Restaurant with Rental
For Sale
Contact for pricing
7 1st Ave NW, Crosby, MN 56441
For sale restaurant with a distinctive concept and two rental apartments for additional income or on-site use.
Property Size2,888 SF
Price / SF$224.72
Days on Market296
Property Features for 7 1st Ave NW
General Information
Standard status
Active
Size
2,888 SF
Property subtype
RETAIL
Additional Details
Business Included
Yes
Multifamily Units
2
Listing Agency:
Realty Group - Coon Rapids
(952) 992-0656
Listed By:
Michael Finley
(952) 992-0656
Source:
Moodyscre
Added: Oct 9, 2025
Changed: Jul 26
Last Checked: Jul 31 at 9:04AM
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 Realty Group - Coon Rapids
Investment Insights
Based on property information with market context.
The Croft Restaurant in Crosby is a for-sale foodservice property with an interesting concept and a unique menu. The seller is motivated and the offering presents an option to keep the existing concept and build from there, or bring your own vision and start fresh.
The property also includes two rental apartments, which can provide additional revenue or be used for management/chef quarters.
Overall, it’s a single restaurant business opportunity paired with residential units on-site, giving the buyer flexibility depending on how they plan to operate.
The property also includes two rental apartments, which can provide additional revenue or be used for management/chef quarters.
Overall, it’s a single restaurant business opportunity paired with residential units on-site, giving the buyer flexibility depending on how they plan to operate.
Key Highlights
- For sale restaurant in Crosby: the Croft Restaurant
- Distinctive concept with a unique menu
- Includes 2 rental apartments for extra revenue or on‑site management/chef quarters
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 | $49.2k | $17.04 |
| − Vacancy | −$3.1k | −$1.06 |
| EGI | $46.2k | $15.98 |
| − OpEx | −$11.5k | −$4.00 |
| NOI | $34.6k | $11.99 |
2,888 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$494.6K
$432.8K – $577.0K
NOI $34,620 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.1K
$536.5K – $715.3K
NOI $42,918 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 15%
Home Improvements & Furnishings 6%
Holiday Station Store
Shops & Services
8,505 visits/mo
0.3 miles
Dollar Tree
Shops & Services
5,524 visits/mo
0.2 miles
SUBWAY
Dining
3,276 visits/mo
0.2 miles
Hele
Shops & Services
2,772 visits/mo
0.1 miles
Crosby Ace Hardware
Home Improvements & Furnishings
1,279 visits/mo
0.1 miles
Demographics for 56441, MN
3,439
Population
2,155
Households
1.6
Avg Household Size
49
Median Age
18%
College-Educated
91%
High-School Grad
89.2 sq mi
ZIP Area
39
Density / Sq Mi
$50,705
Median Household Income
$33,955
Median Earnings
$839
Median Rent
$193,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale restaurant with a distinctive concept and two rental apartments for additional income or on-site use.
Where is this conventional restaurant located?
The property is located at 7 1st Ave NW Crosby, MN.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: For sale restaurant in Crosby: the Croft Restaurant; Distinctive concept with a unique menu; Includes 2 rental apartments for extra revenue or on‑site management/chef quarters
