18081 169Th AvePark Rapids, MN 56470

Property Details for 18081 169Th Ave

Year built

1988

Lot size

1.84 AC

Property size (Sq ft)

4,176 SF

Property type

Turn key restaurants

APN

32.19.04200

APU

321904200

Description

This 5,790 square foot industrial property in Park Rapids, MN (56470), located at 18081 169th Avenue, presents a unique investment opportunity. Currently configured as a restaurant and bar (Silver Star Saloon & Eatery), the property boasts 76 restaurant seats, 25 bar seats, and a 34-seat outdoor patio complete with a volleyball court. All fixtures and equipment are included in the sale price of $575,000. The interior features a cozy Northwoods rustic ambiance, a fireplace, and a salad bar station. Recent renovations include a remodeled entryway, new flooring in the entry and bar area, a new bar, and updated tables, chairs, and light fixtures. The outdoor patio has been expanded with a new cement slab and fencing. An additional 326 x 73 foot building (former radiator shop) is also included, with existing plans for conversion into an event center. This building also contains partially finished living quarters. The property offers ample parking and benefits from highway visibility with power available on Hwy 34, allowing for potential business signage. This property offers significant potential for the right buyer to capitalize on its existing features and expand its operations.

• CAP approach

  CAP return

  Valuation

  6%

  $1,128,636

  6.5%

  $1,041,817

  7%

  $967,402

• Comparable approach

  Method

  Valuation

  Relative Method

  $537,120

  Geo Method

  $537,120

• Alternative Use

  Use

  Valuation

  Residential

  $878,812

  Hospitality

  $804,987

  Educational

  $669,740

  Medical

  $692,773

  Retail

  $1,041,817

Location Insight

City

Park Rapids

County

Hubbard

State

Minnesota

Latitude

46.9241

Longitude

-95.0166

Property Tax & Assessments

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