4355 W Frontage Rd, Owatonna, MN 55060
RETAIL For SaleYear Built: 2004
Floors: 1
Class: B
| Space | Size | Type | Pricing |
|---|---|---|---|
| Restaurant / Retail Site | SALE | $1,200,000.00 |
Garrett Farmer - NAI Legacy
PHONE: 6122016282
PHONE: 6123832591
NAI Legacy is pleased to present the opportunity to acquire the fee-simple real estate underlying the Famous Dave’s BBQ restaurant in Owatonna, Minnesota. The property is leased through November 2026 to Rib Kings of Owatonna, LLC, a multi-unit Famous Dave’s franchisee that has continuously operated this location since the building was constructed in 2004. The offering provides investors with in-place income, a defined lease horizon, and a well-capitalized asset in one of Owatonna’s most established interstate retail corridors. The NNN Lease rate is based on a rolling monthly payment equal to Six Percent (6.00%) of Gross Sales, or $5,000 whichever is greater. NOI for calendar year 2025 was roughly $82,000; representing an implied CAP Rate of 7.00% on the Sale Price. Situated on 1.45 acres with direct Interstate 35 frontage exposure, the 6,079 SF freestanding restaurant benefits from strong visibility, easy access, and adjacency to regional destination retail and dining. Importantly, ownership has recently completed over $300,000 of capital improvements (Fall 2025), including full parking lot replacement, sidewalks, signage, and striping, materially reducing near-term capital risk for a new owner.