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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Commercial real estate
320 3rd S St Winsted, MN 55395-7759
Entity Owned
4-yr Hold
Free & Clear
Property ID
US46-2659648
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1900
Total area
15,413 SF
APN
21.011.0100
UPID
US46-2659648
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
-
Blue Note Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$645k
Blend (final)
Blend
$520k
Owner & transaction history
J & N Real Estate Holdings LLC · 4 yrs held
J & N Real Estate Holdings LLC
since 2022
Last sale
$530,000
2 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 Winsted submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winsted 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
$495,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $530k (Jun 23 2022)
Last sale anchor
$530k
Jun 23 2022
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
$34 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$10,096
Tax year 2019
Assessed value
$347,800
Assessed 2022
Previous assessed
$347,800
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$76,400
Assessed improvement
$271,400
Land market value
$76,400
Improvement market value
$271,400
Total market value
$347,800
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
Year built
1900
Stories
1
Total area
15,413 SF
APN
21.011.0100
UPID
US46-2659648
Jurisdiction
MCLEOD
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
Year built
1900
Stories
1
Current owner
From public records · entity-resolved
J & N Real Estate Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
320 3RD ST S, WINSTED, MN 55395-7759
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
$530,000
J & N Real Estate Holdings LLC
C & C Brothers LLC
Warranty Deed
—
May 21, 2012
—
C & C Brothers, LLC
Robert Bayerl
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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