4355 Frontage Rd W, Owatonna, MN 55060 For Sale

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 long-tenured, 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 located retail / restaurant property within Owatonna’s premier interstate retail corridor.

Situated on 1.45 acres with direct Interstate 35 frontage exposure, the 6,079-square-foot freestanding restaurant benefits from excellent visibility, convenient access, and adjacency to destination retail and dining. Importantly, ownership completed over $300,000 in capital improvements in Fall 2025, including full replacement of the parking lot, sidewalks, signage, and striping, materially reducing near-term capital expenditure requirements for a new owner.

Offered at $1,200,000; presents a compelling opportunity to acquire a recently improved, net-leased restaurant asset with in-place cash flow at an implied 7.00% CAP Rate, supported by a long-tenured franchise operator and strong interstate location fundamentals. The defined lease term provides both near-term income stability and future flexibility for lease renewal, repositioning, or redevelopment.