Freestanding Former Pizza Hut
For Sale
Contact for pricing
956 Lake Street South, Forest Lake, MN 55025
Standalone restaurant building with a flexible layout for retail, food service, or service-oriented uses.
Property Size3,200 SF
Price / SF$217.81
Days on Market72
Property Features for 956 Lake Street South
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
40
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1979
Units
1
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #378952
(888) 737-2264
Source:
Crexi
Added: Aug 6
Changed: Oct 15
Last Checked: Oct 16 at 8:44AM
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 Bang Realty
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Investment Insights
Based on property information with market context.
This freestanding former Pizza Hut restaurant contains 3,200 square feet and was built in 1979. The property includes an adaptable restaurant layout that can support continued food service or alternative retail and service-oriented uses. Its standalone configuration provides a defined commercial building for an owner-user, redevelopment plan, or repositioning strategy.
Located at 956 Lake Street South in Forest Lake, Minnesota, the property sits along an established commercial corridor with surrounding retail activity. The former operation recorded 27,400 annual visits from 15,100 unique visitors during its past 12 months of operation. It also ranked first among Pizza Hut locations within a 15-mile radius and 29th among 49 Pizza Hut locations in Minnesota.
Located at 956 Lake Street South in Forest Lake, Minnesota, the property sits along an established commercial corridor with surrounding retail activity. The former operation recorded 27,400 annual visits from 15,100 unique visitors during its past 12 months of operation. It also ranked first among Pizza Hut locations within a 15-mile radius and 29th among 49 Pizza Hut locations in Minnesota.
Key Highlights
- 3,200‑square‑foot freestanding restaurant building
- Built in 1979
- Former Pizza Hut location with adaptable restaurant layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,470
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$969,400
$969.4K
Cap Rate 7%
$692,429
$692.4K
Cap Rate 9%
$538,556
$538.6K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$69.1K $21.60/SF
− Vacancy
−$4.5K −$1.40/SF
EGI
$64.6K $20.20/SF
− OpEx
−$16.2K −$5.05/SF
NOI
$48.5K $15.15/SF
Area
Washington County, MN
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$969,400
Cap Rate 7%
$692,429
Cap Rate 9%
$538,556
Alternative Uses
Best Use
Specialty Retail
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 6.95%
Second Best
Retail
$535.7K
$468.7K – $625.0K
NOI $37,498 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$888.9K
$777.8K – $1.04M
NOI $62,220 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55025, MN
25,784
Population
10,522
Households
2.5
Avg Household Size
40
Median Age
36%
College-Educated
94%
High-School Grad
77.1 sq mi
ZIP Area
334
Density / Sq Mi
$95,993
Median Household Income
$51,041
Median Earnings
$1,355
Median Rent
$385,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Standalone restaurant building with a flexible layout for retail, food service, or service-oriented uses.
Where is this conventional restaurant located?
The property is located at 956 Lake Street South Forest Lake, MN.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: 3,200‑square‑foot freestanding restaurant building; Built in 1979; Former Pizza Hut location with adaptable restaurant layout
