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    Lakeside Restaurant & Bar with Cabins Title is generated by Realmo AI

    2198 Highway 47, Ogilvie, MN 56358

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    Claim this Listing
    For Sale
    $1,199,000

    Commercial - Kanabec Twp, MN

    Lot size:
    2.63 Acres
    Added:
    May 18, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 2198 Highway 47

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Shoreline
    Bedrooms
    5
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Driveway, Garage, Garage - Detached, Parking Lot
    Exterior features
    Wood
    Appliances
    Barbeque or Grill, Cooktop, Dishwasher, Dryer, Freezer, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    090014000
    Lot size
    2.63 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11944

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1940
    Flooring type
    Carpet, Engineered Wood, Tile
    Building materials
    Frame
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Rus Saboe

    Listing agent Rus Saboe

    Listing office Real Estate Masters, LTD 312 East County Road D, Little Canada, MN

    Listing date May 18, 2026

    MLS# 7073845 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • ~500 feet of shoreline on Ann Lake in Kanabec County, with a waterfront restaurant and docks for seasonal lake access
    • Restaurant and bar on Highway 47 just north of Ogilvie, featuring bar seating plus dining room with lake views
    • Six private docks; includes two rental cabins and an attached two‑bedroom home to broaden income options
    • Parking lot resurfaced and provides on‑site parking with driveway, garage, detached garage, and additional parking lot space
    • Cabin mix for rentals: larger 2‑bedroom (queen + four doubles) and efficiency cabin with 3/4 bath and small porch
    • Home features two bedrooms (including main‑floor and attic), wood‑burning river‑rock fireplace, skylights, and hardwood floors

    Overview

    McBees Restaurant & Bar is set along the shores of Ann Lake and operates as a full-service lakeside dining destination. The interior includes a main bar with wrap-around seating, high-top tables, and booths, plus a dedicated dining area with ample seating and a dance floor. A separate east-facing dining room is accessed through double French doors and is designed for daypart dining with lake views. Outdoor space includes expansive decks on both the south and east sides with high-top seating overlooking the water. The parking lot has recently been resurfaced. The property also includes approximately 500 feet of shoreline and six private docks for seasonal customer and rental use.

    The listing is located just north of Ogilvie, MN on Highway 47 in Kanabec County, within Business/Commercial, Shoreline zoning.

    The property is well-suited for an owner-operator or hospitality team looking for a diversified lakeside operation. In addition to the restaurant and bar, the sale includes two rental cabins and an attached two-bedroom home, supporting both on-site use and guest stays. The larger cabin offers two bedrooms plus a full kitchen and porch with lake views, while the efficiency cabin includes a 3/4 bath and small porch. The attached home features split-log interior, pine cabinetry, hardwood floors, storage, skylights, and a wood-burning river-rock fireplace. Together, the restaurant facilities, docks, and lodging components provide a ready-to-run setup for daily dining and seasonal guest accommodations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Bar & Pub Computer & Electronic Repair Tech Support Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • McBees Bar and Grill — 2198 State Hwy 47, Ogilvie, MN 56358
    • Firepit — 1434 Ann Lake Rd, Ogilvie, MN 56358

    Location Insight

    • Map
    • Local Demand
    City
    Ogilvie
    County
    Kanabec
    State
    Minnesota
    Longitude
    -93.320535
    Latitude
    45.730869

    FAQs

    What type of property is this?
    Bar & Pub - Lakeside restaurant and bar with dining decks, private docks, and included rental cabins and attached two-bedroom home.
    Where is this bar & pub located?
    The property is located at 2198 Highway 47 Ogilvie, MN.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: ~500 feet of shoreline on Ann Lake in Kanabec County, with a waterfront restaurant and docks for seasonal lake access; Restaurant and bar on Highway 47 just north of Ogilvie, featuring bar seating plus dining room with lake views; Six private docks; includes two rental cabins and an attached two‑bedroom home to broaden income options
    (386) 931-0520
    We can help!
    Listing Contact
    Rus Saboe
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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