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- LoopNet Team
1955 1st Ave N
Windom, MN 56101
39 Unit Motel in Federal Opportunity Zone · Hospitality Property For Sale
·
8,036 SF
INVESTMENT HIGHLIGHTS
- Units have attached garages
- Located in Federal Opportunity Zone
- Best suited for affordable housing or assisted living re-devlopment
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built | 1999 |
| Building Class | C | Parking Ratio | 6.72/1,000 SF |
| Lot Size | 3.14 AC | Corridor | Exterior |
| Building Size | 8,036 SF | ||
| Zoning | B-2 - Highway Business | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.14 AC |
| Building Size | 8,036 SF |
| No. Stories | 2 |
| Year Built | 1999 |
| Parking Ratio | 6.72/1,000 SF |
| Corridor | Exterior |
| Zoning | B-2 - Highway Business |
ABOUT 1955 1ST AVE N , WINDOM, MN 56101
Highlights: 3 Buildings; 39 Units (32 w/attached garages) Redevelopment Opportunity Main Building with Lobby, Breakfast Area, Laundry, Restrooms, Front Desk Excellent Price! Description CALLING HOSPITALITY INVESTORS! Motel business for sale in south central Minnesota. Highway visibility with three buildings/ 39 units (32 with attached garages). Approximately half of the units have been remodeled. Prime redevelopment opportunity for apartments, assisted living or other extended-stay uses. Appraised for $1,900,000 (2015); Financials available upon request with nondisclosure consent. Opportunity Zone investment - Move the gains from your taxable investment (real estate, stock and business sales) and defer all gains until 2026. Eliminate 15% of your capital gains if funds held in opportunity zone for 7 years. Hold investment for 10 years and exclude accured capital gains. Location More than 13,500 VPD drive by this Motel. Highly visible location from First Avenue - just North of State Highway 60. 120 Miles Southwest of Minneapolis/Twin Cities Metro, 60 miles southwest of Mankato. Windom's population is 4.646 and is the county seat of Cottonwood County. Windom is host to several parks including a disc golf course at Mayflower Park. The Des Moines River flows through Windom and serves as a gentle, rapid-free canoeing spot. Annual summer festival, Riverfest, is held on the second weekend in June and Winter-River-Fest is held in February, bringing visitors in from south central Minnesota. Listing Website: buildout.com/website/540055-sale 2018 Revenue = $514,000 2018 EBITDA = $78,000 2018 Working Owner Cash Flow = $111,000
PROPERTY TAXES
| Parcel Number | 25-622-0010 | Improvements Assessment | $2,123,000 |
| Land Assessment | $144,000 | Total Assessment | $2,267,000 |
PROPERTY TAXES
