Second-Generation Restaurant
For Sale
Contact for pricing
711 W Main St, Anoka, MN 55303
Second-generation restaurant space offered for sale with two outbuildings generating $1,000 monthly income.
Property Size2,592 SF
Price / SF$347.18
Days on Market124
Property Features for 711 W Main St
General Information
Standard status
Active
Size
2,592 SF
Property subtype
RETAIL
Listing Agency:
Latitude Real Estate Advisors
Listed By:
Todd Braufman
(612) 419-4433
Source:
Moodyscre
Added: May 12
Changed: Sep 11
Last Checked: Sep 11 at 11:58AM
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 Latitude Real Estate Advisors
Investment Insights
Based on property information with market context.
This second-generation restaurant space is available for sale and is supported by two additional outbuildings. The outbuildings are approximately 500 square feet each and are described as producing $1,000 per month in income, providing added utility to the overall offering.
The property totals about 2,592 square feet and is presented as a restaurant use with existing improvements tailored to food service operations.
For buyers considering an owner-operator or a complementary income component, the combination of restaurant space and separately noted outbuilding income should be reviewed in the context of intended use and lease arrangements.
The property totals about 2,592 square feet and is presented as a restaurant use with existing improvements tailored to food service operations.
For buyers considering an owner-operator or a complementary income component, the combination of restaurant space and separately noted outbuilding income should be reviewed in the context of intended use and lease arrangements.
Key Highlights
- Second‑generation restaurant space for sale.
- Includes two additional approximately 500 SF outbuildings.
- Outbuildings generate $1,000 per month income.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,119
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,380
$542.4K
Cap Rate 7%
$387,414
$387.4K
Cap Rate 9%
$301,322
$301.3K
Market Conditions
NOI Build-Up for 2,592 SF
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.
Gross rent
$38.9K $15.00/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$36.2K $13.95/SF
− OpEx
−$9.0K −$3.49/SF
NOI
$27.1K $10.46/SF
Area
Anoka County, MN
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,380
Cap Rate 7%
$387,414
Cap Rate 9%
$301,322
Alternative Uses
Best Use
Specialty Retail
$387.4K
$339.0K – $452.0K
NOI $27,119 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,398 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 37%
Kwik Trip
Shops & Services
27,053 visits/mo
0.4 miles
McDonald's
Dining
16,625 visits/mo
0.1 miles
Culver's
Dining
16,602 visits/mo
0.1 miles
Taco Bell
Dining
9,368 visits/mo
0.1 miles
KFC
Dining
3,865 visits/mo
0.1 miles
Demographics for 55303, MN
51,480
Population
20,317
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
96%
High-School Grad
64.4 sq mi
ZIP Area
799
Density / Sq Mi
$101,351
Median Household Income
$54,788
Median Earnings
$1,348
Median Rent
$338,700
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Second-generation restaurant space offered for sale with two outbuildings generating $1,000 monthly income.
Where is this conventional restaurant located?
The property is located at 711 W Main St Anoka, MN.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Second‑generation restaurant space for sale.; Includes two additional approximately 500 SF outbuildings.; Outbuildings generate $1,000 per month income.
