Profitable Restaurant & Catering Business 223 Kraft Dr SE 6,400 SF Retail Building Melrose, MN 56352 $699,000 ($109.22/SF)
INVESTMENT HIGHLIGHTS
- Highly profitable
- Across the street from newly built Kwik Trip
EXECUTIVE SUMMARY
*Seller Financing to Qualified Buyer*
Built from the ground up in 2012, True North Martketplace (Formerly Cornerstone Buffet) in Melrose is home to a wonderful homestyle restaurant/coffee shop as well as a modest sized retail store specializing in locally crafted gifts.
This 6000 square foot space has 4750 square feet dedicated to the restaurant & cafe. Tastefully decorated with a mixture of barn wood & knotty pine coupled with soft Edison lighting and a stone fireplace center piece, True North really impresses visitors. There is a large kitchen with 2 walk-in coolers and a walk-in freezer to accomodate any sized event on or off premises. The retail space is appoximately 1250 SF and is home to Decor & More. They feature locally crafted gifts from all across Minnesota and beyond.
True North Marketplace is located just 2 blocks off Interstate 94 in Melrose right next to a brand new in 2023 Kwik Trip Convenience Store. The facility also includes a newly intalled digital readerboard. There are two external walk-in's and parking wrapped around 3/4's of the building.
Built from the ground up in 2012, True North Martketplace (Formerly Cornerstone Buffet) in Melrose is home to a wonderful homestyle restaurant/coffee shop as well as a modest sized retail store specializing in locally crafted gifts.
This 6000 square foot space has 4750 square feet dedicated to the restaurant & cafe. Tastefully decorated with a mixture of barn wood & knotty pine coupled with soft Edison lighting and a stone fireplace center piece, True North really impresses visitors. There is a large kitchen with 2 walk-in coolers and a walk-in freezer to accomodate any sized event on or off premises. The retail space is appoximately 1250 SF and is home to Decor & More. They feature locally crafted gifts from all across Minnesota and beyond.
True North Marketplace is located just 2 blocks off Interstate 94 in Melrose right next to a brand new in 2023 Kwik Trip Convenience Store. The facility also includes a newly intalled digital readerboard. There are two external walk-in's and parking wrapped around 3/4's of the building.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$15,554
|
$2.43
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$15,554
|
$2.43
|
PROPERTY FACTS Under Contract
Sale Type
Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,400 SF
Building Class
C
Year Built
2012
Price
$699,000
Price Per SF
$109.22
Building Height
1 Story
Building FAR
0.12
Lot Size
1.20 AC
Zoning
COMMERCIAL
Parking
75 Spaces (11.72 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Fireplace
- Pylon Sign
- Restaurant
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,066,600 | |
| Land Assessment | $210,800 | Annual Taxes | $15,554 ($2.43/SF) |
| Improvements Assessment | $855,800 | Tax Year | 2024 Payable 2024 |
