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Property profile & analytics

320 3rd S St Winsted, MN 55395-7759

  • Commercial real estate
  • 15,413 SF
OFF-MARKET
Value Estimation
$495,000
Last Sale
Jun 23, 2022
$530,000
Location Intelligence
Property ID
US46-2659648
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.

Current Use by Public Records

  • Blue Note Restaurant / Restaurant / Banquet Hall

Property Details for 320 3rd S St

Year built
1900
Property size
15,413 SF
Property type
Commercial real estate
APN
21.011.0100
APU
210110100

Description

This exceptional turnkey opportunity encompasses a thriving restaurant, bar, event center, and liquor store, all situated on a 1.33-acre lot in Winsted, Minnesota. The 15,880-square-foot building, constructed in 1955, offers ample space for diverse operations. The current business boasts a varied menu including sandwiches, wraps, soups, salads, burgers, baskets, and steak, pasta, and walleye entrees. Existing licenses include on- and off-sale liquor permits, gaming, food service, and catering capabilities. The property enjoys a prime location just blocks from Winsted Lake and a convenient one-hour drive west of the Twin Cities. Operating hours are 10 am to 10 pm Monday through Thursday, 10 am to 1 am Friday and Saturday, and 11 am to 10 pm on Sunday. This established business presents a unique chance to continue successful operations, expand event offerings, and introduce innovative menu items. The asking price is $750,000, and a contract for deed may be considered for qualified buyers. This is an owner/user investment opportunity.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $495,000
  • CAP approach

    CAP return
    Estimation
    6%
    $460,000
    6.5%
    $490,000
    7%
    $540,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $410,000
    Geo Method
    $530,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $460,000
    Retail
    $460,000
    Mixed-Use
    $515,000
    Hospitality
    $450,000
    Educational
    $475,000
    Residential Income
    $500,000
    Energy
    $575,000
    Income-Based Land
    $575,000
    Food Service
    $555,000

Location Insight

  • Map
  • Local Demand
City
Winsted
County
Mcleod
State
Minnesota
Longitude
-94.0502
Latitude
44.9609
CBSA code
26780
CBSA name
HUTCHINSON, 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
2019
$10,096
$76,400
$271,400
$347,800
-
$76,400
$271,400
$347,800
More about this property
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