$750,000
501 & 504 Lake Avenue Fairmont, MN 56031 - Sisseton
For Sale MLS# 7045816
2,200 sq ft Commercial
Details for 501 & 504 Lake Avenue
MLS# 7045816
Description for 501 & 504 Lake Avenue, Fairmont, MN, 56031 - Sisseton
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.
Listing Information
Property Type: Commercial, Business Opportunity
Status: Active
Lot Size: 0.36 Acres
Square Feet: 2,200 sq ft
Year Built: 1987
Foundation: 900 sq ft
Stories: 2 Stories
Subdivision: Marina Add
Number Of Units Total: 1
Current Use: Event Space,Food Service,Restaurant,Tavern/Lounge
County: Martin
Days On Market: 85
Construction Status: Previously Owned
School Information
District: 2752 - Fairmont Area Schools
Interior Features
Appliances: Wall Oven, Wine Cooler, Microwave, Range, Refrigerator, Exhaust Fan/Hood, Freezer, Cooktop, Dishwasher, Disposal
Flooring: Carpet,Floor Drains
Doors/Windows: Blinds
Accessibility: Elevator, Grab Bars In Bathroom, Partially Wheelchair, Wheelchair Ramp, Doors 36+
Additional Interior Features: Ceiling Fan(s), Security System, Walk-up Attic, Wet Bar, Vaulted Ceiling(s)
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Common,Heating Common,Hot Water Common
Cooling: Central
Heating: Zoned, Forced Air, Natural Gas
Exterior / Lot Features
Open Parking: 2
Parking Description: Driveway - Concrete, Driveway - Shared, Guest Parking, Parking Lot, Off Site
Exterior: Wood
Roof: Pitched, Age 8 Years or Less, Asphalt Shingles
Lot View: Lake,West
Lot Dimensions: 145X170
Zoning: Business/Commercial
Topography: Level
Fencing: Partial
Additional Exterior/Lot Features: Boat Slip, Panoramic View, Dock, Deck, Land Inclusions - Building,Inventory,Land, Road Frontage - Paved Streets, Street Lights, Sidewalks, Curbs, City
Waterfront Details
Boat Facilities: Boat Facilities
Standard Water Body: Sisseton
DNR Lake ID: 46002500
Water Front Features: Dock, Lake Front, Lake View
Water Frontage Length: 143 Ft.
Lake Acres: 138
Lake Depth: 19 Ft.
Lake Bottom: Sand,Weeds
Waterfront Slope: Gradual,Level
Driving Directions
Take State st to E 4th St take a right on Lake Ave, one block on the west side of the street
Financial Considerations
Tax/Property ID: 233350010
Tax Amount: 9821
Tax Year: 2025
HomeStead Description: Non-Homesteaded
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Sales History & Tax Summary for 501 & 504 Lake Avenue
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 501 & 504 Lake Avenue
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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