Established Bar and Grill
For Sale
Contact for pricing
17646 Central Ave NE, Ham Lake, MN 55304
Turnkey bar and grill with multiple revenue streams for sale.
Property Size8,064 SF
Price / SF$272.82
Days on Market111
Property Features for 17646 Central Ave NE
General Information
Standard status
Active
Size
8,064 SF
Property subtype
RETAIL
Listing Agency:
eXp Realty
(763) 286-7573
Listed By:
Jon D. Jondahl
(763) 286-7573
Source:
Moodyscre
Added: May 7
Changed: Aug 19
Last Checked: Aug 25 at 12:12PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a well-established bar and grill located in a high-traffic area of Ham Lake. Maxx’s Bar & Grill features a strong local customer base and a full kitchen that offers a wide variety of entrees, including breakfast on weekends. The 8,064-square-foot property includes a large bar and multiple dining areas designed for efficient, high-capacity service. The property also features two outdoor patios, a dedicated stage, and a dance floor for live entertainment. Ample onsite parking is available. This turnkey operation provides multiple revenue streams through food, beverage, gaming, and weekly events. The property benefits from excellent visibility, stable performance, and a recognizable brand, making it an attractive investment for operators seeking a proven hospitality asset.
Key Highlights
- Turnkey bar and grill with established brand and strong local customer base.
- Multiple revenue streams: food, beverage, gaming, and weekly events.
- High‑traffic location in Ham Lake with excellent visibility.
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
$84,370
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
3.84%
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%
$1,687,400
$1.7M
Cap Rate 7%
$1,205,286
$1.2M
Cap Rate 9%
$937,444
$937.4K
Market Conditions
NOI Build-Up for 8,064 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
$121.0K $15.00/SF
− Vacancy
−$8.5K −$1.05/SF
EGI
$112.5K $13.95/SF
− OpEx
−$28.1K −$3.49/SF
NOI
$84.4K $10.46/SF
Area
Anoka County, MN
Vacancy
7.00%
Lease Rate
$15.00 /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%
$1,687,400
Cap Rate 7%
$1,205,286
Cap Rate 9%
$937,444
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.05M – $1.41M
NOI $84,370 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,795 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55304, MN
49,128
Population
17,318
Households
2.8
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
68.6 sq mi
ZIP Area
716
Density / Sq Mi
$127,145
Median Household Income
$60,835
Median Earnings
$1,628
Median Rent
$402,600
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 - Turnkey bar and grill with multiple revenue streams for sale.
Where is this bar & pub located?
The property is located at 17646 Central Ave NE Ham Lake, MN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Turnkey bar and grill with established brand and strong local customer base.; Multiple revenue streams: food, beverage, gaming, and weekly events.; High‑traffic location in Ham Lake with excellent visibility.
