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$1,225,000 -$75,000 (-5.77%) Price Reduced

  • For Sale
  • Active
  • Commercial
  • 4,702 Sq. Ft.
  • 0.86 Acres
  • Updated 9 hours ago
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Don't miss this rare opportunity to own a fully operational, turn-key diner in a high-traffic, high-visibility location in the heart of Marshall! This beloved eatery has been serving loyal customers for years, including locals, commuters and college students! The business is fully furnished, and the atmosphere is cozy and clean. Space has been allocated for the future addition of a drive-through. Whether you're looking to expand your business, cater or have another business idea entirely, this is the perfect space for your next venture. Bonus is that the buyer will receive the menu and recipes from Mike's Cafe, offering a part of two popular businesses with this sale!

Full Property Details for 1501 E College Dr

General

  • Price: $1,225,000
  • Taxes: $12,362 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6766738
  • Updated: 4/3/2026
  • Added to Site: 243 day(s) ago

Interior

  • Appliances: Dishwasher, Exhaust Fan, Freezer, Gas Water Heater, Indoor Grill, Refrigerator, Stainless Steel Appliances
  • Flooring: See Remarks, Tile

Rooms

Bathrooms

  • Total Bathrooms: 2

Parking

  • Parking Features: Parking Lot

Location

  • County: Lyon
  • Township: Marshall
  • Subdivision: F J Mclaughlin 2nd Sub
  • Driving Directions: E College Dr, next to The Mattress Barn

School Information

  • School District: 1644 - Marshall
  • High School District: Marshall

Heating & Cooling

  • Cooling Type: Dual
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate, Hot Water Separate

Structural Information

  • Exterior Const.: Block, Brick
  • Foundation Size: 4702
  • Roof: Age 8 Years or Less
  • Disability Access: Doors 36"+, Grab Bars In Bathroom, Wheelchair Ramp(s)
  • Square Feet: 4,702
  • Finished Down/Base.: 4,702 Sq. Ft.
  • Current Bldg. Use: Commercial, Restaurant
  • Year Built: 1972

Lot Features

  • Lot Size (Acres): 0.86
  • Lot Dimensions: 50000
  • Frontage: City Street
  • Potential Use: Restaurant
  • Zoning: Business/Commercial

Financial Considerations

  • Tax Amount: $12,362.63
  • Tax Year: 2025
  • Terms: Conventional, Cash

Disclosures and Reports

  • Legal Description: F J MCLAUGHLIN 2ND SUBDIVISION01010001 LOTS 23 24 & 25
  • Inclusions: Building, Fixture/Equipment, Inventory, Land
  • Property ID: 272500010

Listed by Marshall Area Homes

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— 1501 E College Dr —

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 1501 E College Dr

School District:Marshall Public School District
NameGradesDistance
Park Side Elementary School
1300 East Lyon Street, Marshall, MN 56258
PK-20.6 mi
Marshall Middle School
401 South Saratoga Street, Marshall, MN 56258
7-81.5 mi
West Side Elementary School
500 South 4th Street, Marshall, MN 56258
3-41.9 mi
Marshall High School
400 Tiger Drive, Marshall, MN 56258
9-120.6 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1501 E College Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/03/2026
Price Reduced
$1,225,000
-5.77%
MLS
8/04/2025
Listed
$1,300,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1501 E College Dr

Year
Property Taxes
Change
Tax Assessment
Change
2024
$24,686
3%
$480,800
7%
2023
$23,992
-6%
$447,800
9%
2022
$25,508
-7%
$410,300
-2%
2021
$27,300
—
$417,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1501 E College Drive, Marshall, MN 56258 (MLS# 6766738) is a Commercial property. 1501 E College Drive is currently listed for $1,225,000 and was received on August 04, 2025. Want to learn more about 1501 E College Drive? Do you have questions about finding other Commercial real estate for sale in Marshall? You can browse all Marshall real estate or contact a Coldwell Banker agent to request more information.

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