Building Details

Building Size 2,352 SF

Year Built 1975

Units 1

Listing Agency: Sandelands Realty

Listed By: Robert Mason · License #40787661 Show Phone

Source: Getyoumoved

Added: Oct 22 Changed: Oct 25 Last Checked: Oct 29 at 11:15PM

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Investment Insights

Based on property information with market context.

The offering combines a restaurant and bar business with its lot and building in Garrison. The 2,352-square-foot property was built in 1975 and is zoned Business/Commercial. Furnishings, fixtures, appliances, inventory, and supplies are included in the sale.

The property overlooks Lake Mille Lacs. Building updates include a roof and HVAC system installed in October 2025, new bar flooring and coolers in 2024, and a walk-in freezer and cooler added in 2023.

Key Highlights

• Restaurant and bar business offered with the lot and building
• 2,352‑square‑foot property built in 1975
• Business/Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,195

Cap Rate

8.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$563,900 $563.9K

Cap Rate 7%

$402,786 $402.8K

Cap Rate 9%

$313,278 $313.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,352 SF

Gross rent

$40.1K $17.04/SF

− Vacancy

−$2.5K −$1.06/SF

EGI

$37.6K $15.98/SF

− OpEx

−$9.4K −$4.00/SF

NOI

$28.2K $11.99/SF

Area

Crow Wing County, MN

Vacancy

6.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$563,900

Cap Rate 7%

$402,786

Cap Rate 9%

$313,278

Alternative Uses

Best Use

Specialty Retail

$402.8K

$352.4K – $469.9K (±1% cap)

NOI $28,195 @ 7.0% cap · market cap 8.06%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$499.3K

$436.9K – $582.6K (±1% cap)

NOI $34,953 @ 7.0% cap · market cap 9.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Diamond Dave's Lake ... Restaurant

Suggested Use

Top Pick Auto Repair Shop Building Supply Auto Parts Store Veterinary Clinic Grocery & Convenience Store Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

49k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 65% Dining 35%

Holiday Station Store Shops & Services

27,665 visits/mo 0.2 miles

McDonald's Dining

17,394 visits/mo 0.2 miles

Dollar General Shops & Services

3,976 visits/mo 0.2 miles

Demographics for 56450, MN

1,129

Population

1,061

Households

1.1

Avg Household Size

58

Median Age

18%

College-Educated

87%

High-School Grad

26.3 sq mi

ZIP Area

43

Density / Sq Mi

$59,076

Median Household Income

$26,350

Median Earnings

$933

Median Rent

$190,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - The sale includes the operating business, its real estate, fixtures, appliances, inventory, and supplies.

Where is this conventional restaurant located?

The property is located at 9575 Madison Street Garrison, MN.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Restaurant and bar business offered with the lot and building; 2,352‑square‑foot property built in 1975; Business/Commercial zoning