Conventional Restaurant with Cocktail
For Sale
Contact for pricing
709 Main Street Northwest, Elk River, MN 55330
Downtown property includes a commercial kitchen, walk-in cooler, dining seating, and lower-level support space.
Property Size2,760 SF
Price / SF$335.14
Days on Market135
Property Features for 709 Main Street Northwest
General Information
Standard status
Active
Size
2,760 SF
Class
C
Property subtype
Retail
Zoning
DD
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Equipment Included
Yes
Building Details
Year Built
1929
Units
1
Listing Agency:
Northstar Real Estate Associates
Listed By:
Eli Renn · License #40913358
Source:
Crexi
Added: Jun 3
Changed: Oct 2
Last Checked: Oct 14 at 9:14PM
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 Northstar Real Estate Associates
Investment Insights
Based on property information with market context.
Located at 709 Main Street Northwest in Downtown Elk River, this 2,760 SF conventional restaurant was built in 1929 and includes a cocktail bar component. The interior contains a full commercial kitchen, walk-in cooler, bar infrastructure, dining room seating, booths, furniture, fixtures, and equipment. Additional lower-level space provides storage and operational support. The property carries DD zoning and is positioned on Main Street with nearby public parking. Its existing restaurant configuration supports continued hospitality use, subject to applicable approvals and operating requirements.
Key Highlights
- 2,760 SF conventional restaurant and cocktail bar property
- Full commercial kitchen with walk‑in cooler
- Bar infrastructure, dining room seating, booths, and FF&E included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,862
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,240
$817.2K
Cap Rate 7%
$583,743
$583.7K
Cap Rate 9%
$454,022
$454.0K
Market Conditions
NOI Build-Up for 2,760 SF
Gross rent
$58.0K $21.00/SF
− Vacancy
−$3.5K −$1.26/SF
EGI
$54.5K $19.74/SF
− OpEx
−$13.6K −$4.94/SF
NOI
$40.9K $14.81/SF
Area
Sherburne County, MN
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,240
Cap Rate 7%
$583,743
Cap Rate 9%
$454,022
Alternative Uses
Best Use
Specialty Retail
$583.7K
$510.8K – $681.0K
NOI $40,862 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$428.3K
$374.8K – $499.7K
NOI $29,984 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$658.5K
$576.2K – $768.2K
NOI $46,094 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Shops & Services 20%
Caribou Coffee
Dining
4,735 visits/mo
0.1 miles
Laundry Land
Shops & Services
942 visits/mo
0.2 miles
Grand Rental Station
Shops & Services
274 visits/mo
0.1 miles
Demographics for 55330, MN
43,626
Population
16,796
Households
2.6
Avg Household Size
37
Median Age
33%
College-Educated
94%
High-School Grad
106.6 sq mi
ZIP Area
409
Density / Sq Mi
$111,481
Median Household Income
$59,332
Median Earnings
$1,356
Median Rent
$355,200
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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Downtown property includes a commercial kitchen, walk-in cooler, dining seating, and lower-level support space.
Where is this conventional restaurant located?
The property is located at 709 Main Street Northwest Elk River, MN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 2,760 SF conventional restaurant and cocktail bar property; Full commercial kitchen with walk‑in cooler; Bar infrastructure, dining room seating, booths, and FF&E included
