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    OFF-MARKET
    Commercial real estate

    12 Alder Rd, Babbitt, MN 55706-1123

    7,694 SF 1.21 ac lot Built 1958
    Individually Owned 3-yr Hold Free & Clear
    Property ID
    US46-1512249
    Property summary
    AI-generated overview

    This exceptional turn-key business opportunity in Babbitt, Minnesota, presents a rare chance to acquire a well-established restaurant and bar. The property boasts a substantial 7,694 square feet of space, perfectly suited for a variety of uses. Currently operating as "Fish Tales," the establishment enjoys a strong reputation within the community and offers a diverse range of services, including a full-service restaurant, bar, and extensive off-sale beer, wine, and liquor selection. The spacious layout is ideal for hosting large events, with a capacity to accommodate up to 300 guests, making it perfect for weddings, corporate functions, or other special occasions. An added benefit is a walk-in keg cooler, ensuring ample storage for a wide selection of beverages. The property sits on a generous 1.21-acre lot, providing ample space for outdoor seating or expansion. Its prime location in Northeastern Minnesota offers easy access to local amenities and attractions, including the nearby Babbitt's RV and Campground on Birch Lake. This is a unique opportunity to own a thriving business with significant growth potential in a desirable location. The sale includes all existing fixtures, equipment, and inventory, allowing for a seamless transition for the new owner. This is an exceptional opportunity for an experienced restaurateur or investor looking to capitalize on a well-established business in a vibrant community.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1958
    Total area 7,694 SF
    Lot 1.21 ac (52,708 SF)
    APN 105-0080-00067
    UPID US46-1512249
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Gary Mellesmoen · 3 yrs held
    Gary Mellesmoen
    since 2022
    Last sale
    $350,000
    7 recorded transactions
    2022
    $325,000
    2022
    $325,000
    2022
    $350,000
    2016
    2016
    2007
    2006
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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