Stillwater Tavern and Pub
For Sale
Contact for pricing
145 New England Pl, Stillwater, MN 55082
Operating tavern and real estate for sale in Stillwater.
Property Size4,858 SF
Price / SF$308.77
Days on Market194
Property Features for 145 New England Pl
General Information
Standard status
Active
Size
4,858 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
2004
Tenancy
Single
Listing Agency:
HSC Business Brokers
Listed By:
Dan McGuire · License #MN
Source:
Crexi
Added: Jan 29
Changed: Aug 7
Last Checked: Aug 11 at 11:41AM
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 HSC Business Brokers
Investment Insights
Based on property information with market context.
Patriots Tavern is a hospitality opportunity located in Stillwater's dining scene. This New England–style tavern and pub offers a warm, inviting atmosphere with classic American comfort food. Known for its welcoming service and relaxed neighborhood feel, Patriots Tavern is a gathering place for local patrons and visitors. The restaurant emphasizes fresh ingredients, generous portions, and a diverse menu. Signature offerings include wood-fired pizzas, handcrafted burgers, seafood selections, and a rotating lineup of craft beers. The offering includes both the operating business and the underlying real estate. The business benefits from community ties, positive brand recognition, and a proven operating model, with upside through expanded events, catering, private parties, and enhanced service offerings. The property size is 4858 square feet.
Key Highlights
- Operating business and underlying real estate included in the sale.
- Established business with strong community ties and positive brand recognition.
- Proven operating model with potential for growth through expanded services.
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
$73,584
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
4.91%
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%
$1,471,680
$1.5M
Cap Rate 7%
$1,051,200
$1.1M
Cap Rate 9%
$817,600
$817.6K
Market Conditions
NOI Build-Up for 4,858 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
$104.9K $21.60/SF
− Vacancy
−$6.8K −$1.40/SF
EGI
$98.1K $20.20/SF
− OpEx
−$24.5K −$5.05/SF
NOI
$73.6K $15.15/SF
Area
Washington County, MN
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,471,680
Cap Rate 7%
$1,051,200
Cap Rate 9%
$817,600
Alternative Uses
Best Use
Specialty Retail
$1.05M
$919.8K – $1.23M
NOI $73,584 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,458 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55082, MN
36,441
Population
15,493
Households
2.4
Avg Household Size
46
Median Age
53%
College-Educated
97%
High-School Grad
79.2 sq mi
ZIP Area
460
Density / Sq Mi
$117,538
Median Household Income
$58,615
Median Earnings
$1,439
Median Rent
$459,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating tavern and real estate for sale in Stillwater.
Where is this bar & pub located?
The property is located at 145 New England Pl Stillwater, MN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Operating business and underlying real estate included in the sale.; Established business with strong community ties and positive brand recognition.; Proven operating model with potential for growth through expanded services.
