Waterfront Restaurant with Multi-Level
For Sale
Contact for pricing
1900-1924 Marshall St NE, Minneapolis, MN 55418
Fully built-out waterfront hospitality space with extensive indoor and outdoor seating, a commercial kitchen, and on-site parking.
Property Size15,000 SF
Price / SF$266.67
Days on Market64
Property Features for 1900-1924 Marshall St NE
General Information
Standard status
Active
Size
15,000 SF
Total Parking Spaces
80
Property subtype
RETAIL
Additional Details
Patio
Yes
Amenities
multi-level decks
panoramic river views
marquee sign
Listing Agency:
The Brookshire Company
(952) 960-4705
Listed By:
Royce Pavelka · License #40408653
(952) 960-4744
Source:
Moodyscre
Added: Jul 14
Changed: Sep 2
Last Checked: Sep 14 at 10:13AM
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 The Brookshire Company
Investment Insights
Based on property information with market context.
Fully built-out restaurant and entertainment property along the Mississippi River at 1900-1924 Marshall St NE in Minneapolis. This purpose-built hospitality location includes a spacious commercial kitchen, multiple bars with 18 tap lines, and expansive waterfront patios with multi-level decks that provide panoramic river views. The property offers over 950 indoor and outdoor seats to support high-volume service.
In addition to the indoor guest areas and outdoor dining platforms, the building includes a prominent marquee sign and 80 on-site parking spaces for guest access. With a total property size of 15,000 SF, it is designed to support restaurant and nightlife-style operations in a highly recognizable, destination setting.
In addition to the indoor guest areas and outdoor dining platforms, the building includes a prominent marquee sign and 80 on-site parking spaces for guest access. With a total property size of 15,000 SF, it is designed to support restaurant and nightlife-style operations in a highly recognizable, destination setting.
Key Highlights
- Over 950 indoor and outdoor seats
- Commercial kitchen with multi‑bar setup and 18 tap lines
- Expansive waterfront patios plus multi‑level decks
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
$203,391
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
5.08%
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%
$4,067,820
$4.1M
Cap Rate 7%
$2,905,586
$2.9M
Cap Rate 9%
$2,259,900
$2.3M
Market Conditions
NOI Build-Up for 15,000 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
$279.0K $18.60/SF
− Vacancy
−$7.8K −$0.52/SF
EGI
$271.2K $18.08/SF
− OpEx
−$67.8K −$4.52/SF
NOI
$203.4K $13.56/SF
Area
Minneapolis, MN
Vacancy
2.80%
Lease Rate
$18.60 /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%
$4,067,820
Cap Rate 7%
$2,905,586
Cap Rate 9%
$2,259,900
Alternative Uses
Best Use
Specialty Retail
$2.91M
$2.54M – $3.39M
NOI $203,391 @ 7.0% cap · market cap 5.08%
Second Best
Industrial
$2.28M
$1.99M – $2.65M
NOI $159,283 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,508 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Napa Auto Parts
Shops & Services
1,748 visits/mo
0.4 miles
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Minneapolis, MN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully built-out waterfront hospitality space with extensive indoor and outdoor seating, a commercial kitchen, and on-site parking.
Where is this conventional restaurant located?
The property is located at 1900-1924 Marshall St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Over 950 indoor and outdoor seats; Commercial kitchen with multi‑bar setup and 18 tap lines; Expansive waterfront patios plus multi‑level decks
