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Neal Anderson, Managing Broker
(612) 865-5955
Counselor Realty, Inc |
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501 & 504 Lake Avenue, Fairmont, MN 56031
STATUS: Active
PROPERTY TYPE: Commercial - Business
SUBDIVISION: Marina Add
SCHOOL: Fairmont Area Schools
Property Description
Nice opportunity to own a well-established, turnkey lakefront restaurant/bar on the beautiful Fairmont Chain of Lakes. This remodeled property (2021) offers 142 feet of lakeshore and a new 100-foot dock, allowing guests to conveniently arrive by boat while also providing ample on-site parking for vehicles. The comfortable, fun, lake setting creates an enjoyable experience, combining steady local traffic with seasonal lake visitors.The main level features an inviting bar area with high-top seating, televisions, pull-tab machines, and restrooms, creating the perfect casual atmosphere. The outdoor space is designed to maximize enjoyment during the spring, summer, and fall seasons. Guests can relax with ample seating, take in the views, and enjoy live entertainment from the covered stage, which is equipped with lighting and sufficient electrical capacity. Stainless steel rail seating adds to the functionality and appeal of the outdoor space. The upper level expands the experience with a second full bar, seating for approximately 50 guests, large windows showcasing picturesque lake views, an electric fireplace, and access to an outdoor deck overlooking the guests and music below. This level has both elevator access and indoor/outdoor stairways with a handicap-accessible restroom. It can also be reserved for private events, offering flexibility for additional revenue year-round. During the winter it provides a larger area to continue hosting entertainment.The kitchen, remodeled in 2015, is fully equipped and designed for efficiency, featuring a flat top, fryer, oven, dishwasher, cold prep area, heat lamp station, walk-in cooler, and freezers. Additional income opportunities include fuel sales for boaters and 12 leased boat slips (5 yr lease). All equipment, furnishings, and inventory are included in the sale, making this a true turnkey operation. With its strong reputation, multiple revenue streams, and prime waterfront location, this property presents an exceptional opportunity for an owner-operator or investor to step into a thriving business.
Property Features
Property Type: Commercial - Business Cooling: Central Air Fuel Type: Natural Gas Heating: Forced Air, Zoned Lot Size: 0.36 Acres Roof Type: Age 8 Years or Less, Asphalt, Pitched Stories: 2.0 Taxes: $9,821 Year Built: 1987
Feature Descriptions
Appliances: Cooktop, Dishwasher, Disposal, Exhaust Fan, Freezer, Microwave, Range, Refrigerator, Wall Oven, Wine Cooler
Basement: None
Current Use: Event Space, Food Service, Restaurant, Bar/Tavern
Days on Site: 20
Exterior: Block, Concrete, Frame, Steel Siding
Foundation Size: 900
Handicap Accessible: Doors 36+, Accessible Elevator Installed, Grab Bars In Bathroom, Partially Wheelchair, Wheelchair Ramp(s)
Lot Dimensions: 145X170
Parcel#: 233350010
Parking: Concrete, Shared Driveway, Guest Parking, Off Site, Parking Lot
Road Frontage: City Street, Curbs, Paved Streets, Sidewalks, Street Lights
Sale Includes: Building, Inventory, Land
Sewer: City Sewer/Connected
Units: 1
Utilities: Electric Common, Heating Common, Hot Water Common
Water: City Water/Connected
Waterfront: Dock, Lake Front, Lake View
Local Schools
School District: Fairmont Area Schools
Listed By / Shown By
Agency Name: RE/MAX TOTAL REALTY
Agency Phone: 507-235-5666
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501 & 504 Lake Avenue | MLS# 7045816
This commercial property located at 501 & 504 Lake Avenue, Fairmont, MN 56031 is currently listed for sale with an asking price of $750,000. & 504 Lake Avenue is located within the Fairmont Area Schools school district. Search Fairmont real estate on nanderson.counselorrealty.com today.