Building Details

Building Size 6,802 SF

Year Built 2003

Units 1

Listing Agency: Close-Converse Commercial Prop

Listed By: Chris Close · License #20286846 Show Phone

Source: Getyoumoved

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 3:38PM

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Investment Insights

Based on property information with market context.

This 6,802-square-foot restaurant, built in 2003, includes several dining areas, a bar with seating, and a commercial kitchen equipped with a pizza oven. The property is zoned Business/Commercial.

Key Highlights

• 6,802‑square‑foot restaurant building
• Multiple dining areas and a bar with additional seating
• Commercial kitchen includes a pizza oven

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,540

Cap Rate

6.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,630,800 $1.6M

Cap Rate 7%

$1,164,857 $1.2M

Cap Rate 9%

$906,000 $906.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,802 SF

Gross rent

$115.9K $17.04/SF

− Vacancy

−$7.2K −$1.06/SF

EGI

$108.7K $15.98/SF

− OpEx

−$27.2K −$4.00/SF

NOI

$81.5K $11.99/SF

Area

Crow Wing County, MN

Vacancy

6.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,630,800

Cap Rate 7%

$1,164,857

Cap Rate 9%

$906,000

Alternative Uses

Best Use

Specialty Retail

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,540 @ 7.0% cap · market cap 6.04%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $101,083 @ 7.0% cap · market cap 7.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Baia Della Restaurant Baia Della Italian ... Take-out & Catering

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Locksmith Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

323

Businesses Nearby

260k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 50% Home Improvements & Furnishings 19% Shops & Services 15% Groceries 10%

Menards Home Improvements & Furnishings

46,990 visits/mo 0.1 miles

Aldi Groceries

25,236 visits/mo 0.5 miles

Culver's Dining

25,162 visits/mo 0.1 miles

Holiday Station Store Shops & Services

17,774 visits/mo 0.1 miles

Arby's Dining

17,460 visits/mo 0.1 miles

Demographics for 56401, MN

30,632

Population

16,038

Households

1.9

Avg Household Size

40

Median Age

24%

College-Educated

94%

High-School Grad

322.6 sq mi

ZIP Area

95

Density / Sq Mi

$70,269

Median Household Income

$40,172

Median Earnings

$918

Median Rent

$237,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Multiple dining areas, bar seating, and a fully equipped kitchen with a pizza oven support restaurant operations.

Where is this conventional restaurant located?

The property is located at 15115 Edgewood Drive Brainerd, MN.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 6,802‑square‑foot restaurant building; Multiple dining areas and a bar with additional seating; Commercial kitchen includes a pizza oven