510 Main StOrmsby, MN 56162

Property Details for 510 Main St

Year built

1903

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

1,813 SF

Property type

Individual retail properties

APN

19.100.1770

APU

191001770

Description

This thriving bar and restaurant, Orv's Food and Spirits LLC, is a turnkey opportunity located on Main Street in Ormsby, Minnesota. The 1,813 square foot establishment boasts a historically significant, beautifully preserved Brunswick bar (original, dating back to 1929 and imported from Germany). The property includes a fully equipped kitchen with recently updated appliances and equipment, ready for immediate operation. Recent upgrades (2023-2024) include a new walk-in cooler, refrigerator/freezer combination, freezer, prep table, char broiler, repaired stainless freezer and salad prep table, a new ice machine (awaiting installation), new dishes and glassware, numerous kitchen utensils, two rebuilt front windows, a new back door, fresh paint throughout the dining room, bathrooms, and hallway, and new bar stools. Some equipment is leased (pop coolers and dishwasher). Inventory is included in the sale price of $195,000. Potential buyers must provide proof of funding before scheduling a showing. This is a rare chance to own a well-established business with significant recent improvements and a rich history. Don't miss this opportunity to own a piece of Ormsby's Main Street!

• CAP approach

  CAP return

  Valuation

  6%

  $438,706

  6.5%

  $404,960

  7%

  $376,034

• Comparable approach

  Method

  Valuation

  Relative Method

  $233,190

  Geo Method

  $233,190

• Alternative Use

  Use

  Valuation

  Residential

  $341,599

  Hospitality

  $312,903

  Educational

  $260,331

  Medical

  $269,284

  Retail

  $404,960

Location Insight

City

Ormsby

County

Watonwan

State

Minnesota

Latitude

43.8484

Longitude

-94.6979

Property Tax & Assessments

FAQs

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