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    Operating Bar & Restaurant For Sale Title is generated by Realmo AI

    29410 Beroun Crossing Rd, Pine City, MN 55063

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    Updated bar and restaurant with seating for 75 indoors.

    Type:Business for Sale, Hospitality, Retail
    Property size:
    4,060 SF
    Price / SF:
    $103/SF
    Added:
    Sep 18, 2024
    Days on Market:
    603
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 29410 Beroun Crossing Rd

    General Information

    Standard status
    Active
    Size
    4,060 SF
    Property subtype
    Business for Sale, Hospitality, Retail

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Martin
    Martin "Marty" Turner

    Listing agent Martin "Marty" Turner License #MN 40381279

    Listing office eXp Commercial

    Listing date Sep 18, 2024

    Source Crexi

    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 Commercial

    HighLights

    • Updated, fully operational bar and restaurant with inventory, fixtures, and equipment included.
    • Seating for 75 indoors plus outdoor patio seating and a covered pavilion.
    • Remodeled 12' x 40' kitchen with 12' vent hood and essential cooking equipment.
    • Located directly on snowmobile and ATV trail.
    • Unique real log structure with open vaulted ceilings.
    • Opportunity to purchase 96+ acres of additional land for development.

    Overview

    This updated operating bar and restaurant includes inventory, fixtures, and equipment. It features seating for 75 indoors, plus outdoor patio seating. An 18' x 20' covered pavilion is located to the East of the building. The bar and restaurant are completely furnished with booths, tables, chairs, and bar stools. The property includes a newly remodeled 12' x 40' kitchen, a 12' long vent hood, a broaster, two deep fryers, a flat grill with oven, and a char broiler. The building features in-floor heat with an outdoor wood boiler, a real deal log structure, and open vaulted ceilings. The property is situated on the snowmobile and ATV trail. Additional land of 96+ acres is available for $295,000 to add on or buy separately. The land has been used to host regional mud bog events and festivals. Potential uses include an event center with campground or RV park, a big hobby farm with homestead, a small farming operation, or a housing subdivision. Additional options include adding a gun range or golf course.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Pine City
    County
    Pine
    State
    Minnesota
    Longitude
    -92.842646
    Latitude
    45.903294

    Nearby Similar for Sale

    • $420,000
      4,060 SF

      Established Saloon with Acreage

      Operating bar and grill on 4.99 acres near Pine City.
      29410 Beroun Crossing Road, Chengwatana Twp, MN 55063
      View Details
    • $395,000

      Pine City Commercial Building For Sale

      3,600 SF single-tenant building with a strong tenant since 2013.
      705 Hillside Avenue SW, Pine City, MN 55063
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Updated bar and restaurant with seating for 75 indoors.
    Where is this bar & pub located?
    The property is located at 29410 Beroun Crossing Rd Pine City, MN.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: Updated, fully operational bar and restaurant with inventory, fixtures, and equipment included.; **Seating for 75 indoors plus outdoor patio seating and a covered pavilion.**; Remodeled 12' x 40' kitchen with 12' vent hood and essential cooking equipment.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Martin
    Martin "Marty" Turner
    Real Estate License ID: MN 40381279
    Learn More
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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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