Building Details

Year Built 1950

Buildings 1

Stories 1

Listing Agency: Weichert Realtors, Community Group

Listed By: Richard E Draheim Show Phone

Source: Vibemn

Added: Jul 31 Changed: Oct 17 Last Checked: Oct 7 at 1:02PM

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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 Weichert Realtors, Community Group

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Investment Insights

Based on property information with market context.

This single-story restaurant and bar property includes the building, land, existing inventory, and appliances. The 1,352-square-foot facility was expanded through additions completed in 2016 and 2018, adding operational and customer space to the original structure. Interior features include two separate bar areas, varied seating with tables, stools, and high-top arrangements, and a bathroom finished with ceramic tile. A metal roof and fenced patio are also part of the improvements.

The property is located at 204 1st Ave in Pemberton, Minnesota, along State Highway 83. On-site parking supports customer access, while the patio provides an outdoor dining area. Existing appliances and inventory are included with the sale, along with the land and building.

Key Highlights

• 1,352‑square‑foot restaurant and bar building
• Additions completed in 2016 and 2018
• Two distinct bar areas with varied seating

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,777

Cap Rate

7.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,540 $355.5K

Cap Rate 7%

$253,957 $254.0K

Cap Rate 9%

$197,522 $197.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,352 SF

Gross rent

$24.3K $18.00/SF

− Vacancy

−$633 −$0.47/SF

EGI

$23.7K $17.53/SF

− OpEx

−$5.9K −$4.38/SF

NOI

$17.8K $13.15/SF

Area

Blue Earth County, MN

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,540

Cap Rate 7%

$253,957

Cap Rate 9%

$197,522

Alternative Uses

Best Use

Specialty Retail

$254.0K

$222.2K – $296.3K (±1% cap)

NOI $17,777 @ 7.0% cap · market cap 7.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$267.2K

$233.8K – $311.8K (±1% cap)

NOI $18,705 @ 7.0% cap · market cap 7.51%

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

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Storage Facility Skin Care Clinic Acupuncture Gym & Fitness Center Accounting Firm Spa & Massage Center

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

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 56078, MN

454

Population

195

Households

2.3

Avg Household Size

42

Median Age

19%

College-Educated

97%

High-School Grad

25.4 sq mi

ZIP Area

18

Density / Sq Mi

$79,688

Median Household Income

$40,682

Median Earnings

$1,575

Median Rent

$187,500

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

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant and bar property with expanded interior space, two bar areas, fenced patio seating, parking, and included equipment.

Where is this conventional restaurant located?

The property is located at 204 1st Ave Pemberton, MN.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: 1,352‑square‑foot restaurant and bar building; Additions completed in 2016 and 2018; Two distinct bar areas with varied seating