Building Details

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Listing Agency: Metro East Commercial Real Estate o***@metroeastcre.com Show Phone

Listed By: Scott Kragness Show Phone

Source: Exprealty

Added: Apr 12 Changed: Oct 2 Last Checked: Oct 16 at 9:14AM

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Investment Insights

Based on property information with market context.

Located at 328 5th Ave N in Bayport, Minnesota, this restaurant property encompasses 3,726 total SF with a primary dining level and lower-level dry storage and coolers. The building was established as a restaurant in 2019 and includes dining, kitchen, equipment, and patio improvements.

The sale includes FF&E, including a wood-fired pizza oven, kitchen equipment, restaurant furnishings, and interior decorations. A custom stone fireplace anchors the dining room, while the outdoor patio accommodates parties and live entertainment. The property also has surrounding parking and rear access for deliveries.

The restaurant has operated seasonally and as a catering company. It is owner-operated, zoned B2 Central Business, and includes the physical components associated with its current restaurant use.

Key Highlights

• 3,726 total SF restaurant property with a main dining level and lower‑level dry storage and coolers
• B2 Central Business zoning
• Established in 2019 as a seasonal restaurant and catering company

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,438

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,128,760 $1.1M

Cap Rate 7%

$806,257 $806.3K

Cap Rate 9%

$627,089 $627.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,726 SF

Gross rent

$80.5K $21.60/SF

− Vacancy

−$5.2K −$1.40/SF

EGI

$75.3K $20.20/SF

− OpEx

−$18.8K −$5.05/SF

NOI

$56.4K $15.15/SF

Area

Washington County, MN

Vacancy

6.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,128,760

Cap Rate 7%

$806,257

Cap Rate 9%

$627,089

Alternative Uses

Best Use

Specialty Retail

$806.3K

$705.5K – $940.6K (±1% cap)

NOI $56,438 @ 7.0% cap · market cap 4.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.03M

$905.6K – $1.21M (±1% cap)

NOI $72,448 @ 7.0% cap · market cap 5.58%

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 Real Estate Agency Parking Lot & Garage Hair Salon Nail Salon Plumbing Service Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

168

Businesses Nearby

12k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Holiday Station Store Shops & Services

11,721 visits/mo 0.3 miles

Demographics for 55003, MN

4,024

Population

1,213

Households

3.3

Avg Household Size

37

Median Age

26%

College-Educated

86%

High-School Grad

2.1 sq mi

ZIP Area

1,916

Density / Sq Mi

$115,781

Median Household Income

$42,391

Median Earnings

$1,773

Median Rent

$363,200

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 - The restaurant includes lower-level dry storage and coolers and is zoned B2 Central Business.

Where is this conventional restaurant located?

The property is located at 328 5th Ave N Bayport, MN.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: 3,726 total SF restaurant property with a main dining level and lower‑level dry storage and coolers; B2 Central Business zoning; Established in 2019 as a seasonal restaurant and catering company