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1516 Old West Main St

3,000 SF Retail Building Red Wing, MN 55066 £1,025,700 (£342/SF)

Investment Highlights

  • Tourist area
  • expansion opportunity
  • River community

Executive Summary

A very successful restaurant and bar is now being offered for sale by owner. This is an outstanding opportunity to purchase a very busy and consistently growing Minnesota restaurant located in the tourist friendly metro fringe river town of Red Wing. This award-winning restaurant features indoor and outdoor seating, with a "Minnesota Best Gold" recognized roof top deck view over looking the river. Included in the sale are the propery, building, equipment and business, a full-service bar, dining room and seperate catering and a private banquet room business. This well-established restaurant in the West End district located next to the new Skyway river pedestrian bridge is within easy walking distance to Baypoint park, multiple hotels and marinas. Additional business revenue sources include Treasure Island Casino, Sheldon Theater, multipal wedding venues, Lake Pepin and more. The West End district in Red Wing is earmarked by the City and Port Authority as a high value development area with multipal grants, low interest loans and programs available to help grow and expand this business. The area has just gone through recent street/sidewalk renewel and upgrades and is clearly the jewel of Red Wing. This unique location that is second to none and is truly an opportunity for a seasoned restaurateur or group seeking to add a proven restaurant to their portfolio. Current owner is looking to retire, but this is not a desperation sale. Financial capabilities and letter of discloser will be required for advanced conversations. Some financing options could also be available to qualified buyer. Please no broker or realtors assistance needed

Property Facts

Sale Type
Investment or Owner User
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,000 SF
Building Class
C
Year Built
1900
Price
£1,025,700
Price Per SF
£342
Tenancy
Single
Number of Floors
1
Building FAR
0.77
Land Acres
0.09 AC
Opportunity Zone
Yes
Zoning
L-I - Light Industrial
Parking
6 Spaces
Frontage
50 ft on Old West Main St.

Amenities

  • Conferencing Facility
  • Mezzanine
  • Security System
  • Signage
  • Accent Lighting
  • Roof Terrace
  • Car Charging Station
  • Air Conditioning
  • Balcony
  • Fiber Optic Internet
  • Smoke Detector

About 1516 Old West Main St , Red Wing, MN 55066

Located in the newly upgraded West End district, next to the new Skyway pedestrian bridge. Mississippi reviews, easy access to parks, hotels, marinas, bike trails and more.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
55.535.0100
Land Assessment
£42,527
Improvements Assessment
£173,580
Total Assessment
£216,107
  • Listing ID: 32379866

  • Date on Market: 08/07/2024

  • Last Updated:

  • Address: 1516 Old West Main St, Red Wing, MN 55066

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