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Property profile & analytics
OFF-MARKET
Commercial real estate
301 Main N St, Minnesota Lake, MN 56068-4403
Individually Owned
4-yr Hold
Free & Clear
Property ID
US46-2435651
Property summary
AI-generated overview
This thriving, newly renovated restaurant and bar, located at 301 Main St N, Minnesota Lake, MN 56068, presents a unique investment opportunity. The 3,600 square foot establishment, built in 1950 and situated on a 12,197 square foot lot (APN 280040200), is offered at $250,000 ($69.44/sq ft). Recent renovations are extensive, encompassing both interior and exterior improvements. The updated interior boasts new tables, chairs, coolers, and flooring, while the exterior features a refreshed patio complete with a fire pit and new furniture. Kitchen upgrades include a new hood and wash sink. Modern HVAC systems (new furnaces and A/C) ensure year-round comfort. The sale includes valuable operational software: staff scheduling, point of sale, and payroll systems. Security is enhanced by an installed alarm system and a network of POE IP cameras with network attached storage. This Class C property represents a turnkey operation ready for immediate success in the vibrant Minnesota Lake market. The property consists of one unit.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.28 ac (12,197 SF)
APN
28.004.0200
UPID
US46-2435651
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
-
The Orange Door Bar & Pub
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
David A Ratke · 4 yrs held
David A Ratke
since 2022
Last sale
$140,000
4 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 Minnesota Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minnesota Lake 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 2022Property tax & assessments
Tax year 2022
Tax billed
$710
Tax year 2022
Assessed value
$26,700
Assessed 2023
Previous assessed
$26,700
+0.0% YoY
Effective rate
2.66%
On assessed value
Assessed land
$1,700
Assessed improvement
$25,000
Land market value
$1,700
Improvement market value
$25,000
Total market value
$26,700
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Lot
0.28 ac (12,197 SF)
APN
28.004.0200
UPID
US46-2435651
Jurisdiction
FARIBAULT
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
Lot
0.28 ac
Current owner
From public records · entity-resolved
David A Ratke
Individual
Free & Clear · 4 yrs held
Mailing address
53816 250TH ST, MINNESOTA LAKE, MN 56068-3805
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2022
—
David A Radtke
—
Deed
related
$65,000 · Citizens Community Federal
Jan 19, 2022
$25,000
David A Ratke
Commissioner Of Revenue
Commissioners Deed
related
—
Apr 13, 2017
$140,000
Old Mill Bar And Grill LLC
Jason J Dahms
Warranty Deed
—
Apr 13, 2017
—
The Old Mill Bar And Grill LLC
Old Mill Bar And Grill LLC
Intrafamily Transfer
related
—
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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