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    Established Restaurant and Bar on Highway Title is generated by Realmo AI

    10480 State Highway 24 NW, Annandale, MN 55302

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    For Sale
    $679,900

    Turn-key restaurant and bar with high traffic and loyal customers.

    Type:Commercial/Industrial
    Lot size:
    1.63 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    56
    Last Refresh:
    Apr 6 at 2:22 am

    Property Features for 10480 State Highway 24 NW

    General Information

    Standard status
    Active
    Lot size
    1.63 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Gary C Dagner
    Gary C Dagner

    Listing agent Gary C Dagner

    Listing office Oak Realty LLP

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Oak Realty LLP

    HighLights

    • Prime location on Highway 24 with high traffic and proximity to area lakes.
    • Turn‑key restaurant and bar with established reputation and loyal customer base.
    • Versatile interior with multiple dining areas, nine TVs, and ample seating.
    • Impressive 110' video wall in the main dining area.
    • Spacious back deck with seating for approximately 25 guests.
    • Ample on‑site parking for customer convenience.

    Overview

    This established restaurant and bar has been a local hotspot for years, attracting a loyal crowd under various names and owners. The interior features a seamless connection between the bar and multiple dining areas, creating a versatile and welcoming space. The restaurant is equipped with nine TVs, nine high-top tables, nine booths, and nine large tables. The bar area includes 15 barstools. A 110' video wall is a highlight of the main dining area. The property also features a spacious back deck with seating for approximately 25 guests, offering an outdoor dining option. Ample on-site parking is available. Located on Highway 24, the property benefits from high traffic counts and proximity to several area lakes. This is a turn-key opportunity for a new owner.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Real Estate Agency Accounting Firm Storage Facility HVAC Service Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Annandale
    County
    Wright
    State
    Minnesota
    Longitude
    -94.090516
    Latitude
    45.303919

    Nearby Similar for Sale

    • $659,900

      Established Restaurant & Bar on Highway

      Turn-key restaurant and bar with high visibility and ample parking.
      10480 State Highway 24 NW, Annandale, MN 55302
      View Details
    • $1,395,847
      5,323 SF

      Retail Property in Annandale, MN

      Retail property available for sale in Annandale, Minnesota.
      211 Elm St W, Annandale, MN
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Turn-key restaurant and bar with high traffic and loyal customers.
    Where is this bar & pub located?
    The property is located at 10480 State Highway 24 NW Annandale, MN.
    What is the asking price?
    The asking price for this property is $679,900.
    What are key features of this property?
    This property features: Prime location on Highway 24 with high traffic and proximity to area lakes.; Turn‑key restaurant and bar with established reputation and loyal customer base.; Versatile interior with multiple dining areas, nine TVs, and ample seating.
    (320) 274-5737
    We can help!
    Listing Contact
    Gary C Dagner
    Gary C Dagner
    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.

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