Remodeled Bar and Restaurant Event
35032 Clear Lake Ln, Le Center, MN 56057
For Sale
Contact for pricing
Total remodeled and rebuilt in 2006, featuring a large dining room, dance floor, stage, and capacity for up to 250 events.
Property Size5,466 SF
Price / SF$143.62
Days on Market964
Property Features for 35032 Clear Lake Ln
General Information
Standard status
Size
Property subtype
Restaurant
Seating Capacity
Equipment Included
Additional Details
Business Included
Road Access
Building Details
Year Renovated
Listing Agency:
Kubes Realty
(952) 445-9110
Listed By:
Randy Kubes
(612) 599-7440
Source:
Moodyscre
Added: Mar 21, 2024
Changed: Oct 26
Last Checked: Nov 8 at 7:19AM
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 Kubes Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Remodeled Bar and Restaurant Event Center offering a full-service setup for dining, events, and entertainment. The property includes a large dining room and dance floor, a stage, banquet room, and a deck. Food service is supported by a full bar and commercial kitchen, with top-of-the-line equipment. Additional operational space includes a basement with walk-in coolers and freezer, plus extensive storage.
The venue is located just west of town on a nice tar road and has a great view of Clear Lake. The building was totally remodeled and rebuilt in 2006 and is described as being in excellent condition. On-site support systems include a newer septic and well.
Also included is a one-bedroom home on the property, which can provide on-site flexibility for management or additional rental use.
The venue is located just west of town on a nice tar road and has a great view of Clear Lake. The building was totally remodeled and rebuilt in 2006 and is described as being in excellent condition. On-site support systems include a newer septic and well.
Also included is a one-bedroom home on the property, which can provide on-site flexibility for management or additional rental use.
Key Highlights
- 5,466 SF bar, restaurant, and event center
- Totally remodeled and rebuilt in 2006
- Holds up to 250 people for weddings and other special events
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,209
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,444,180
$1.4M
Cap Rate 7%
$1,031,557
$1.0M
Cap Rate 9%
$802,322
$802.3K
Market Conditions
NOI Build-Up for 5,466 SF
Gross rent
$101.7K $18.60/SF
− Vacancy
−$5.4K −$0.99/SF
EGI
$96.3K $17.61/SF
− OpEx
−$24.1K −$4.40/SF
NOI
$72.2K $13.21/SF
Area
Le Sueur County, MN
Vacancy
5.30%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,444,180
Cap Rate 7%
$1,031,557
Cap Rate 9%
$802,322
Alternative Uses
Best Use
Specialty Retail
$1.03M
$902.6K – $1.20M
NOI $72,209 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,285 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56057, MN
3,949
Population
1,619
Households
2.4
Avg Household Size
39
Median Age
17%
College-Educated
91%
High-School Grad
85.2 sq mi
ZIP Area
46
Density / Sq Mi
$81,895
Median Household Income
$41,912
Median Earnings
$874
Median Rent
$233,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Lake Front Bar & Grill — 35032 Clear Lake Ln, Le Center, MN 56057
Frequently Asked Questions
What type of property is this?
Bar & Pub - Total remodeled and rebuilt in 2006, featuring a large dining room, dance floor, stage, and capacity for up to 250 events.
Where is this bar & pub located?
The property is located at 35032 Clear Lake Ln Le Center, MN.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 5,466 SF bar, restaurant, and event center; Totally remodeled and rebuilt in 2006; Holds up to 250 people for weddings and other special events
