Three-Story Entertainment and Warehouse
For Sale
$1,600,000
23836 Smiley Rd, Nisswa, MN 56468
Three-story property with commercial kitchen, rooftop deck access, and warehouse-style lower level with walk-in coolers and mezzanine seating.
Property Size14,642 SF
Price / SF$109.27
Days on Market75
Property Features for 23836 Smiley Rd
General Information
Standard status
Active
Size
14,642 SF
Building Details
Year Built
2002
Listing Agency:
Close-Converse Commercial Prop
Listed By:
Nate Grotzke · License #20450114
(218) 828-3334
Source:
Tayloronken
Added: Jul 24
Changed: Sep 20
Last Checked: Oct 4 at 2:17PM
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 Close-Converse Commercial Prop
Investment Insights
Based on property information with market context.
This three-story commercial facility is well maintained and designed for a range of entertainment, dining, and event uses. The main level features a large open reception/event area, a commercial kitchen with walk-in coolers, and a separate entertainment space with existing axe-throwing lanes. The upper level provides additional open space and includes access to a rooftop deck. The lower level, formerly brewery operations, offers expansive warehouse-style space with walk-in coolers, mezzanine seating, storage areas, and restroom facilities.
The property is located on Hwy 371 in Nisswa, MN, with ample paved front parking and additional gravel parking in the rear. Outdoor amenities include a patio with a band shell for live music or events. There are two overhead doors, including a loading dock.
Overall, the facility combines multiple open event spaces across levels with back-of-house and loading-ready improvements, along with established entertainment and operational features.
The property is located on Hwy 371 in Nisswa, MN, with ample paved front parking and additional gravel parking in the rear. Outdoor amenities include a patio with a band shell for live music or events. There are two overhead doors, including a loading dock.
Overall, the facility combines multiple open event spaces across levels with back-of-house and loading-ready improvements, along with established entertainment and operational features.
Key Highlights
- Three‑story commercial facility on Hwy 371 in Nisswa, formerly Roundhouse Brewery and Event Center
- Main level includes large open reception/event space, commercial kitchen, and walk‑in coolers
- Upper level has additional open space with access to a rooftop deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,791
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,715,820
$1.7M
Cap Rate 7%
$1,225,586
$1.2M
Cap Rate 9%
$953,233
$953.2K
Market Conditions
NOI Build-Up for 14,642 SF
Gross rent
$127.5K $8.71/SF
− Vacancy
−$5.0K −$0.34/SF
EGI
$122.6K $8.37/SF
− OpEx
−$36.8K −$2.51/SF
NOI
$85.8K $5.86/SF
Area
Crow Wing County, MN
Vacancy
3.90%
Lease Rate
$8.71 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,715,820
Cap Rate 7%
$1,225,586
Cap Rate 9%
$953,233
Alternative Uses
Best Use
Specialty Retail
$2.51M
$2.19M – $2.93M
NOI $175,523 @ 7.0% cap · market cap 10.97%
Second Best
Industrial
$1.23M
$1.07M – $1.43M
NOI $85,791 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,592 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 56468, MN
4,525
Population
3,653
Households
1.2
Avg Household Size
53
Median Age
42%
College-Educated
96%
High-School Grad
49.8 sq mi
ZIP Area
91
Density / Sq Mi
$103,698
Median Household Income
$49,531
Median Earnings
$995
Median Rent
$437,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Brewery - Three-story property with commercial kitchen, rooftop deck access, and warehouse-style lower level with walk-in coolers and mezzanine seating.
Where is this brewery located?
The property is located at 23836 Smiley Rd Nisswa, MN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three‑story commercial facility on Hwy 371 in Nisswa, formerly Roundhouse Brewery and Event Center; Main level includes large open reception/event space, commercial kitchen, and walk‑in coolers; Upper level has additional open space with access to a rooftop deck
