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    OFF-MARKET Estimated value $545,000
    Turn key restaurants

    824 Paul Bunyan S Dr, Bemidji, MN 56601-3220

    7,279 SF 1.71 ac lot Built 1975
    Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US46-2419828
    Property summary
    AI-generated overview

    Exceptional opportunity to acquire a thriving, established fine-dining restaurant and accompanying land parcel in the heart of Bemidji, Minnesota. This 1.12-acre property (APN 800085100), zoned Business/Commercial, boasts a substantial building totaling 6,950 square feet (6,100 sq ft main level, 850 sq ft upper level). Currently operating as a single-tenant restaurant, the property features a main floor dining area, cocktail lounge, fully equipped commercial kitchen with walk-in coolers, upstairs dining space, a private meeting room, office, and two outdoor patios. The building, constructed in 1975 and extensively renovated in 2008 (including a second-story addition), offers inside seating for 230 patrons and is equipped with a sprinkler system and is handicapped accessible with grab bars in the restrooms. Ample parking is available with over 80 stalls. The property benefits from a high-traffic location on Paul Bunyan Drive SE, experiencing over 20,000 vehicles daily, and enjoys stunning views of Lake Bemidji. The covered entryway leads to a spacious waiting area featuring a fireplace. This turnkey operation serves a regional market of over 100,000 people, offering a strong foundation for continued success. The property's elegant decor, extensive wine selection, and renowned seafood menu contribute to its established reputation.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1975
    Construction WOOD
    Total area 7,279 SF
    Lot 1.71 ac (74,289 SF)
    APN 80.00851.00
    UPID US46-2419828
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $430k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $659k
    Blend (final) Blend
    $545k
    Owner & transaction history
    Dtl Land Company LLC · 18 yrs held
    Dtl Land Company LLC
    since 2008
    2 recorded transactions
    2021
    2008
    $755,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $770,000 +6.8%
    Office building $755,000 +4.4%
    Apartment house (5+ units) $735,000 +1.9%
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