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Property profile & analytics
FOR SALE
Turn key restaurants
812 7Th Ave Two Harbors, MN 55616
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-2093987
For Sale
1 / 20
$749,000
812 7Th Ave, Two Harbors, MN 55616
View Listing →
Property summary
AI-generated overview
This exceptional turnkey restaurant opportunity in Two Harbors, Minnesota, is ideally situated on a main thoroughfare, ensuring high visibility and ample foot traffic. The property, known as the "Vanilla Bean," boasts a total of 3,718 square feet, encompassing a 2,670 square foot interior dining area and an additional 805 square feet of outdoor patio seating, perfect for the busy summer and fall seasons. An adjacent 1,404 square foot retail building is currently leased, providing additional income potential. The property includes ample parking for patrons and staff. Built in 1903 and renovated in 1995, this single-story building sits on two parcels of land (APN: 23-7661-33010 / 23-7661-33010) and is offered at an asking price of $749,000 ($201.45 per square foot). 2022 property taxes totaled $9,654.58. This is a rare chance to acquire a well-established, profitable business in a desirable location. The property is available for purchase.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1995
Construction
WOOD
Total area
2,230 SF
APN
23-7661-33010
UPID
US46-2093987
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
-
Vanilla Bean - Two Harbors Restaurant
-
Agate Bay Outfitters LLC (Bike/Boat/Book/etc) Store
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
Jv Holdings LLC · 7 yrs held
Jv Holdings LLC
since 2018
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 Two Harbors submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Two Harbors 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 2023Property tax & assessments
Tax year 2023
Tax billed
$8,360
Tax year 2023
Assessed value
$317,500
Assessed 2024
Previous assessed
$320,900
-1.1% YoY
Effective rate
2.63%
On assessed value
Assessed land
$20,100
Assessed improvement
$297,400
Land market value
$20,100
Improvement market value
$297,400
Total market value
$317,500
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1995
Construction
WOOD
Heating
OTHER
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Total area
2,230 SF
APN
23-7661-33010
UPID
US46-2093987
Jurisdiction
LAKE
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
1995
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
2
Buildings
2
Current owner
From public records · entity-resolved
Jv Holdings LLC
Entity
Mailing address
812 7TH AVE, TWO HARBORS, MN 55616-1458
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Nov 29, 2018
—
Jv Holdings LLC
—
Deed
related
$254,900 · Northeast Entre Fund
Apr 24, 2017
—
Jv Holdings LLC
—
Deed
related
$100,600 · Northeast Entrepreneur Fund INC
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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