Mixed-Use Building with Restaurant
4466 Centerville Road, White Bear Lake, MN 55127
For Sale
$899,000
A restaurant and catering kitchen occupy the main level, with two leased apartments upstairs.
Property Size5,232 SF
Price / SF$171.83
Days on Market161
Property Features for 4466 Centerville Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Utilities to Site
Mixed-Use Components
Restaurant
Commercial Hood
Equipment Included
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Walk-in Refrigerator and Freezer
fully-operational hood & bar top
ice-maker
business office
additional common restroom upstairs
high ceilings
private restrooms
off-street parking
Building Signage Opportunity
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Keller Williams Premier Realty
(651) 379-1500
Listed By:
Eric E. Katz · License #20362602,MN
(651) 238-3440
Source:
Driveresultsrealty
Added: Jun 2
Changed: Nov 7
Last Checked: Nov 8 at 7:32PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,232-square-foot mixed-use property, built in 1983, combines a restaurant and catering setup on the main floor with two apartments above. The commercial space includes a walk-in refrigerator and freezer, a functioning hood, a bar counter, an ice maker, an office, and high ceilings. An additional shared restroom is located upstairs. Both apartments are leased and have received updates, including replacement windows and window wells. Each has separately metered electric service; heat, internet, trash service, and water are provided by the owner.
The property is just south of 96 and near 35E in White Bear Lake. Zoning is Business/Commercial. Improvements include a roof installed in 2024 and air conditioning and a water heater installed in 2019. Off-street parking is available, and signage can be placed on the building.
The property is just south of 96 and near 35E in White Bear Lake. Zoning is Business/Commercial. Improvements include a roof installed in 2024 and air conditioning and a water heater installed in 2019. Off-street parking is available, and signage can be placed on the building.
Key Highlights
- 5,232‑square‑foot mixed‑use property with a restaurant and catering kitchen on the main level
- Two leased apartments upstairs, each with metered electric service
- Walk‑in refrigerator and freezer, functioning hood, bar counter, and ice maker
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,302
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,040
$1.2M
Cap Rate 7%
$847,171
$847.2K
Cap Rate 9%
$658,911
$658.9K
Market Conditions
NOI Build-Up for 5,232 SF
Gross rent
$121.8K $23.28/SF
− Vacancy
−$26.9K −$5.14/SF
EGI
$94.9K $18.14/SF
− OpEx
−$35.6K −$6.80/SF
NOI
$59.3K $11.33/SF
Area
Ramsey County, MN
Vacancy
22.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,040
Cap Rate 7%
$847,171
Cap Rate 9%
$658,911
Alternative Uses
Best Use
Mixed Use
$847.2K
$741.3K – $988.4K
NOI $59,302 @ 7.0% cap · market cap 6.60%
Second Best
Industrial
$812.0K
$710.5K – $947.3K
NOI $56,839 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,377 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 55127, MN
18,071
Population
7,825
Households
2.3
Avg Household Size
47
Median Age
53%
College-Educated
97%
High-School Grad
13.5 sq mi
ZIP Area
1,339
Density / Sq Mi
$113,355
Median Household Income
$62,148
Median Earnings
$1,764
Median Rent
$409,400
Median Home Value
Market
Properties on Market for Mixed-use properties in Ramsey County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A restaurant and catering kitchen occupy the main level, with two leased apartments upstairs.
Where is this mixed-use property located?
The property is located at 4466 Centerville Road White Bear Lake, MN.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,232‑square‑foot mixed‑use property with a restaurant and catering kitchen on the main level; Two leased apartments upstairs, each with metered electric service; Walk‑in refrigerator and freezer, functioning hood, bar counter, and ice maker
