White Bear Lake Restaurant/Apartment
For Sale
Contact for pricing
4466 Centerville Rd, White Bear Lake, MN
Restaurant with two apartments in White Bear Lake, Minnesota.
Property Size5,300 SF
Lot Size0.29 Acres
Price / SF$179.25
Days on Market248
Property Features for 4466 Centerville Rd
General Information
Standard status
Active
Size
5,300 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
Keller Williams Premier Realty - Vadnais Heights
(651) 238-3440
Listed By:
Eric E Katz · License #20362602,MN
(651) 238-3440
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 10
Last Checked: Jul 21 at 5:19AM
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 Keller Williams Premier Realty - Vadnais Heights
Investment Insights
Based on property information with market context.
This property, located in White Bear Lake, Minnesota, features a restaurant buildout suitable for catering. The freestanding, multi-tenant building also includes two apartments on the second floor. The property size is 5,300 square feet. It is located in a prime location and has an existing clientele. It can be used as a restaurant, retail property, apartment building, multifamily property, or residential income property.
Key Highlights
- Prime White Bear Lake Location
- Newer Restaurant Buildout / Catering
- Includes 2 Apartments on Floor 2
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.5k | $21.60 |
| − Vacancy | −$7.4k | −$1.40 |
| EGI | $107.0k | $20.20 |
| − OpEx | −$26.8k | −$5.05 |
| NOI | $80.3k | $15.15 |
5,300 SF · lease $21.60/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,279 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$921.0K
$805.9K – $1.07M
NOI $64,468 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,052 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant with two apartments in White Bear Lake, Minnesota.
Where is this restaurant located?
The property is located at 4466 Centerville Rd White Bear Lake, MN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime White Bear Lake Location; Newer Restaurant Buildout / Catering; Includes 2 Apartments on Floor 2
