Restaurant Property on Connecting
For Sale
Contact for pricing
705 E Vernon Ave, Fergus Falls, MN 56537
Restaurant property located between Casey’s and Dairy Queen near downtown Fergus Falls and Lake Region Hospital.
Property Size3,285 SF
Price / SF$181.13
Days on Market199
Property Features for 705 E Vernon Ave
General Information
Standard status
Active
Size
3,285 SF
Property subtype
RETAIL
Listing Agency:
Upland Real Estate Group, Inc
(612) 868-1868
Listed By:
Rob Kost
(612) 868-1868
Source:
Moodyscre
Added: Jan 12
Changed: Jul 27
Last Checked: Jul 30 at 11:43AM
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 Upland Real Estate Group, Inc
Investment Insights
Based on property information with market context.
This restaurant property is positioned on a set of connecting routes that run toward downtown and I-94/MN 210. The asset is listed for sale and includes approximately 3,285 square feet of space.
The location places it between Casey’s and Dairy Queen, near downtown Fergus Falls and Lake Region Hospital, supporting steady day-to-day neighborhood activity.
For tenants or buyers, the configuration and surrounding tenant mix may be well-suited for food and beverage operations that want visibility to passing traffic and proximity to local demand generators.
The location places it between Casey’s and Dairy Queen, near downtown Fergus Falls and Lake Region Hospital, supporting steady day-to-day neighborhood activity.
For tenants or buyers, the configuration and surrounding tenant mix may be well-suited for food and beverage operations that want visibility to passing traffic and proximity to local demand generators.
Key Highlights
- Restaurant property located near downtown Fergus Falls and Lake Region Hospital
- Positioned between Casey’s and Dairy Queen
- Convenient to connecting routes to downtown and I‑94 / MN 210
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 | $62.3k | $18.96 |
| − Vacancy | −$1.6k | −$0.49 |
| EGI | $60.7k | $18.47 |
| − OpEx | −$15.2k | −$4.62 |
| NOI | $45.5k | $13.85 |
3,285 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$650.0K
$568.7K – $758.3K
NOI $45,498 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$713.6K
$624.4K – $832.6K
NOI $49,953 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Casey's General Store
Shops & Services
9,448 visits/mo
0.2 miles
SUBWAY
Dining
2,733 visits/mo
0.5 miles
Demographics for 56537, MN
19,230
Population
9,498
Households
2
Avg Household Size
44
Median Age
30%
College-Educated
96%
High-School Grad
283.4 sq mi
ZIP Area
68
Density / Sq Mi
$62,279
Median Household Income
$40,272
Median Earnings
$840
Median Rent
$223,000
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 - Restaurant property located between Casey’s and Dairy Queen near downtown Fergus Falls and Lake Region Hospital.
Where is this conventional restaurant located?
The property is located at 705 E Vernon Ave Fergus Falls, MN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Restaurant property located near downtown Fergus Falls and Lake Region Hospital; Positioned between Casey’s and Dairy Queen; Convenient to connecting routes to downtown and I‑94 / MN 210
