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    120 Main St Elgin, ND 58533

    For Sale
    $125,000

    Established Business, Prime Location

    Property size:
    3,059 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional turnkey opportunity presents a thriving restaurant and bar located at 120 N Main St, Elgin, ND 58533. Spanning 3,059 square feet on a 0.075-acre lot, this 1920-built establishment is priced at $125,000 ($42.50/sq ft). The property boasts a well-defined layout, including a front bar area with seating and gaming, a rear space currently utilized for pool tables, dart boards, and a stage, an office with laundry hookups and a shower, restrooms, an inventory area, and a basement for ample storage. Recent upgrades include a new exterior electrical system (2020), a rebuilt cooler (2017), a new roof (2018), updated flooring (2021), and added insulation (2023). The property includes all furniture, fixtures, and equipment. An adjoining vacant lot is available for purchase from the city of Elgin, offering potential for expansion or outdoor space. The seller is open to a contract for deed. A lease option is also available at $2,000/month plus utilities. Elgin's strategic location in a popular pheasant hunting area, near Lake Tschida, and on a well-traveled route for motorcyclists and car clubs, ensures consistent foot traffic. The city also hosts numerous annual events, further boosting business potential. The building features central air cooling, forced air and oil heating, carpet and vinyl flooring, and public water and sewer connections. Included are ceiling fans and window treatments. The property has city street road frontage and is on a lot the owner owns.

    Property Features for 120 Main St

    General Information

    Property type
    Restaurants
    Square Feet
    3,059 SF
    Lot Size
    3,267 SF

    Building Details

    Year Built
    1920

    HighLights

    • Bar/Restaurant/Retail Opportunity
    • Central AC
    • Forced‑air oil heat
    • Carpet and vinyl flooring
    • Unfinished basement
    • Public water and sewer
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Pharmacy Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Grant
    State
    North Dakota
    Longitude
    -101.84547406498
    Latitude
    46.402931831707

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    FAQs

    What type of property is this?
    Restaurant - Established Business, Prime Location
    Where is this restaurant located?
    The property is located at 120 Main St Elgin, ND.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Bar/Restaurant/Retail Opportunity; Central AC; Forced-air oil heat
    Request Owner's contact information
    120 Main St Elgin, ND 58533
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    Elgin, ND 58533
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    120 Main St Elgin, ND 58533
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