Downtown Bar with Outdoor
New
For Sale
$1,000,000
124 1st Avenue W, Shakopee, MN 55379
Operating bar with a second gathering space, partial basement, walk-in coolers, and included equipment and business.
Property Size3,927 SF
Price / SF$254.65
Days on Market7
Property Features for 124 1st Avenue W
General Information
Standard status
Active
Size
3,927 SF
Property subtype
Commercial
Zoning
Business/Commercial
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$8,559
Building Details
Building Size
3,927 SF
Year Built
1900
Buildings
1
Units
1
Listing Agency:
Coldwell Banker Realty - Southwest Regional
Listed By:
Chris A Johnson
(612) 309-5827
Source:
Getyoumoved
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:24PM
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 Coldwell Banker Realty - Southwest Regional
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Investment Insights
Based on property information with market context.
This downtown Shakopee bar includes 3,927 square feet, an outdoor patio, and a second bar used for private events and gatherings. Interior features include a custom mahogany bar and woodwork, while the partial basement contains walk-in coolers. The sale includes the building, land, equipment, and business.
The property at 124 1st Avenue W is near the river, ValleyFair, Mystic Amphitheater, and Canterbury Downs. A large parking lot is included with ownership.
Building updates include a roof installed in 2020, windows from 2020, rooftop HVAC installed in 2021, and a patio completed in 2021. The building dates to 1900 and is zoned Business/Commercial.
The property at 124 1st Avenue W is near the river, ValleyFair, Mystic Amphitheater, and Canterbury Downs. A large parking lot is included with ownership.
Building updates include a roof installed in 2020, windows from 2020, rooftop HVAC installed in 2021, and a patio completed in 2021. The building dates to 1900 and is zoned Business/Commercial.
Key Highlights
- 3,927‑square‑foot bar property with an outdoor patio and second bar
- Sale includes building, land, equipment, and business
- Large parking lot included with ownership
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,755
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,100
$1.2M
Cap Rate 7%
$867,929
$867.9K
Cap Rate 9%
$675,056
$675.1K
Market Conditions
NOI Build-Up for 3,927 SF
Gross rent
$84.8K $21.60/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$81.0K $20.63/SF
− OpEx
−$20.3K −$5.16/SF
NOI
$60.8K $15.47/SF
Area
Scott County, MN
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,100
Cap Rate 7%
$867,929
Cap Rate 9%
$675,056
Alternative Uses
Best Use
Specialty Retail
$867.9K
$759.4K – $1.01M
NOI $60,755 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.9K
$819.8K – $1.09M
NOI $65,583 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Holiday Station Store
Shops & Services
11,063 visits/mo
0.4 miles
Domino's Pizza
Dining
2,136 visits/mo
0.2 miles
Papa John's Pizza
Dining
1,040 visits/mo
0.2 miles
Demographics for 55379, MN
48,254
Population
18,028
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
93%
High-School Grad
57.9 sq mi
ZIP Area
833
Density / Sq Mi
$109,824
Median Household Income
$55,390
Median Earnings
$1,540
Median Rent
$366,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- BSG Distlling — 800 1st Ave W, Shakopee, MN 55379
- The Shakopee Eagles Club, 4120 — 298-200 2nd Ave W, Shakopee, MN 55379
- Babes Place — 124 Holmes St S, Shakopee, MN 55379
- Pullman Club — 124 1st Ave W, Shakopee, MN 55379
- Arnie's Bar — 122 1st Ave E, Shakopee, MN 55379
Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating bar with a second gathering space, partial basement, walk-in coolers, and included equipment and business.
Where is this bar & pub located?
The property is located at 124 1st Avenue W Shakopee, MN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,927‑square‑foot bar property with an outdoor patio and second bar; Sale includes building, land, equipment, and business; Large parking lot included with ownership
