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    201 Lewis Ave Watertown, MN 55388
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    201 Lewis Ave Watertown, MN 55388

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    • Retail properties & Spaces
    • 4,121 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 201 Lewis Ave

    Property size
    4,121 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional turnkey restaurant opportunity in downtown Watertown, Minnesota, is priced at $399,000. The property, located at 201 Lewis Ave S, boasts a total of 4,121 square feet, with 2,412 square feet of net rentable space. The asking price equates to $96.82 per square foot. The restaurant features a fully equipped kitchen, including two kitchen hoods—a Type 2 hood for a double-deck pizza oven and a 6-foot Type 1 hood with a prep table and dish area. A substantial 6-foot kitchen hood and reach-in cooler are also included. Adding to its versatility, the property includes a stage in the dining area with a full-view clear garage door opening directly onto Lewis Ave S, creating unique possibilities for events or expanded seating. An apartment is also included on the property, adding to its investment potential. This owner/user investment is situated in Carver County, Minnesota, zip code 55388, offering a prime location in the heart of Watertown. The property is ready for immediate operation, making it an ideal opportunity for a seasoned restaurateur or a new business venture. This fully equipped and turnkey operation presents a rare chance to acquire a well-established restaurant with significant potential for growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Carver
    State
    Minnesota
    Longitude
    -93.848
    Latitude
    44.9627

    Comparable in this City

    • Value Estimation by Request
      2,025 SF

      126 Lewis S Ave

      BAR, TAVERN • 2,025 SF
      126 Lewis S Ave, Watertown, MN 55388-4621
      View Details
    • Value Estimation by Request
      1,584 SF

      130 Lewis Ave

      Retail properties & Spaces • 1,584 SF
      130 Lewis Ave, Watertown, MN 55388
      View Details
    • Value Estimation by Request
      2,040 SF

      117 Lewis S Ave

      RESTAURANT • 2,040 SF
      117 Lewis S Ave, Watertown, MN 55388-4521
      View Details
    • Value Estimation by Request
      6,288 SF

      609 Jefferson SW Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 6,288 SF
      609 Jefferson SW Ave, Watertown, MN 55388-9278
      View Details
    • Value Estimation by Request
      3,610 SF

      305 Lewis S Ave

      RESTAURANT • 3,610 SF
      305 Lewis S Ave, Watertown, MN 55388-4548
      View Details
    • Value Estimation by Request
      2,160 SF

      220 Lewis S Ave

      RESTAURANT • 2,160 SF
      220 Lewis S Ave, Watertown, MN 55388-4503
      View Details

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    • $167,925
      1,119 SF

      721 Industrial Blvd, Watertown, MN 55388

      Commercial real estate • 1,119 SF
      721 Industrial Blvd, Watertown, MN 55388
      View Details
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    Watertown, MN 55388
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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