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    1922 S Broadway St New Ulm, MN 56073
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    1922 S Broadway St New Ulm, MN 56073

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    • Drive through restaurants
    • 3,948 SF
    For Sale
    $1,200,000
    View Listing →
    Turnkey Restaurant Opportunity in New Ulm For Sale
    $1,200,000

    Turnkey Restaurant Opportunity in New Ulm

    Restaurant property with drive-through, ready for immediate operation.

    1922 S Broadway St, New Ulm, MN 56073
    View Listing
    Property ID
    US46-2078154
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 1922 S Broadway St

    Year built
    2001
    Property size
    3,948 SF
    Zone code
    C2
    Property type
    Drive through restaurants
    APN
    001.054.001.02.020
    APU
    105400102020

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,290,000
      ML approach
      $1,390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Ulm
    County
    Brown
    State
    Minnesota
    Longitude
    -94.4424
    Latitude
    44.2931
    CBSA code
    35580
    CBSA name
    NEW ULM, MN MICROPOLITAN 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
    $18,936
    $249,900
    $537,500
    $787,400
    -
    $249,900
    $537,500
    $787,400

    Comparable in this City

    • Value Estimation by Request
      1,100 SF

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      DRIVE-THRU RESTAURANT, FAST FOOD • 1,100 SF
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    • Value Estimation by Request
      1,362 SF

      1501 Broadway St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,362 SF
      1501 Broadway St, New Ulm, MN 56073-1234
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    • Value Estimation by Request
      2,660 SF

      1627 Broadway St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,660 SF
      1627 Broadway St, New Ulm, MN 56073-3752
      View Details
    • Value Estimation by Request
      2,148 SF

      1301 Broadway St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,148 SF
      1301 Broadway St, New Ulm, MN 56073-3474
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    • Value Estimation by Request
      3,274 SF

      1404 Broadway St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,274 SF
      1404 Broadway St, New Ulm, MN 56073-3764
      View Details
    • Value Estimation by Request
      2,236 SF

      701 Minnesota St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,236 SF
      701 Minnesota St, New Ulm, MN 56073
      View Details

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    • $1,200,000

      Turnkey Restaurant Opportunity in New Ulm

      Restaurant property with drive-through, ready for immediate operation.
      1922 S Broadway St, New Ulm, MN 56073
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    View Listing
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    New Ulm, MN 56073
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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.

    More about this property
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    1922 S Broadway St, New Ulm, MN, 56073
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