1309 Vermillion St Hastings, MN 55033-2843
Property profile & analytics
1309 Vermillion St Hastings, MN 55033-2843
- Turn key restaurants
- 4,650 SF
- 1.09 lot acres
Property ID
US46-3250199
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 1309 Vermillion St
- Year built
- 1979
- Construction
- CONCRETE
- Lot size
- 1.09 lot acres
- Property size
- 4,650 SF
- Zone code
- R
- Property type
- Turn key restaurants
- APN
- 19-77300-04-191
- APU
- 197730004191
Description
This 8,000-square-foot QSR/restaurant in Hastings, MN, presents a compelling investment opportunity. Located on Vermillion Street, a high-traffic area with 27,900 vehicles per day, the property boasts excellent visibility. The building, constructed in 1979 and extensively remodeled in 2020, features a drive-thru, a full kitchen with a 24-foot hood, and all kitchen equipment is included in the sale. The 1.09-acre lot provides ample parking for 48 vehicles. Currently leased to Taste of Tayb under a net lease agreement with a remaining term of 5.6 years (commencing July 1, 2024, and expiring June 30, 2030), the lease includes a five-year option. The landlord has the right to terminate the lease with 60 days' notice. The property offers an 8.89% cap rate and is priced at $1,350,000 ($168.75/sq ft). Landlord responsibilities include roof, parking lot, and HVAC. Property taxes for 2024 are $17,096. The property ID is 19-773300-04-191. This is an exceptional opportunity for an investor or owner-occupier seeking a high-return, established business in a prime location.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $865,000
- ML approach
- $855,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $535,000
Market price range: $228k - $609k -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $900,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $920,000 Change: +2% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $795,000 Change: -12% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hastings
- County
- Dakota
- State
- Minnesota
- Longitude
- -92.8519
- Latitude
- 44.7329
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$19,266
$397,000
$305,600
$702,600
-
$397,000
$305,600
$702,600
