Property profile

824 Paul Bunyan S Dr Bemidji, MN 56601

OFF-MARKET
Turn key restaurants
Property ID
US46-2419828
7,279 SF 1.71 ac lot Built 1975
Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
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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

Location

824 Paul Bunyan S Dr Bemidji, MN 56601-3220
Bemidji metro Census 450704 BEMIDJI, MN MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$430k
CAP Approach CAP
by Request
Comparable Approach Comparable
$659k
Blend (final) Blend
$430k

Owner & transaction history

since 2008
2 recorded transactions
2021
Price N/A
2008
$755,000

Zoning & alternative use

Top alternative use upside
Commercial (general) $770,000 +6.8%
Office building $755,000 +4.4%
Apartment house (5+ units) $735,000 +1.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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