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Property profile & analytics
OFF-MARKET
Turn key restaurants
1211 7th Ave, Two Harbors, MN 55616-1153
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-2597929
Property summary
AI-generated overview
This exceptional 2,108 sq. ft. retail property, located at 1211 7th Ave in Two Harbors, MN 55616, boasts unparalleled visibility on Highway 61. The B1-zoned lot offers flexibility for various uses, while its current configuration includes a fully equipped commercial kitchen featuring an Ansul system, vent hood, and stainless steel sinks. A substantial 9,570 sq. ft. parking lot ensures ample space for customers. Situated in a charming city of approximately 3,600 residents, this location benefits from significant seasonal tourism driven by nearby state parks and attractions, resulting in increased foot traffic and potential revenue. The property's prime location and versatile zoning make it an ideal investment for entrepreneurs seeking a thriving business venture in a picturesque North Shore setting. APN: 23-7648-01032. This single-tenant space presents a unique opportunity to establish or expand a successful business in a high-traffic area. Don't miss this chance to own a piece of Two Harbors' vibrant commercial landscape.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1984
Total area
2,108 SF
Lot
0.08 ac (3,485 SF)
APN
23-7648-01032
UPID
US46-2597929
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
Current use
Occupant on record · Public records
-
Ruth's Vegetarian Gourmet Food Processing Plant
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
Wazz Enterprise LLC · 1 yrs held
Wazz Enterprise LLC
since 2025
Last sale
$405,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Two Harbors submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Two Harbors submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,564
Tax year 2023
Assessed value
$172,000
Assessed 2024
Previous assessed
$174,000
-1.1% YoY
Effective rate
2.07%
On assessed value
Assessed land
$14,300
Assessed improvement
$157,700
Land market value
$14,300
Improvement market value
$157,700
Total market value
$172,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1984
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
2,108 SF
Lot
0.08 ac (3,485 SF)
APN
23-7648-01032
UPID
US46-2597929
Jurisdiction
LAKE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1984
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Wazz Enterprise LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4866 WOODRIDGE DR, HERMANTOWN, MN 55811-3914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2025
$405,000
Wazz Enterprise LLC
Bne Land Holdings LLC
Warranty Deed
—
Nov 14, 2019
—
Ruths Vegetarian Gourmet
—
Deed
related
$200,000 · 2 Harbors Dev
Jan 31, 2017
$122,500
Ruths Vegetarian Gourmet Foods INC
Joseph J Swanson
Warranty Deed
—
Jun 1, 2016
—
Joseph J Swanson
—
Deed
related
$100,000 · The Lake Bank
Jan 14, 2016
$55,000
Joseph J Swanson
Spirit Master Funding LLC
Limited Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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