For Sale: Bovey MLS# 7162218
Active
NEW!
$269,900
Commercial: 1 Story
Built 1920
0.32 acres
Greenway schools
MLS# 7162218
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Property Description
Exceptional Turnkey Bar & Entertainment Business with Income-Producing Apartments
An exceptional commercial turnkey opportunity! Following the forfeiture of a previous contract for deed, the sellers have repossessed the property and completed extensive cosmetic and operational upgrades throughout the establishment. Community support has been overwhelming, with patrons welcoming the owners back and contributing to a substantial increase in daily revenue.
Business & Revenue Highlights
Established Entertainment Destination: Successfully hosts weekly dart and pool tournaments, live band performances, birthday parties, and baby showers. The business also plans to introduce meat raffles and bingo events, creating additional opportunities to attract patrons, increase traffic, and grow revenue.
Multiple Revenue Streams: In addition to food and beverage sales, the establishment offers pull tabs and electronic pull tabs (e-tabs) to its patrons, providing an additional source of business income and enhancing the overall entertainment experience.
Food & Beverage Operations: Currently serving pizza and light food items, with significant potential to expand the menu and increase sales.
Value-Add Kitchen Opportunity: Features a designated kitchen area currently plumbed with a sink, offering excellent potential for expanded food service. Buyers interested in developing a more extensive menu are encouraged to consult local city and health officials regarding licensing, equipment, and layout requirements for commercial food preparation. This space offers an opportunity to tailor food service to a buyer’s vision.
Immediate Rental Income: Includes two fully leased, income-producing residential apartments on-site, providing an additional revenue stream alongside the bar and entertainment business.
Growth Potential: With established community support, multiple entertainment offerings, food and beverage sales, pull-tab and e-tab income, and residential rental revenue, this property presents an exciting opportunity for an owner-operator or investor to build on an established business and explore additional revenue opportunities.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$269,900
Property Type:
Commercial
City:
Bovey
Garage Spaces:
2
County:
Itasca
Year Built:
1920
State:
MN
Property Style:
1 Story
Zip Code:
55709
Subdivision Name:
Bovey
Interior
Flooring:
Carpet, Concrete Slab, Floor Drains, Tile, Vinyl
Refrigerators:
One Per Unit
Appliances Included:
- Cooktop
- Range
- Refrigerator
Exterior
Stories:
One
Garage Spaces:
2
Garage Dimensions:
22 x 24
Air Conditioning:
None
Foundation Size:
4,554 ft2
Fencing:
None
Handicap Accessible:
Wheelchair Ramp(s)
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Forced Air
- Radiator
Parking Features:
- Detached Garage
- Gravel
- Parking Lot
Unit Amenities:
Patio
Exterior Material:
- Block
- Brick
- Concrete
- Other
- Stone
Pool:
None
Roof Details:
Age Over 8 Years
Rooms
Shared Rooms:
Other
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.32
Geolocation:
47.295864, -93.418576
Inclusions:
Building, Business, Fixture/Equipment, Inventory, Leases
Lot Dimensions:
44.5 × 90
Zoning:
Business/Commercial
Lot Description:
Tree Coverage - Light
Farm
Topography:
Other
Schools
School District:
316
District Phone:
2182477306
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$600
Annual Trash Expense:
$600
Tenant Expenses:
Cable TV
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$2,693
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$3,308
Income
Annual Gross Income:
$30,000
Units
Total Units:
2
Miscellaneous
Current Use:
- Bar/Tavern
- Commercial
- Other
- Professional/Office
- Recreational
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Results.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.