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550 Commerce Dr
Le Center, MN 56057
Guardian Inn of Le Center · Hospitality Property For Sale
·
22 Rooms
PROPERTY FACTS
| Property Type | Hospitality | No. Rooms | 22 |
| Property Subtype | Hotel | No. Stories | 1 |
| Building Class | C | Year Built | 2009 |
| Lot Size | 2.75 AC | Parking Ratio | 5.95/1,000 SF |
| Building Size | 20,937 SF | Corridor | Exterior |
| Zoning | Commercial - HORIZON ADDITION Lot-003 Block-005 2.75 AC | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.75 AC |
| Building Size | 20,937 SF |
| No. Rooms | 22 |
| No. Stories | 1 |
| Year Built | 2009 |
| Parking Ratio | 5.95/1,000 SF |
| Corridor | Exterior |
| Zoning | Commercial - HORIZON ADDITION Lot-003 Block-005 2.75 AC |
AMENITIES
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
ABOUT 550 COMMERCE DR , LE CENTER, MN 56057
The Guardian Inn is a single story 22 room motel with an attached 4 bedroom residence in Le Center, MN. that is bank owned. It is approximately 18,000 square feet and has 16 units that have garages. It has been operated as a motel since 2008. Based on the floor plan, the building could be converted to an apartment building or assisted living facility. It also has an abundance of parking and additional land for expansion. To construct this facility today would cost in excess of $1.5 million. This is a great opportunity for a local developer to take on a conversion project or a motel operator to run it as-is. The estimated Proforma breakdown listed, is representing the proposed conversion of this property to multi-family housing (apartments). Proposed conversion to multi-family is as follows: By converting the single stall garage to two bedrooms, and the current bed area to a kitchen and living room, it is possible to develop 16 two bedroom units. This includes converting the remaining 6 rooms into 6 studio units. The cost for the conversion is estimated to be $15,000 per unit for the 2 bed units and $7000 per unit for the studio units for a total project cost of $282,000.
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 22 | $68.00 | - |
PROPERTY TAXES
| Parcel Number | 20.575.0590 | Improvements Assessment | $406,000 |
| Land Assessment | $125,000 | Total Assessment | $531,000 |
PROPERTY TAXES
