About Palm Commercial Brokerage

[View our Current Listings]

As always, our goal is to build on the outstanding regional reputation that we have enjoyed over the past several decades by continuing to expand the full range of services we offer to both current and future clients. We are confident our Business Brokerage services will strengthen our client representation even further within the Twin Cities commercial real estate market. Bringing business buyers and sellers together takes skill in areas such as overall assessment, financing and business valuation

About Palm Commercial Brokerage
We are committed to quality results through conscientious attention to detail and service. We offer brokerage, leasing, property management, construction advisory services, and consulting services for owners, investors and tenants of office, industrial, retail and multi-family residential properties.

 
 

Palm Commercial Business & Commercial Real Estate Brokerage

Your Trusted Minnesota Business Brokerage & Commercial Real Estate Firm,  Sale Partner and Advisor

Whether you are merging, buying or selling a business or commercial real estate, our experienced team and national network work hard for you.

We understand that buying or selling a business can be a complex process. That’s why having the strength and experience of Palm Commercial Real Estate & Business Brokerage on your side can make all the difference. We understand the needs and concerns of both buyers and sellers and can effectively represent your interests when negotiating a business transaction. And understanding makes Palm Commercial Business Brokerage distinctly different.

Selecting Palm Commercial Business Brokerage  provides you with a significant advantage that can literally make the difference between a successful business sale outcome and a failed deal. As your Business Broker we will work with you through all aspects of the sale including valuation, marketing your business, meeting with buyers and closing the transaction.

Benefits of using a Palm Commercial Business Broker include:

Maximum Exposure
Our marketing strategy draws on our extensive Commercial Business and Real Estate sales network.
Includes national commercial and independent business brokerage websites and various media methods, including bizquest.com, bizbuysell.com, and businessbroker.net    We also utilize several Social Media Platforms for more exposure.

Time
You will conduct your business as usual without interruption. We handle the telephone calls and arrange for a convenient showing time.

Qualified Buyers
We eliminate those buyers that do not have the experience, skills or the money to buy.

Results
In most cases, there is no fee for our services until your business is sold unless the upfront marketing fee and commission discount is selected.

Confidentiality
Your employees, customers or competition need not be aware you are selling your business until the transaction is complete.

Professionalism
Palm Commercial Business Brokers are trained professionals equipped with courtesy and diplomacy. They are ready to help you through the details toward the successful sale of your business.

Advertising
Palm Commercial Brokerage pays the cost of marketing your business.

Negotiation
Our mediation helps minimize the effect of sellers’ and buyer’s egos in the negotiation process. We look out for your best interest as the Seller and our Client.

Follow Up
We follow up on any prospect without weakening your sales position.

Synergy
Only 10% to 20% of those buyers who respond to a particular ad buy that type of business. Only one in 400 buy that particular business. Your business will receive exposure to qualified buyers even in weeks when it may not be advertised.

CONDUCTING RESEARCH & ANALYSIS

We assess the company’s strengths and weaknesses, analyze historical earnings and projected future performance, review the company’s operations and management infrastructure, and research the company’s industry and competitors.

This stage culminates in the creation of a confidential Marketing Brief and Outline that describes the client’s business and highlights the strengths of the company. We also present the Owners Discretionary Net Income including certain add-backs that the new Owner will benefit from after the sale.

MARKETING YOUR BUSINESS

Our marketing strategy draws on an extensive network and proprietary database. We prepare a well-researched list of potential acquirers that includes strategic buyers, high net-worth individuals, and private investment groups.

We pursue a controlled “auction” environment where multiple buyers can compete to acquire the company, then you select the best Buyer and price and negotiate an agreement in principle.

COMPLETING THE TRANSACTION

During this stage, the agreement in principle is negotiated and formalized into a definitive purchase agreement. Palm Commercial Brokerage plays a critical role during final negotiations and coordinating buyer due diligence when transactions may falter.

We guide the transaction to closing by introducing, if necessary, competent legal and accounting expertise, assisting the client’s other counsel to structure a transaction that minimizes the potential tax consequences. We can assist management during buyer due diligence and address sensitive issues, bringing the transaction to a timely and successful close.

Please call Michael N. Palm, Sr at 612-819-0706 or [email HERE]

Recently Listed Businesses for Sale or SOLD

 

Weavewood Foodservice Servicing Utensils

** Active**

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Great opportunity to invest in a food service manufacturer of the only NSF approved wood product service utensils in the food service industry. Company has dominated this side of the wood product service ware as the patents and trademarks are in place. Only NSF approved wood product serving bowls and trays for the food service industry. Well-known in all casinos, resorts, chain restaurants, buffets, hotels, airports etc.

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $250,000 to $1,000,000 USD
Location: 840 Pennsylvania Ave, Golden Valley, MN  55426
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA) Included
Inventory:(TBD) (NA)Included
Real Estate: Leased
Caribbean Marina
Tonka Bay – $6,250,000

June 2019 **SOLD**

 
Friends buy Caribbean Marina, plan to make it a Lake Minnetonka ...      Photo of Caribbean Marina & Restaurant - Tonka Bay, MN, United States. View on 8/30/19 at 5:50 pmThe Caribbean Marina – RSI Marine Service / Boat Storage
 

Caribbean Marina was a family owned business since 1960’s and was complex due to various family desires to sell and how to best transition.  The property consisted of 440′ of lake shore property and the analysis was that of converting to a condo residential project or retain the marina and enhance/redesign the docks for maximum revenues, slip rental and size which the Buyer is doing.

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $7,300,000
Location: Tonka Bay, MN
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA) Included
Inventory: Included
Real Estate: Included
Convenience Store,
Gas & Car Wash
Montevideo, MN

** Active**

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Great opportunity to own a convenience store
and add personal touch to the service and
food items to compete in the market. Potential
Seller Financing to assist with marketing and
revenue growth. Includes food area, walk-in
cooler with glass doors and car wash.

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $395,000 USD
Location: 631 N 6th Street, Montevideo, MN  56265
Gross Revenue: Closed
Net Income: (TBD) (NA)
FF&E: Included
Inventory: N/A
Real Estate: Included
Office & Convenience Store & Gas/Wash
Wilmar, MN

** Active**

20171019_110708

 

 

 

 

Corporate Offices and Warehouse located on
visible Highway 12 along with convenience
store/gas if desired as additional add-on
business.

 

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: Negotiable
Location: 1405 Hwy 12 E, Willmar, MN  56201
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA)
Inventory:(TBD) (NA)
Real Estate:$(TBD)Included
Crow’s Nest Marine Maple Plain, MN – December 2019 **SOLD**

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Long time/very experienced boat repair and storage company was sold to River Valley Marine to shore up their local boat repair and storage business for existing customers.  This was a very strategic merger of two successful companies with the current owners of Crows Nest remaining with the company for a smooth transition.

AGENT: Michael N Palm, Sr – 612-819-0706

List Price: Confidential
Location: Confidential
Gross Revenue: 
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E: Included
Inventory: Included
Real Estate: Included

Retail Store Property  – 21,000 sq ft – Elk River 169 Frontage

This image has an empty alt attribute; its file name is RubysElkRiverPhotoExt2-1024x768.jpg

This image has an empty alt attribute; its file name is RubysElkRiverPhotoInterior-1024x768.jpgWe are pleased to present this 21,000 sq ft retail store front property in Elk River on 169 frontage.  Property has two drive up doors and 3 loading dock doors.  Fully sprinkled and high ceilings.  Significant parking as part of the condo association.

AGENT: Michael N Palm, Sr (612) 819-0706

List Price: $2,895,000 
Location: Confidential
Gross Revenue: NA
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E: Included
Inventory: NA
Real Estate: Included

Burnsville Development Land

** Active**

Burnsville Development lots

3.79 acres of prime real estate for development on Hwy 13 with high traffic counts and visibility.

 

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $1,550,000 USD
Location: 2301 Hwy 13 E, Burnsville, MN  55371
Gross Revenue:(NA)
Net Income: (NA)
EBITDA: (NA)
FF&E:(NA)
Inventory: (NA)
Real Estate:(NA)

Bill’s Bay Marina – Red Wing- MN

** SOLD**

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We are pleased to have sold this great opportunity to own a full-service marina on the Mississippi. It docks the finest and largest boats and is the most popular in the area. In addition to the 60+ docks, the marina has year round storage, repair, gas docks and store. It is the largest twin engine boat brokerage in Minnesota and earns significant commission revenues on large boats. The docks are full and are significantly above the market due to the demand and services provided. The marina hosts 3-4 dock band parties for the boat dock clients and their guests each summer. There is significant financial improvement opportunity in the margin for boat repair and parts.

 

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $1,695,000 USD
Location: Confidential
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA: $150,000
FF&E:(TBD)(NA)
Inventory:(TBD) (NA)
Real Estate:$800,000, Included
Well-Known, Highly Respected, High-Volume Restaurant

** Active**

We are pleased to present a well-known, highly respected, high-volume Minneapolis restaurant, over 30 years old for sale at $595,000. The restaurant revenues are over $2.5 million and is a great opportunity to own and operate one of the most notable restaurants in the Twin Cities.

– Fully equipped kitchen
– Highly awarded and recognized restaurant
– Right of First Offer in Lease for property/building
– Fine dining/upscale iconic full-service awarded restaurant
– Owners adjusted Net Income of $250,000

[Download Non-Disclosure Agreement]

AGENTS: Mike Palm, Jr., or call 612-991-3296, or Michael N. Palm, Sr. or call 612-819-0706

List Price: $595,000 USD
Location: Confidential, Minneapolis, MN
Gross Revenue: $2,500,000
Net Income: (TBD) (NA)
EBITDA: $250,000
FF&E: $350,000 Included
Inventory: Included
Real Estate: Leased

Stucco Company

** Active**

Projected $2 million in revenues for 2017. $1,400,000 in 2016.  Over 100 year old stucco company with excellent market presence and recognition.  Over 35 strong labor force in the field with worldwide experience and knowledge.

[Download Non-Disclosure Agreement]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $950,000 USD
Location: Confidential
Gross Revenue:$2,000,000
Net Income: (TBD) (NA)
EBITDA: $300,000+
FF&E:(TBD)(NA)
Inventory: (TBD) Not Included
Real Estate: Leased
Well Respected, High-Volume Restaurant (rare Opportunity)

** Active**

Restaurant

Highly confidential.  Please contact for more information.

[Download Non-Disclosure Agreement]

AGENT: AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $329,000 USD
Location: Confidential
Gross Revenue: $812,473.00
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA)
Inventory: Included
Real Estate: Leased ($3,875/month, NNN Lease)

Old Country Buffet

** SOLD**

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We are pleased to present this 12,000 SF buffet restaurant with fully equipped kitchen and nicely finished dining room, seating, buffets and furniture. PRICE TO SELL AT ONLY $199,000 TO SELL BY YEAR END.

[more info]

[Download Non-Disclosure Agreement]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $199,000 USD
Location: Richfield, MN
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA) Included
Inventory:(TBD) (NA)Included
Real Estate: Leased

Twin Cities Florist

** Active**

flower pic

We are pleased to present this high-volume, well respected florist in the Twin Cities Metro area.  Great customer base with excellent reputation.

[Download Non-Disclosure Agreement]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $600,000 USD
Location: Confidential
Gross Revenue: $800,000
Net Income: $180,000
EBITDA: TBD
FF&E: TBD
Inventory: TBD
Real Estate: Not Included
Wendigo Resort Conference & Golf

** SOLD**

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We are pleased to present this 268 acre + Resort, Golf and Conference Center in Grand Rapids, MN.  High vaulted log beamed ceilings, restaurant/bar, conference/banquet area, 40 rooms including 8 suites, pool/spa and many other amenities. 18 hole golf course with greens needing to be rebuilt.

[Download Non-Disclosure Agreement]

[more info]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $2,495,000 USD
Location: 20108 Golf Crest Road, Grand Rapids, MN  55744
Gross Revenue:(TBD) (NA)
Net Income: (TBD) (NA)
EBITDA:(TBD)(NA)
FF&E:(TBD)(NA) Included
Inventory:(TBD) Included
Real Estate: Included
Convenience Store – Retail Development Opportunity

5.3 acre lot along with an additional 2.2 acres available for development.

Prime convenience store/gas/wash location on new interchange/exits on Hwy 169. This is a high demand corner opportunity for a branded gas and quick serve retail for high volume traffic counts. Both corner parcels are available for development but quality of operation/brand and image a must be approved at this interchange.

Hwy 169 and new MNDOT Interchange/exits

[Download Non-Disclosure Agreement]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $1,950,000 USD
Location: Hwy 169 & Hwy 3, Belle Plaine, MN  56011
Gross Revenue: (NA)
Net Income: (NA)
EBITDA: (NA)
FF&E: (NA)
Inventory: (NA)
 
Liquor Store

** Active**

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Successful liquor store with $3.5 Million/year in Gross Sales. Owner is currently netting between $500-$700K/year. The 5,000-5,500 square feet property is leased with 15 years left on the Lease. $80,000 -$90,000/year Gross Rent.
The property features walk-in coolers and is located in a very high-traffic location next to many other highly successful businesses and retail chain stores.

[Download Non-Disclosure Agreement]

AGENT: Michael N. Palm, Sr. or call 612-819-0706

List Price: $3,500,000 
Location: Confidential
Gross Revenue:
$3.5 million
Net Income:
$500-$700K/yr
EBITDA:(TBD)(NA)
FF&E: $700,000, Not Included
Inventory:(TBD) (NA)
Real Estate: Leased

Awards & Recognition

Number One Sales Professional Award – Minnesota – 2013

Number one sales professional

Number One Sales Professional Award in North America – Hospitality – 2012
Number One Sales Professional Award – Minnesota – 2012

Press release with pic

Agents

Michael N. Palm, Sr.

Palm Commercial Real Estate & Business Brokerage

5775 Wayzata Blvd Suite 700
Minneapolis, MN
Mobile: (612) 819-0706

Email at: mpalm@palmcommercialbrokerage.com
Email this professional

Background

Mike joined Coldwell Banker Commercial Business Brokerage Group after 28 years of extensive background and experience in the private business environment.  This included growing his 3rd generation family food service equipment and design business, Palm Brothers, from $3M in 1984 to $30M in 2000 and completes a roll-up with seven similar family businesses creating a $200M national distribution company. Since 2000, Mike has financed, acquired and sold over $60M of his businesses he has personally owned providing him unique insights into the issues faced by business owners looking to purchase and/or sell in today’s economy. He has served on the Board of Directors of the National Association of Truckstop Operators (NATSO) and the Food Service Equipment Distributors Association (FEDA). After being recruited by Coldwell Banker Commercial Griffin to develop and head up the Business Brokerage Group, Mike has been recognized in 2013 and 2012 as the #1 Commercial Agent for Coldwell Banker Commercial in Minnesota and #1 in North America in the Hospitality Segment.

Over the past few years, Mike sold over $200M of a wide variety of businesses including manufacturing, marinas, floral stores, hotels, liquor stores, convenience stores, truck stops, distributorships, motels, resorts, restaurants, sports teams, etc. and his over many years of ownership, operations, and acquisitions provide his clients with real life experience to provide necessary advisory during the complex buy or sell sale process. Mike was also recognized as the Top Business Listing Group and achieved Top Producing Agent for 2010 for Calhoun Companies, #1 Agent for Coldwell Banker Commercial in Minnesota in 2012 and 2013 and #1 Agent in North America in the Hospitality Market Segment for Coldwell Banker Commercial in 2012 and 2013.

Mike and his wife Shannon of 36 years, have 4 boys including Michael Jr (35) who is a Commercial Agent with Palm Commercial, Trent (32) who is currently a trader with Viking Forestry Products, Chris (29) who is a commercial agent with Palm Commercial and Ryan (29). In September of 2017, they welcomed a new grandson, Christopher to the family.  Mike and his wife reside in Wayzata, MN.  Mike has served on the Board of Directors of the Minneapolis South Young Life Youth Ministry Outreach and earned his Business Degree from Arizona State University.

[Download Bio]

Primary Specialty
  • Business Brokerage
  • Commercial Real Estate
  • Hospitality/Restaurant Consulting and Advisory
Education
  • Business, Arizona State University

 

 

MJR photo

 

 

 

 

Michael N. Palm, Jr.

Palm Commercial Brokerage
5775 Wayzata Blvd Suite 700
Minneapolis, MN 55416
Phone: 612-991-3296

Mike, Jr. has been a member in the Business Brokerage Group for over 10 years and as a team have achieved the #1 ranked 2012 and 2013 Agents with Coldwell Banker Commercial in Minnesota and also Top 1% in all of North America.  The various market segments served are restaurants, bars, hotels, resorts, truck stops, computer services, retail stores, auto repair, manufacturing, sports teams, convenience stores and many other businesses throughout the Midwest.

Mike was also a member of the Business Brokerage Team that was awarded the #1 Coldwell Banker Commercial Agents in 2012  and 2013 sales in the Hospitality Market Segment in North America as this is a specialty focus given the many deep relationships and 100 year reputation of the 4th generation family business, Palm Brothers Food Service Equipment/Design.

Mike is currently working on several businesses in various stages of listing, marketing, Letters of Intent, Purchase Agreements, and sales/closings.  The Business Brokerage Team takes great pride in serving its clients and analyzing the right valuation, sourcing the best Buyers and assisting in the transition to new opportunities and interests for its selling business Owners.

Arizona State University
B.S., Business
2004-2008