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Property profile & analytics
FOR SALE
Drive through restaurants
1922 S Broadway St, New Ulm, MN 56073
Entity Owned
3-yr Hold
Free & Clear
Property ID
US46-2078154
For Sale
1 / 15
$1,200,000
1922 S Broadway St, New Ulm, MN 56073
View Listing →
Property summary
AI-generated overview
This exceptional commercial property, listed at $1,200,000, presents a unique opportunity in the thriving New Ulm, Minnesota market. Situated on a 0.89-acre lot at the busy intersection of South Broadway and MN Hwy 15, this 4,192 square foot building boasts a spacious commercial kitchen and dining room, perfectly suited for a limited-service restaurant. Previously operating as a Burger King since 2001, the property is turnkey and ready for immediate use. Its strategic location offers excellent visibility and accessibility, with proximity to US Hwy 14, the renowned Schell's Brewery, a popular 13-mile bike loop, Flandrau State Park, and the New Ulm Country Club. The property's potential is further enhanced by the option to acquire an additional 0.24 acres, ideal for expanding the drive-thru area. This presents a compelling investment opportunity to capitalize on the high demand for hospitality services in this vibrant community. The property is located at 1922 S Broadway St, New Ulm, MN 56073.
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2001
Total area
3,948 SF
Zoning code
C2
APN
001.054.001.02.020
UPID
US46-2078154
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
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
Beeki LLC · 3 yrs held
Beeki LLC
since 2023
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
C2 · New Ulm, MN
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 New Ulm submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Ulm 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
Method
Estimation
Statistic approach
$1,290,000
ML approach
$1,390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10% · vs last sale $1.40M (Jun 16 2023)
Last sale anchor
$1.40M
Jun 16 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$353 / SF
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
$18,936
Tax year 2023
Assessed value
$787,400
Assessed 2023
Previous assessed
$593,300
+32.7% YoY
Effective rate
2.40%
On assessed value
Assessed land
$249,900
Assessed improvement
$537,500
Land market value
$249,900
Improvement market value
$537,500
Total market value
$787,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Sale
Year built
2001
Buildings
3
Total area
3,948 SF
Zoning code
C2
APN
001.054.001.02.020
UPID
US46-2078154
Jurisdiction
BROWN
Zoning & alternative use
C2 · New Ulm, MN
Zoning C2 · permitted uses
C2 · New Ulm, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Ulm. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2001
Buildings
3
Current owner
From public records · entity-resolved
Beeki LLC
Entity
Free & Clear · 3 yrs held
Mailing address
219 N BROADWAY STPO181, NEW ULM, MN 56073-7510
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2023
$1,400,000
Beeki LLC
On Broadway INC
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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