    Property size:
    5,440 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional investment opportunity presents a well-established restaurant and ice cream shop ideally situated on Highway 169 in Garrison, Minnesota, directly across from Mille Lacs Lake. The Spotlite Cafe, boasting over 40 years of success, offers a diverse menu featuring made-from-scratch breakfast, lunch, and dinner options, including their renowned original pancake recipe. Recently expanded to include "The Ice Cream Spot," a delightful ice cream parlor and gift shop, the property also features a Mille Lacs Lake Gift Shop stocked with apparel and souvenirs. This thriving business benefits from high visibility and significant traffic volume due to its prime highway location. Adding to its appeal is a spacious upper-level apartment offering stunning views of Mille Lacs Lake. The building encompasses 5,440 square feet and sits on a 0.27-acre lot. This unique combination of a profitable, long-standing restaurant, a complementary ice cream and gift shop, and a desirable apartment presents a rare opportunity for a savvy investor seeking a turnkey operation with significant growth potential. The property is priced at $399,000.

    Property Features for 9563 Madison St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,440 SF
    Lot Size
    11,761 SF

    Building Details

    Year Built
    1980
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ice Cream Spot ... Ice Cream Shop Spotlite Cafe & Ice ... Family Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Auto Repair Shop Auto Parts Store Hotel & Motel Department Store Pharmacy Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Garrison
    County
    Crow Wing
    State
    Minnesota
    Longitude
    -93.82532
    Latitude
    46.29497

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    FAQs

    What type of property is this?
    Commercial real estate - Established Restaurant, Lakefront Apartment
    Where is this commercial real estate located?
    The property is located at 9563 Madison St Garrison, MN.
    What is the asking price?
    The asking price for this property is $399,000.
    (218) 828-3334
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    9563 Madison St Garrison, MN 56450
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    Realmo Value Estimation

    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.

    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.

    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
    9563 Madison St Garrison, MN 56450
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