9563 Madison St, Garrison, MN 56450-2026
This exceptional investment opportunity presents a well-established restaurant and ice cream shop ideally situated on Highway 169 in Garrison, Minnesota, directly across from Mille Lacs Lake. The Spotlite Cafe, boasting over 40 years of success, offers a diverse menu featuring made-from-scratch breakfast, lunch, and dinner options, including their renowned original pancake recipe. Recently expanded to include "The Ice Cream Spot," a delightful ice cream parlor and gift shop, the property also features a Mille Lacs Lake Gift Shop stocked with apparel and souvenirs. This thriving business benefits from high visibility and significant traffic volume due to its prime highway location. Adding to its appeal is a spacious upper-level apartment offering stunning views of Mille Lacs Lake. The building encompasses 5,440 square feet and sits on a 0.27-acre lot. This unique combination of a profitable, long-standing restaurant, a complementary ice cream and gift shop, and a desirable apartment presents a rare opportunity for a savvy investor seeking a turnkey operation with significant growth potential. The property is priced at $399,000.
-
Ice Cream Spot & Gift Shop Grocery & Convenience Store Specialty Food Shop
-
Spotlite Cafe & Ice Cream Shop Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.