Sterling Motel | 1507 W Oakland Ave
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Sterling Motel 1507 W Oakland Ave
30 Room Hotel Austin, MN 55912 £672,907 (£22,430/Room)
Investment Highlights
- Prime Investment Opportunity
- Versatile Property Potential
- Ideal for Sober Living Conversion
Executive Summary
Property Highlights:
Type: Motel with 30 rooms and an approximately 3,200-square-foot house.
Renovation Potential: Estimated $400,000 renovation budget to convert into a state-funded sober living facility. Includes $10,000 per room for 30 rooms and $100,000 to renovate the house into a shared common area with a commercial kitchen.
Investment Features:
Revenue Potential: Projected gross revenue of $378,000 annually at $1,500 per bed per month and 70% occupancy. Net operating income (NOI) is estimated at $151,200 annually after typical operating expenses.
Investment Value: With a 12% cap rate, the property’s potential post-renovation value is approximately $1,260,000. The current listing price offers significant upside for the right investor.
Versatile Use: Includes a spacious house that can be utilized as a common area, staff quarters, or additional revenue-generating space.
Marketing Position:
This is a niche investment opportunity ideal for buyers seeking steady income from government-backed programs. With the right renovations, the property is well-positioned to meet growing demand for sober living facilities in the region.
Legal Notices:
The property is being sold "as-is." All information provided is deemed reliable but is not guaranteed and should be independently verified.
All investment values, projected revenues, and financial estimates are for informational purposes only and are based on available data and assumptions. Buyers are responsible for conducting their own due diligence and verifying all figures.
Renovations or operational changes are the responsibility of the buyer and must comply with local, state, and federal regulations.
Buyers are encouraged to consult with tax and legal professionals regarding any potential tax liabilities or implications.
Type: Motel with 30 rooms and an approximately 3,200-square-foot house.
Renovation Potential: Estimated $400,000 renovation budget to convert into a state-funded sober living facility. Includes $10,000 per room for 30 rooms and $100,000 to renovate the house into a shared common area with a commercial kitchen.
Investment Features:
Revenue Potential: Projected gross revenue of $378,000 annually at $1,500 per bed per month and 70% occupancy. Net operating income (NOI) is estimated at $151,200 annually after typical operating expenses.
Investment Value: With a 12% cap rate, the property’s potential post-renovation value is approximately $1,260,000. The current listing price offers significant upside for the right investor.
Versatile Use: Includes a spacious house that can be utilized as a common area, staff quarters, or additional revenue-generating space.
Marketing Position:
This is a niche investment opportunity ideal for buyers seeking steady income from government-backed programs. With the right renovations, the property is well-positioned to meet growing demand for sober living facilities in the region.
Legal Notices:
The property is being sold "as-is." All information provided is deemed reliable but is not guaranteed and should be independently verified.
All investment values, projected revenues, and financial estimates are for informational purposes only and are based on available data and assumptions. Buyers are responsible for conducting their own due diligence and verifying all figures.
Renovations or operational changes are the responsibility of the buyer and must comply with local, state, and federal regulations.
Buyers are encouraged to consult with tax and legal professionals regarding any potential tax liabilities or implications.
Property Facts
| Price | £672,907 | Building Size | 11,270 SF |
| Price Per Room | £22,430 | No. Rooms | 30 |
| Sale Type | Investment | Number of Floors | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1950/1975 |
| Property Subtype | Hotel | Parking Ratio | 1.07/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.79 AC |
| Price | £672,907 |
| Price Per Room | £22,430 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 11,270 SF |
| No. Rooms | 30 |
| Number of Floors | 1 |
| Year Built/Renovated | 1950/1975 |
| Parking Ratio | 1.07/1,000 SF |
| Corridor | Exterior |
Amenities
- High Speed Internet Access
- Public Access Wi-Fi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 30 | £56.34 | - |
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PROPERTY TAXES
| Parcel Number | 34-705-0450 | Improvements Assessment | £174,878 |
| Land Assessment | £85,365 | Total Assessment | £260,243 |
PROPERTY TAXES
Parcel Number
34-705-0450
Land Assessment
£85,365
Improvements Assessment
£174,878
Total Assessment
£260,243
zoning
| Zoning Code | COMMERCIAL |
| COMMERCIAL |
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Sterling Motel | 1507 W Oakland Ave
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